Is Midwest City, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Midwest City has remained a Seller's Market.
Key Takeaway
Midwest City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Midwest City, OK
How much do homes in Midwest City, OK cost?
Median Sold Price
$170,000
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Midwest City have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Midwest City was $170,000 in March 2024, up 2.3% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $57.5K | -36.1% |
| 2 Bedrooms | $110K | $112K | +1.8% |
| 3 Bedrooms | $170K | $175K | +2.9% |
| 4 Bedrooms | $217.4K | $220K | +1.2% |
| 5+ Bedrooms | $293.3K | $304K | +3.6% |
Summary: Midwest City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.1%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
| Choctaw | $289.6K | $309.8K | +7.0% |
| Oklahoma City Southeast | $182.3K | $194.2K | +6.5% |
| Spencer | $145K | $150K | +3.4% |
| Midwest City | $166.2K | $170K | +2.3% |
Housing Supply in Midwest City, OK
How many homes are available in Midwest City, OK?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 225 | 247 | +9.8% |
Summary: The Midwest City real estate market had 247 homes for sale in March 2024, a 9.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 15 | 25 | +66.7% |
| 3 Bedrooms | 163 | 164 | +0.6% |
| 4 Bedrooms | 42 | 50 | +19.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Midwest City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 50 | 57 | +14.0% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Midwest City, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 57 homes were sold or pending in Midwest City in March 2024, up by 14.0% month-over-month. Of the 57 sold homes, 42% were sold under asking, 40% were sold at asking, and 18% were sold over asking.
Days on Market for Midwest City, OK
How long does it take to sell a home in Midwest City, OK?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 42 Days | +95.9% |
Summary: Homes in Midwest City had an average of 42 days on market in Mar 2024, up by 95.9% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Midwest City are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 57 homes were sold in Midwest City; 58% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
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