Is Midwest 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, Midwest City has remained a Seller's Market.
Key Takeaway
Midwest City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Midwest City, OK
How much do homes in Midwest City, OK cost?
Median Sold Price
$177,046
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Midwest City have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Midwest City was $177,046 in May 2024, up 5.8% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $83.7K | -6.9% |
| 2 Bedrooms | $112.9K | $110K | -2.7% |
| 3 Bedrooms | $170K | $184.5K | +8.6% |
| 4 Bedrooms | $215K | $220K | +2.3% |
| 5+ Bedrooms | $293.3K | $240K | -18.2% |
Summary: Midwest City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.9%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 18.2%.
Median Sold Price Compared To Nearby Cities
| Nicoma Park | $164.5K | $215.9K | +31.3% |
| Oklahoma City Southeast | $184.1K | $195.8K | +6.4% |
| Spencer | $145K | $153.7K | +6.0% |
| Midwest City | $167.4K | $177K | +5.8% |
| Choctaw | $296.6K | $309.8K | +4.4% |
Housing Supply in Midwest City, OK
How many homes are available in Midwest City, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 254 | 246 | -3.1% |
Summary: The Midwest City real estate market had 246 homes for sale in May 2024, a 3.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 22 | 20 | -9.1% |
| 3 Bedrooms | 168 | 162 | -3.6% |
| 4 Bedrooms | 49 | 51 | +4.1% |
| 5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The Midwest City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 72 | -10.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Midwest City, expect to pay close to the asking price. 38.9% of homes here sold near the asking price last month.
Summary: A total of 72 homes were sold or pending in Midwest City in May 2024, down by 10.0% month-over-month. Of the 72 sold homes, 32% were sold under asking, 39% were sold at asking, and 29% were sold over asking.
Days on Market for Midwest City, OK
How long does it take to sell a home in Midwest City, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 24 Days | +104.6% |
Summary: Homes in Midwest City had an average of 24 days on market in May 2024, up by 104.6% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Midwest City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 72 homes were sold in Midwest City; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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