$3,088 Closing Credit*
$260,000
2,188 SqFt
4 Beds
•2 Full Baths, 1 Partial
Madelyn Cloud, Stacia Ranallo, Listing Office: Sage Sothebys Realty
Is Norman, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Norman was a Seller's Market.
Key Takeaway
Norman is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Norman, OK
How much do homes in Norman, OK cost?
Median Sold Price
$275,013
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$13,894(+5.3%)
Key Takeaway
Homes in Norman have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Norman was $275,013 in November 2024, up 5.3% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102.5K | $94.2K | -8.0% |
| 2 Bedrooms | $148K | $159K | +7.4% |
| 3 Bedrooms | $242.1K | $252.4K | +4.3% |
| 4 Bedrooms | $360.6K | $365K | +1.2% |
| 5+ Bedrooms | $498.1K | $470K | -5.6% |
Summary: Norman housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Slaughterville | $206.1K | $249.9K | +21.2% |
| Newalla | $257.5K | $280.9K | +9.1% |
| Norman | $261.1K | $275K | +5.3% |
| Moore | $220K | $221.6K | +0.8% |
| North Cleveland | $249.9K | $248.2K | -0.7% |
Housing Supply in Norman, OK
How many homes are available in Norman, OK?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 634 | 609 | -3.9% |
Summary: The Norman real estate market had 609 homes for sale in November 2024, a 3.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 76 | 68 | -10.5% |
| 3 Bedrooms | 306 | 284 | -7.2% |
| 4 Bedrooms | 194 | 198 | +2.1% |
| 5+ Bedrooms | 52 | 52 | 0.0% |
Summary: The Norman housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 124 | 92 | -25.8% |
Asking Price vs. Sold Price
54 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norman, you may be able to get a good deal. 58.7% of homes here sold below asking price last month.
Summary: A total of 92 homes were sold or pending in Norman in November 2024, down by 25.8% month-over-month. Of the 92 sold homes, 59% were sold under asking, 28% were sold at asking, and 13% were sold over asking.
Days on Market for Norman, OK
How long does it take to sell a home in Norman, OK?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 40 Days | 40 Days | 0.4% |
Summary: Homes in Norman had an average of 40 days on market in Nov 2024, up by 0.4% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norman are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 92 homes were sold in Norman; 53% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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