OKHomeFinder.com is the best web site to locate homes currently for sale in the Oklahoma City OK area. In the last 15 years, Oklahoma City has developed into a major metropolitan area. The metropolitan Oklahoma City area is well known for the quality of its schools and quality of life. There are three Edmond OK high schools, three Putnam City high schools and one Deer Creek high school.
Recent Market Statistics for the Oklahoma City OK Home Market
3,250 active home listings at this time
79 days on the market for recently sold homes
557 homes in Oklahoma City OK pending sale
1,664 homes sold in Oklahoma City OK in the past 90 days
139,071 average sales price in the past 90 days
1,685 average square footage of homes sold in the past 90 days
78.45 average price per square foot for the past 90 days
This information is for the past 90 days, September 1
thru November 30, 2008, updated on December 23, 2008.
So far there have been a total of 6,138 homes sold in Oklahoma City OK in 2008.
The average sales price of an Oklahoma City OK home was $219,902 in November of 2008. The average square footage for the sold homes is about 2,226 square feet of living space and the average days on market was 79.
The were 232 Oklahoma City OK homes sold in November of 2008, the highest priced home sold for $899,999 and the lowest priced home sold for $65,000.
The price of Oklahoma homes is consistently recognized for their affordability in comparison to the rest of the country.
And, since the Oklahoma City Thunder relocated to our area in October of 2008, we are the newest NBA city in the country.
Due to the strength of the Oklahoma economy, the median home price grew 31.6% between 2001 and 2006. More recently, in the 2nd quarter of 2007, home prices rose 3.1% over the same period a year ago. This has been good for Oklahoma City OK home values. Even though we have experienced steady growth, we have not been subjected to the wild swings in values experienced by other parts of the country. We do not have a "housing bubble" in Oklahoma City OK.
Oklahoma is only one of four states in the country that has actually experienced a decline in the foreclosure rate from 2007 to 2008, which is a tribute to the state's economy and housing market.
Why is Oklahoma City OK real estate so strong? Because the real estate fundamentals are positive:
1. Oklahoma has healthy job and population growth.
2. More than 19,600 people moved into Oklahoma than moved out.
3. Oklahoma's employment gain beat the national average by nearly 1%.
According to the "Best Cities for Jobs" report recently released by Forbes magazine, Oklahoma City was 10th in the rankings in the largest 100 metropolitan areas included in the rankings. The rankings included five criteria weighted equally: unemployment, job growth, income growth, median household income and cost of living. These are the strongest factors that determine the health of the housing market in any market.
Sales tax collections for Oklahoma City OK are currently about 4% ahead of 2007 and Oklahoma City's city government is fiscally sound.
Oklahoma City OK current population is about 480,000. Growth the last 5 years has been strong and we have recently experienced a strong growth in the retail business from major retail stores and restaurants.
Oklahoma City OK is no longer the "desolate plain" as depicted in the past.
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