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 April 2023
Since last year, Oklahoma City Southwest has remained a Seller's Market.
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 April 2023
Summary: The median home sold price in Oklahoma City Southwest was $215,000 in April 2024, up 2.4% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $105K | $95K | -9.5% |
2 Bedrooms | $145.9K | $151.9K | +4.1% |
3 Bedrooms | $206.6K | $209.9K | +1.6% |
4 Bedrooms | $295.3K | $296.8K | 0.5% |
5+ Bedrooms | $360.5K | $380K | +5.4% |
Summary: Oklahoma City Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.5%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
Warr Acres | $179.2K | $198.5K | +10.7% |
Oklahoma City Southwest | $210K | $215K | +2.4% |
Oklahoma City | $244.9K | $249.9K | +2.1% |
Nichols Hills | $796K | $797K | 0.1% |
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
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,620 | 1,732 | +6.9% |
Summary: The Oklahoma City Southwest real estate market had 1,732 homes for sale in April 2024, a 6.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 30 | 33 | +10.0% |
2 Bedrooms | 297 | 327 | +10.1% |
3 Bedrooms | 849 | 875 | +3.1% |
4 Bedrooms | 355 | 385 | +8.5% |
5+ Bedrooms | 89 | 112 | +25.8% |
Summary: The Oklahoma City Southwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 25.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
425 | 414 | -2.6% |
Asking Price vs. Sold Price
201 Homes Were Sold
Under Asking
125 Homes Were Sold
At Asking
88 Homes Were Sold
Over Asking
Summary: A total of 414 homes were sold or pending in Oklahoma City Southwest in April 2024, down by 2.6% month-over-month. Of the 414 sold homes, 49% were sold under asking, 30% were sold at asking, and 21% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
23 Days | 28 Days | +19.1% |
Summary: Homes in Oklahoma City Southwest had an average of 28 days on market in Apr 2024, up by 19.1% compared to last year.
Breakdown of Home Sale Times
288 Homes Were Sold
Under 30 Days
94 Homes Were Sold
In 30 - 90 Days
32 Homes Were Sold
Over 90 Days
Summary: During April 2024, 414 homes were sold in Oklahoma City Southwest; 70% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.