Is Oklahoma City Southwest, 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 Southwest has remained a Seller's Market.
Key Takeaway
Oklahoma City Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oklahoma City Southwest, OK
How much do homes in Oklahoma City Southwest, OK cost?
Median Sold Price
$215,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Oklahoma City Southwest have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Oklahoma City Southwest was $215,000 in March 2024, up 2.5% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89.5K | $95.5K | +6.7% |
| 2 Bedrooms | $145.6K | $150K | +3.0% |
| 3 Bedrooms | $205.8K | $210.1K | +2.1% |
| 4 Bedrooms | $292.9K | $295.8K | +1.0% |
| 5+ Bedrooms | $376.4K | $382.5K | +1.6% |
Summary: Oklahoma City Southwest housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
| Warr Acres | $175K | $195K | +11.4% |
| Nichols Hills | $755K | $822.5K | +8.9% |
| Oklahoma City Southwest | $209.8K | $215K | +2.5% |
| Oklahoma City | $245K | $250K | +2.0% |
| The Village | $220K | $220K | 0.0% |
Housing Supply in Oklahoma City Southwest, OK
How many homes are available in Oklahoma City Southwest, OK?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,457 | 1,644 | +12.8% |
Summary: The Oklahoma City Southwest real estate market had 1,644 homes for sale in March 2024, a 12.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 37 | 34 | -8.1% |
| 2 Bedrooms | 276 | 305 | +10.5% |
| 3 Bedrooms | 737 | 850 | +15.3% |
| 4 Bedrooms | 328 | 366 | +11.6% |
| 5+ Bedrooms | 79 | 89 | +12.7% |
Summary: The Oklahoma City Southwest housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.1%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 12.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 317 | 387 | +22.1% |
Asking Price vs. Sold Price
203 Homes Were Sold
Under Asking
99 Homes Were Sold
At Asking
85 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oklahoma City Southwest, you may be able to get a good deal. 52.5% of homes here sold below asking price last month.
Summary: A total of 387 homes were sold or pending in Oklahoma City Southwest in March 2024, up by 22.1% month-over-month. Of the 387 sold homes, 52% were sold under asking, 26% were sold at asking, and 22% were sold over asking.
Days on Market for Oklahoma City Southwest, OK
How long does it take to sell a home in Oklahoma City Southwest, OK?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 32 Days | +18.5% |
Summary: Homes in Oklahoma City Southwest had an average of 32 days on market in Mar 2024, up by 18.5% compared to last year.
Breakdown of Home Sale Times
263 Homes Were Sold
Under 30 Days
90 Homes Were Sold
In 30 - 90 Days
34 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oklahoma City Southwest are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 387 homes were sold in Oklahoma City Southwest; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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