Is El Reno, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, El Reno was a Neutral Market.
Key Takeaway
El Reno is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in El Reno, OK
How much do homes in El Reno, OK cost?
Median Sold Price
$179,916
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in El Reno have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in El Reno was $179,916 in April 2024, up 2.7% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $42.9K | $55K | +28.2% |
| 2 Bedrooms | $117.2K | $126.5K | +7.9% |
| 3 Bedrooms | $167.5K | $174.5K | +4.2% |
| 4 Bedrooms | $230K | $225K | -2.2% |
| 5+ Bedrooms | $320K | $321.2K | 0.4% |
Summary: El Reno housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.2%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 0.4%.
Housing Supply in El Reno, OK
How many homes are available in El Reno, OK?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 92 | 86 | -6.5% |
Summary: The El Reno real estate market had 86 homes for sale in April 2024, a 6.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 12 | +9.1% |
| 3 Bedrooms | 52 | 50 | -3.8% |
| 4 Bedrooms | 21 | 17 | -19.0% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The El Reno housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes decreased by 19%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 20 | -28.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in El Reno, you may be able to get a good deal. 45% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in El Reno in April 2024, down by 28.6% month-over-month. Of the 20 sold homes, 45% were sold under asking, 40% were sold at asking, and 15% were sold over asking.
Days on Market for El Reno, OK
How long does it take to sell a home in El Reno, OK?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 61 Days | +31.3% |
Summary: Homes in El Reno had an average of 61 days on market in Apr 2024, up by 31.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in El Reno has remained consistent over time.
Summary: During April 2024, 20 homes were sold in El Reno; 25% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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