What is happening in the Oklahoma housing market this month? Let’s dive in as we talk about whether now is a good time to buy, sell, or invest.

There are three numbers you should pay attention to this month:

1. Oklahoma experienced a decrease in inventory by 34% compared to last year.
2. Sellers experienced their homes sitting on the market an average of 26 days from list to close.
3. The average purchase price of homebuyers came in at $320,000 a 4% increase compared to last year.

How Does This Affect Homebuyers, Sellers, & Investors?

For homebuyers and investors, the decrease in inventory has led to pocket price points where some buyers are experiencing competition while in other price points buyers can expect to find little to no competition. To create a successful buying experience I recommend sitting down with a qualified real estate professional. Be open about what neighborhoods entice you the most and set a firm budget. Be honest about what type of home you are looking for, but allow some flexibility so potential homes do not slip through the cracks. Your real estate professional will be knowledgeable about neighborhood markets, help you consider future resale value, and help ensure you are not overpaying for your future home.

For sellers, now is more important to do as much preparation to get your home listing ready before you place it on the market it will help:

1. Attracting Buyers: A well-prepared home listing with attractive photos and a compelling description will attract more potential buyers. When buyers see an appealing listing, they are more likely to schedule a viewing and consider making an offer.
2. Maximizing Sale Price: A well-presented home can command a higher sale price. By taking the time to prepare the listing, sellers can showcase the property’s best features and create a positive first impression, which can lead to more competitive offers.
3. Faster Sale: Homes that are well-prepared and presented tend to sell faster. Buyers are more likely to show interest and make quicker decisions when they see a property that is well-maintained and aesthetically appealing.
4. Creating a Positive Perception: A professionally presented home listing helps create a positive perception of the property. It shows that the seller has taken care of the home and that it is in good condition, increasing buyer confidence in the purchase.
5. Standing Out in the Market: In a competitive real estate market, a well-prepared listing can help a property stand out among the sea of available homes. This can lead to more inquiries and increased foot traffic for viewings.
6. Avoiding Unnecessary Price Negotiations: A poorly presented listing may lead to lower initial offers from buyers who perceive the property as needing more work or being less valuable. A well-prepared listing can reduce the need for excessive price negotiations.
7. Appealing to Online Buyers: In today’s digital age, many homebuyers start their search online. A visually appealing listing with high-quality photos and accurate descriptions will catch the attention of online buyers and increase the chances of generating interest.
8. Building Trust: A well-prepared listing with accurate information builds trust with potential buyers. Buyers are more likely to feel confident about the property and the seller’s honesty, leading to smoother negotiations and a more positive overall experience.
9. Fewer Surprises for Buyers: A comprehensive and detailed listing that includes information about the property’s condition, features, and potential improvements reduces the likelihood of unexpected issues arising during the buyer’s inspection, which can cause delays or negotiations.
10. Agent’s Ability to Market Effectively: A well-prepared listing equips the real estate agent with the tools to market the property effectively. Agents can confidently promote the home, knowing it is accurately represented and appealing to potential buyers.

How Strong Is The Oklahoma Housing Market?

Overall, the Oklahoma housing market is very strong. The list-to-close rate this month surpassed last year and is trending very positively. Now is a great time to sell or purchase a home. Oklahoma is receiving an increase in investors coming to the area to invest in prime real estate. Oklahoma’s boosting economy has seen an influx in tech and industrial businesses and that number will continue to grow. If you are thinking about buying, selling, or investing in Oklahoma’s housing market now is the time to do so.