View From Purcell, Oklahoma: June 2013

Monthly Housing Statistics - April 2013

Central Oklahoma Housing Report

Norman Board of Realtors

As I stated in the March housing report the trend is toward a seller's market and the same applies for April's data.

Prices are still low (but climbing), interest rates are at or near historic lows and the market statistics have shown a seller's market developing.

For the last four (4) months the Monthly Housing Statistics have been steadily improving for sellers. If you are looking to purchase now is the time to get off the fence and get into your new home.

All numbers are favorable to sellers and have been for 4+ months. The housing inventory is still below a 6 month supply and Days on Market is closing in on 90 days. Both of these statistics are strong indicators of a seller's market. We are not in a heavy seller's market yet, but the trend is heading that way.

Number of units sold year over year is up 36.84% and up 23.89% year to date. Sellers are getting more than 97% of asking price on average, as well. Plus, average sales price is up 14.59% year over year and 6.73% year to date.

What do all the numbers and graphs mean? Basically, more units are selling in less time and for more money! The housing market is still heating up and if you are in the market to purchase a home then purchasing now is likely better than waiting.

                                                                                                                                   
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