Is Oklahoma City Northwest, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Oklahoma City Northwest has remained a Seller's Market.
Key Takeaway
Oklahoma City Northwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oklahoma City Northwest, OK
How much do homes in Oklahoma City Northwest, OK cost?
Median Sold Price
$339,986
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Oklahoma City Northwest have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Oklahoma City Northwest was $339,986 in April 2024, up 2.3% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $101K | $105K | +4.0% |
| 2 Bedrooms | $181.5K | $203.5K | +12.1% |
| 3 Bedrooms | $275K | $289.5K | +5.3% |
| 4 Bedrooms | $415.3K | $407.2K | -2.0% |
| 5+ Bedrooms | $627.1K | $571.8K | -8.8% |
Summary: Oklahoma City Northwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 8.8%.
Median Sold Price Compared To Nearby Cities
| Oklahoma City Southwest | $210K | $215K | +2.4% |
| Oklahoma City Northwest | $332.3K | $339.9K | +2.3% |
| Edmond | $353.1K | $357K | +1.1% |
| Guthrie | $264.7K | $263.3K | -0.6% |
| Oklahoma City Northeast | $475K | $451.9K | -4.8% |
Housing Supply in Oklahoma City Northwest, OK
How many homes are available in Oklahoma City Northwest, OK?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 937 | 1,013 | +8.1% |
Summary: The Oklahoma City Northwest real estate market had 1,013 homes for sale in April 2024, a 8.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 31 | 33 | +6.5% |
| 3 Bedrooms | 441 | 443 | 0.5% |
| 4 Bedrooms | 380 | 448 | +17.9% |
| 5+ Bedrooms | 84 | 88 | +4.8% |
Summary: The Oklahoma City Northwest 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 6.5%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 240 | 214 | -10.8% |
Asking Price vs. Sold Price
80 Homes Were Sold
Under Asking
89 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oklahoma City Northwest, expect to pay close to the asking price. 41.6% of homes here sold near the asking price last month.
Summary: A total of 214 homes were sold or pending in Oklahoma City Northwest in April 2024, down by 10.8% month-over-month. Of the 214 sold homes, 37% were sold under asking, 42% were sold at asking, and 21% were sold over asking.
Days on Market for Oklahoma City Northwest, OK
How long does it take to sell a home in Oklahoma City Northwest, OK?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 39 Days | +13.5% |
Summary: Homes in Oklahoma City Northwest had an average of 39 days on market in Apr 2024, up by 13.5% compared to last year.
Breakdown of Home Sale Times
145 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oklahoma City Northwest are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 214 homes were sold in Oklahoma City Northwest; 68% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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