(PRWEB) July 02, 2012
A new Homes.org real estate report provides coverage of the latest trends and activity in the Oklahoma City real estate market. The report provides information on the latest May 2012 statistics as well as month-over-month and year-over-year comparisons for Oklahoma City sales figures. The analysis of this data can give buyers and sellers a better idea of the general health of the market and how things will likely trend in the coming months.
Below are some key findings for the Oklahoma City area:
- Total closed sales in May 2012 were 1,785, outpacing both the 1,548 sales in April 2012 and 1,464 sales in May 2011
- The Average List Price in May 2012 was $164,530, up from $158,474 in April 2012 but down from $170,667 in May 2011
- The number of Active Listings in May 2012 was 7,748, up from 7,614 in April 2012 but down from the 9,006 listings in May 2011
- May 2012 average interest rates were at 4.01%, down from 4.10% in April 2012 and 4.29% in May 2011
- Sales to List Price in May 2012 was 97%, unchanged since May 2012 and 1% lower than the 98% in May 2011
May was the best month for 2012 as far as total home sales in Oklahoma City, which is significant considering that nationwide sales declined slightly in the month. However, unlike the national figures, Oklahoma City didn’t have a month-to-month drop in inventory in May. There was actually a slight increase in inventory between May and April 2012, but inventory was significantly down compared to the same time last year.
Oklahoma City is enjoying a fairly healthy market right now that has month-over-month price increases and total sales. A tightening in the inventory could mean higher sales prices but it could also take away from the number of sales. Compared to many other areas of the country, Oklahoma City is experiencing a good balance that should continue into June and July.
Oklahoma City Real Estate Market Latest Information and Statistics
Counties: Canadian, Cleveland, Oklahoma, Pottawatomie
Zip Codes in the City: 74101-74108, 74110, 74112, 74114-74117, 74119-74121, 74126-74137, 74141, 74145-74150, 74152, 74153, 74155-74159, 74169-74172, 74182-74184, 74186, 74187, 74189, 74192-74194
Population (Metro): 1,280,578
Total Households (2006-2010): 222,802
Median Value Owner Occupied Housing (2006-2010): $124,600
May 2012 Total Home Sales in Oklahoma City: 1,785
May 2012 Median Sale Price in Oklahoma City: $141,000
May 2012 Average Sale Price in Oklahoma City: $164,530
Renters vs. Owners (2006-2010): 38.6% vs. 61.4%
Type of Home:
97% Single Family
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