Is Mustang, 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, Mustang has remained a Seller's Market.
Key Takeaway
Mustang is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mustang, OK
How much do homes in Mustang, OK cost?
Median Sold Price
$270,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mustang have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in Mustang was $270,000 in May 2024, up 0.8% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $224.9K | $123.7K | -45.0% |
| 2 Bedrooms | $153.2K | $192K | +25.3% |
| 3 Bedrooms | $229.8K | $240K | +4.4% |
| 4 Bedrooms | $314.3K | $320K | +1.8% |
| 5+ Bedrooms | $400.9K | $402.8K | 0.5% |
Summary: Mustang housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45%, 2 bedroom homes increased by 25.3%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Oklahoma City Southwest | $210K | $214.9K | +2.4% |
| East Canadian | $275K | $279.2K | +1.5% |
| Mustang | $267.8K | $270K | +0.8% |
| Oklahoma City | $248.9K | $250K | 0.4% |
Housing Supply in Mustang, OK
How many homes are available in Mustang, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 192 | 194 | +1.0% |
Summary: The Mustang real estate market had 194 homes for sale in May 2024, a 1.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 96 | 91 | -5.2% |
| 4 Bedrooms | 82 | 87 | +6.1% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Mustang 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 remained the same, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 47 | -7.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mustang, expect to pay close to the asking price. 55.3% of homes here sold near the asking price last month.
Summary: A total of 47 homes were sold or pending in Mustang in May 2024, down by 7.8% month-over-month. Of the 47 sold homes, 28% were sold under asking, 55% were sold at asking, and 17% were sold over asking.
Days on Market for Mustang, OK
How long does it take to sell a home in Mustang, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 39 Days | +25.1% |
Summary: Homes in Mustang had an average of 39 days on market in May 2024, up by 25.1% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mustang are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 47 homes were sold in Mustang; 68% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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