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 May 2023
Since last year, Oklahoma City Southwest has remained a Seller's Market.
Key Takeaway
Oklahoma City Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oklahoma City Southwest, OK
How much do homes in Oklahoma City Southwest, OK cost?
Median Sold Price
$214,997
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oklahoma City Southwest have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Oklahoma City Southwest was $214,997 in May 2024, up 2.4% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | $95K | -9.5% |
| 2 Bedrooms | $145K | $152.9K | +5.5% |
| 3 Bedrooms | $206.7K | $210K | +1.6% |
| 4 Bedrooms | $292.6K | $295K | +0.8% |
| 5+ Bedrooms | $350K | $375K | +7.1% |
Summary: Oklahoma City Southwest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.5%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Cities
| Warr Acres | $181.5K | $200K | +10.2% |
| Oklahoma City Southwest | $210K | $214.9K | +2.4% |
| The Village | $220K | $223K | +1.4% |
| Oklahoma City | $248.9K | $250K | 0.4% |
Housing Supply in Oklahoma City Southwest, OK
How many homes are available in Oklahoma City Southwest, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,726 | 1,808 | +4.8% |
Summary: The Oklahoma City Southwest real estate market had 1,808 homes for sale in May 2024, a 4.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 38 | 40 | +5.3% |
| 2 Bedrooms | 321 | 356 | +10.9% |
| 3 Bedrooms | 879 | 914 | +4.0% |
| 4 Bedrooms | 380 | 383 | +0.8% |
| 5+ Bedrooms | 108 | 115 | +6.5% |
Summary: The Oklahoma City Southwest housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 6.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 449 | 414 | -7.8% |
Asking Price vs. Sold Price
192 Homes Were Sold
Under Asking
118 Homes Were Sold
At Asking
104 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oklahoma City Southwest, you may be able to get a good deal. 46.4% of homes here sold below asking price last month.
Summary: A total of 414 homes were sold or pending in Oklahoma City Southwest in May 2024, down by 7.8% month-over-month. Of the 414 sold homes, 46% were sold under asking, 29% were sold at asking, and 25% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 26 Days | +17.2% |
Summary: Homes in Oklahoma City Southwest had an average of 26 days on market in May 2024, up by 17.2% compared to last year.
Breakdown of Home Sale Times
304 Homes Were Sold
Under 30 Days
82 Homes Were Sold
In 30 - 90 Days
28 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oklahoma City Southwest are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 414 homes were sold in Oklahoma City Southwest; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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