Is Broken Arrow, 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, Broken Arrow has remained a Seller's Market.
Key Takeaway
Broken Arrow is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Broken Arrow, OK
How much do homes in Broken Arrow, OK cost?
Median Sold Price
$292,699
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Broken Arrow have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Broken Arrow was $292,699 in May 2024, up 6.4% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $411.5K | $147.5K | -64.2% |
| 2 Bedrooms | $160K | $197.5K | +23.4% |
| 3 Bedrooms | $242.6K | $254.1K | +4.7% |
| 4 Bedrooms | $340K | $346.6K | +2.0% |
| 5+ Bedrooms | $389K | $469K | +20.6% |
Summary: Broken Arrow housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64.2%, 2 bedroom homes increased by 23.4%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 20.6%.
Median Sold Price Compared To Nearby Cities
| Coweta | $249K | $269.9K | +8.4% |
| Broken Arrow | $275K | $292.8K | +6.5% |
| Broken Arrow | $274.9K | $292.6K | +6.4% |
| Tulsa | $224.1K | $229.9K | +2.6% |
Housing Supply in Broken Arrow, OK
How many homes are available in Broken Arrow, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 814 | 901 | +10.7% |
Summary: The Broken Arrow real estate market had 901 homes for sale in May 2024, a 10.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 19 | 21 | +10.5% |
| 3 Bedrooms | 405 | 468 | +15.6% |
| 4 Bedrooms | 334 | 347 | +3.9% |
| 5+ Bedrooms | 53 | 61 | +15.1% |
Summary: The Broken Arrow housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 15.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 201 | 208 | +3.5% |
Asking Price vs. Sold Price
83 Homes Were Sold
Under Asking
72 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Broken Arrow, you may be able to get a good deal. 39.9% of homes here sold below asking price last month.
Summary: A total of 208 homes were sold or pending in Broken Arrow in May 2024, up by 3.5% month-over-month. Of the 208 sold homes, 40% were sold under asking, 35% were sold at asking, and 25% were sold over asking.
Days on Market for Broken Arrow, OK
How long does it take to sell a home in Broken Arrow, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 31 Days | +35.7% |
Summary: Homes in Broken Arrow had an average of 31 days on market in May 2024, up by 35.7% compared to last year.
Breakdown of Home Sale Times
151 Homes Were Sold
Under 30 Days
35 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Broken Arrow are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 208 homes were sold in Broken Arrow; 73% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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