Is Oklahoma City Southeast, 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, Oklahoma City Southeast has remained a Seller's Market.
Key Takeaway
Oklahoma City Southeast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oklahoma City Southeast, OK
How much do homes in Oklahoma City Southeast, OK cost?
Median Sold Price
$194,208
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Oklahoma City Southeast have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Oklahoma City Southeast was $194,208 in March 2024, up 6.5% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $57.5K | -42.5% |
| 2 Bedrooms | $108.5K | $110K | +1.4% |
| 3 Bedrooms | $177.9K | $186.9K | +5.0% |
| 4 Bedrooms | $258.4K | $269.9K | +4.4% |
| 5+ Bedrooms | $368.5K | $393K | +6.6% |
Summary: Oklahoma City Southeast housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.5%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 6.6%.
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 Oklahoma City Southeast, OK
How many homes are available in Oklahoma City Southeast, OK?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 577 | 618 | +7.1% |
Summary: The Oklahoma City Southeast real estate market had 618 homes for sale in March 2024, a 7.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 38 | 50 | +31.6% |
| 3 Bedrooms | 395 | 395 | 0.0% |
| 4 Bedrooms | 128 | 153 | +19.5% |
| 5+ Bedrooms | 15 | 17 | +13.3% |
Summary: The Oklahoma City Southeast housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 31.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 122 | 140 | +14.8% |
Asking Price vs. Sold Price
61 Homes Were Sold
Under Asking
49 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oklahoma City Southeast, you may be able to get a good deal. 43.6% of homes here sold below asking price last month.
Summary: A total of 140 homes were sold or pending in Oklahoma City Southeast in March 2024, up by 14.8% month-over-month. Of the 140 sold homes, 44% were sold under asking, 35% were sold at asking, and 21% were sold over asking.
Days on Market for Oklahoma City Southeast, OK
How long does it take to sell a home in Oklahoma City Southeast, OK?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 26 Days | 40 Days | +53.6% |
Summary: Homes in Oklahoma City Southeast had an average of 40 days on market in Mar 2024, up by 53.6% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
44 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oklahoma City Southeast are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 140 homes were sold in Oklahoma City Southeast; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 12% 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 © 2024 Northwest Arkansas Board of Realtors All rights reserved.