Is Payne County, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Payne County has remained a Seller's Market.
Key Takeaway
Payne County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Payne County, OK
How much do homes in Payne County, OK cost?
Median Sold Price
$205,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Payne County have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Payne County was $205,000 in May 2024, down 3.3% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $43K | $82.5K | +91.9% |
| 2 Bedrooms | $116K | $120.5K | +3.9% |
| 3 Bedrooms | $204.3K | $205K | 0.3% |
| 4 Bedrooms | $246.9K | $240.5K | -2.6% |
| 5+ Bedrooms | $310K | $312.4K | +0.8% |
Summary: Payne County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 91.9%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Counties
| Pawnee County | $152.5K | $173K | +13.4% |
| Lincoln County | $162.5K | $161.2K | -0.8% |
| Logan County | $254.2K | $250K | -1.7% |
| Payne County | $212K | $205K | -3.3% |
Housing Supply in Payne County, OK
How many homes are available in Payne County, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 126 | 143 | +13.5% |
Summary: The Payne County real estate market had 143 homes for sale in May 2024, a 13.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 3 | +100.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 73 | 82 | +12.3% |
| 4 Bedrooms | 33 | 40 | +21.2% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Payne County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 30 | +25.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Payne County, expect to pay close to the asking price. 43.3% of homes here sold near the asking price last month.
Summary: A total of 30 homes were sold or pending in Payne County in May 2024, up by 25.0% month-over-month. Of the 30 sold homes, 37% were sold under asking, 43% were sold at asking, and 20% were sold over asking.
Days on Market for Payne County, OK
How long does it take to sell a home in Payne County, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 60 Days | 35 Days | -42.0% |
Summary: Homes in Payne County had an average of 35 days on market in May 2024, down by 42% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Payne County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 30 homes were sold in Payne County; 60% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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