$49,900
2.67 Acres
Land
Don Wright, Angela Grant, Listing Office: Chamberlain Realty LLC
Is Luther, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Luther has remained a Seller's Market.
Key Takeaway
Luther is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Luther, OK
How much do homes in Luther, OK cost?
Median Sold Price
$280,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$4,500(-1.6%)
Key Takeaway
Homes in Luther have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Luther was $280,000 in December 2024, down 1.6% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $430K | +53.6% |
| 2 Bedrooms | $259K | $162K | -37.5% |
| 3 Bedrooms | $274K | $311K | +13.5% |
| 4 Bedrooms | $326.7K | $562K | +72.0% |
| 5+ Bedrooms | $1.6M | $650.1K | -59.4% |
Summary: Luther housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.6%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 72%, and 5+ bedroom homes decreased by 59.4%.
Median Sold Price Compared To Nearby Cities
| Oklahoma City Northeast | $450K | $482.2K | +7.2% |
| Luther | $284.5K | $280K | -1.6% |
Housing Supply in Luther, OK
How many homes are available in Luther, OK?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The Luther real estate market had 14 homes for sale in December 2024, the same as November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Luther housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Luther, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Luther in December 2024, down by 25.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.
Days on Market for Luther, OK
How long does it take to sell a home in Luther, OK?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 62 Days | 28 Days | -54.8% |
Summary: Homes in Luther had an average of 28 days on market in Dec 2024, down by 54.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Luther are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 3 homes were sold in Luther; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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Listings courtesy of Heartland Multiple Listing Service Inc. as distributed by MLS GRID.