Is Oklahoma City, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Oklahoma City has remained a Seller's Market.
Key Takeaway
Oklahoma City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oklahoma City, OK
How much do homes in Oklahoma City, OK cost?
Median Sold Price
$248,830
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Oklahoma City have sold for 2% more than they did a year ago.
Summary: The median home sold price in Oklahoma City was $248,830 in November 2023, up 2% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $92.3K | $102K | +10.5% |
| 2 Bedrooms | $144.5K | $145.6K | +0.8% |
| 3 Bedrooms | $226.5K | $229.9K | +1.5% |
| 4 Bedrooms | $329.2K | $335.4K | +1.9% |
| 5+ Bedrooms | $460.4K | $449.4K | -2.4% |
Summary: Oklahoma City housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Del City | $128.9K | $145K | +12.5% |
| Oklahoma City Southwest | $205K | $213.2K | +4.0% |
| Oklahoma City | $243.8K | $248.8K | +2.0% |
Housing Supply in Oklahoma City, OK
How many homes are available in Oklahoma City, OK?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 3,368 | 3,354 | -0.4% |
Summary: The Oklahoma City real estate market had 3,354 homes for sale in November 2023, a 0.4% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 31 | -11.4% |
| 2 Bedrooms | 324 | 315 | -2.8% |
| 3 Bedrooms | 1,773 | 1,769 | -0.2% |
| 4 Bedrooms | 1,059 | 1,050 | -0.8% |
| 5+ Bedrooms | 177 | 189 | +6.8% |
Summary: The Oklahoma City housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.4%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 6.8%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 796 | 646 | -18.8% |
Asking Price vs. Sold Price
307 Homes Were Sold
Under Asking
208 Homes Were Sold
At Asking
131 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oklahoma City, you may be able to get a good deal. 47.5% of homes here sold below asking price last month.
Summary: A total of 646 homes were sold or pending in Oklahoma City in November 2023, down by 18.8% month-over-month. Of the 646 sold homes, 48% were sold under asking, 32% were sold at asking, and 20% were sold over asking.
Days on Market for Oklahoma City, OK
How long does it take to sell a home in Oklahoma City, OK?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 21 Days | 30 Days | +39.5% |
Summary: Homes in Oklahoma City had an average of 30 days on market in Nov 2023, up by 39.5% compared to last year.
Breakdown of Home Sale Times
445 Homes Were Sold
Under 30 Days
145 Homes Were Sold
In 30 - 90 Days
56 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oklahoma City are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 646 homes were sold in Oklahoma City; 69% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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Disclaimer: IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Copyright © 2023 Northwest Arkansas Board of Realtors All rights reserved.