Is South Oklahoma 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, South Oklahoma City has remained a Seller's Market.
Housing Prices in South Oklahoma City, OK
How much do homes in South Oklahoma City, OK cost?
Median Sold Price
$249,273
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Oklahoma City was $249,273 in May 2024, up 3.3% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $148.9K | N/A |
2 Bedrooms | $161.7K | $181.7K | +12.4% |
3 Bedrooms | $230.6K | $231K | 0.2% |
4 Bedrooms | $300K | $303K | +1.0% |
5+ Bedrooms | $360K | $485K | +34.7% |
Summary: South Oklahoma City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 34.7%.
Median Sold Price Compared To Nearby Neighborhoods
South Oklahoma City | $241.3K | $249.2K | +3.3% |
Brandywine | $308.2K | $307.7K | -0.2% |
Housing Supply in South Oklahoma City, OK
How many homes are available in South Oklahoma City, OK?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
284 | 300 | +5.6% |
Summary: The South Oklahoma City real estate market had 300 homes for sale in May 2024, a 5.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 17 | 21 | +23.5% |
3 Bedrooms | 167 | 173 | +3.6% |
4 Bedrooms | 88 | 94 | +6.8% |
5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The South Oklahoma City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 23.5%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
69 | 72 | +4.3% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 72 homes were sold or pending in South Oklahoma City in May 2024, up by 4.3% month-over-month. Of the 72 sold homes, 38% were sold under asking, 44% were sold at asking, and 18% were sold over asking.
Days on Market for South Oklahoma City, OK
How long does it take to sell a home in South Oklahoma City, OK?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 23 Days | -16.3% |
Summary: Homes in South Oklahoma City had an average of 23 days on market in May 2024, down by 16.3% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 72 homes were sold in South Oklahoma City; 74% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.