Is Northwest Oklahoma City, 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, Northwest Oklahoma City has remained a Seller's Market.
Key Takeaway
Northwest Oklahoma City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest Oklahoma City, OK
How much do homes in Northwest Oklahoma City, OK cost?
Median Sold Price
$304,920
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northwest Oklahoma City have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Northwest Oklahoma City was $304,920 in May 2024, up 4.9% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99.4K | $100K | +0.6% |
| 2 Bedrooms | $178K | $182K | +2.2% |
| 3 Bedrooms | $263.6K | $273.1K | +3.6% |
| 4 Bedrooms | $355.9K | $361.1K | +1.5% |
| 5+ Bedrooms | $474.6K | $485K | +2.2% |
Summary: Northwest Oklahoma City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.6%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Bluff Creek | $246K | $260K | +5.7% |
| Northwest Oklahoma City | $290.6K | $304.9K | +4.9% |
| Glenhurst | $380K | $393.5K | +3.6% |
Housing Supply in Northwest Oklahoma City, OK
How many homes are available in Northwest Oklahoma City, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,235 | 1,293 | +4.7% |
Summary: The Northwest Oklahoma City real estate market had 1,293 homes for sale in May 2024, a 4.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 11 | +37.5% |
| 2 Bedrooms | 62 | 68 | +9.7% |
| 3 Bedrooms | 596 | 599 | 0.5% |
| 4 Bedrooms | 497 | 535 | +7.6% |
| 5+ Bedrooms | 72 | 80 | +11.1% |
Summary: The Northwest Oklahoma City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 306 | 281 | -8.2% |
Asking Price vs. Sold Price
107 Homes Were Sold
Under Asking
121 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest Oklahoma City, expect to pay close to the asking price. 43.1% of homes here sold near the asking price last month.
Summary: A total of 281 homes were sold or pending in Northwest Oklahoma City in May 2024, down by 8.2% month-over-month. Of the 281 sold homes, 38% were sold under asking, 43% were sold at asking, and 19% were sold over asking.
Days on Market for Northwest Oklahoma City, OK
How long does it take to sell a home in Northwest Oklahoma City, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 40 Days | +36.5% |
Summary: Homes in Northwest Oklahoma City had an average of 40 days on market in May 2024, up by 36.5% compared to last year.
Breakdown of Home Sale Times
183 Homes Were Sold
Under 30 Days
52 Homes Were Sold
In 30 - 90 Days
46 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest Oklahoma City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 281 homes were sold in Northwest Oklahoma City; 65% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
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