In the Oklahoma City real estate scene, the pickings are slim, and the homes are few. The inventory of available properties is at all-time lows in some areas, leaving eager buyers scouring the market for their dream home. But fear not, we've got your back. Below we show the current existing (non-new construction) home market in OKC.

Extremely Low Numbers

We are seeing numbers under 25 in areas like Piedmont, Mustang, Newcastle and Choctaw with Moore at 25 as you can see in the graphic below. But the stranger part is the second graphic which shows Days on Market for each of these areas being close to the typical 90-day average we see in this area.

Days on Market

Houses are staying on the market at an average near 90-days in most towns around the metro even though we are at extremely-low inventory. The key is to remember that these are the averages for the homes not on the market right now. Houses are still selling at very fast averages, but these are the homes that are not being accepted by the market for a multitude of reasons and we know they are few and far between. The current Average Days on Market for the same existing homes that are currently under contract right now is 40. (MLSOK)

What homes are sitting on the market?

As you can see in the graphic above, the average list price is extremely high per square foot for the houses that are sitting on the market. The average under contract price for the same area of existing homes is $145 per square foot. These homes on average are just priced higher and have limited buyer pools. The average list price of active existing homes in Mustang is over $800,000! (MLSOK)

What Does It Mean For You?

As the sun shines brighter and the flowers bloom, the housing market is revving up its engines. Correctly-priced homes are still flying off the shelves, and the pace is only expected to pick up. But, gone are the days of easy sales at sky-high prices. In today's market, a well-priced and effectively marketed home is the key to unlocking a successful sale. And guess what? We hold the key to unlocking that success!