April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.
New Listings increased 23.1 percent for Single Family homes and 27.9 percent for Townhouse‐Condo homes. Pending Sales increased 41.2 percent for Single Family homes and 83.0 percent for Townhouse‐Condo homes. Inventory decreased 54.0 percent for Single Family homes and 56.3 percent for Townhouse‐Condo homes.
Month’s Supply of Inventory decreased 60.9 percent for Single Family homes and 62.5 percent for Townhouse-Condo homes.
Median Sales Price increased 11.0 percent to $210,756 for Single Family homes and 32.3 percent to $147,500 for Townhouse-Condo homes.
Days on Market decreased 36.6 percent for Single Family homes and 34.3 percent for TownhouseCondo homes.
In the spirit of Wayne Gretzky, buyers, sellers, and their agents are all trying their best to skate to where the puck, or rather, the housing market, is going, not where it has been. While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.
Listed below are the monthly Oklahoma City Metropolitan housing statistics for the month of April 2021 as compared to March 2021 and April 2020. These statistics are supplied by MLSOK, Inc.
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If you are wondering how current national and global situations might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
