FOR IMMEDIATE RELEASE
LAWTON HOME VALUES INCREASE BY 5.68 PERCENT IN 2007
OAR's "Good Thing You're in Oklahoma" Campaign To Present the Facts About the Oklahoma and Local Real Estate Markets
OKLAHOMA CITY, Oklahoma, March 6, 2008 - Home values in Lawton increased in 2007 by nearly six percent, according to a report released today by the Lawton Board of REALTORS®. The report, based on local and statewide polling sponsored by the Oklahoma Association of REALTORS® (OAR) contradicts national media coverage on a national residential housing downturn.
The report is part of OAR's "Good Thing You're in Oklahoma" campaign, a research-based effort to inform home buyers and sellers about the facts in Oklahoma's housing market.
Lawton residential real estate bucked the national trend in both home values and sates volume in '07. The average sales price for an existing home in Lawton rose by 5.68 percent last year, from $109,668 in 2006 to $115,902 in 2007. Statewide, the average sale price for an existing home in Oklahoma increased by 4-24 percent in 2007, from $143,669 in 2006 to $149,758 in 2007.
"While the real estate industry in some parts of the country is facing some serious challenges, today's report underscores the fact that home ownership throughout Oklahoma continues to be an affordable, stable and secure investment," said Tammy McCullar, OAR president "Our 'Good Thing You're in Oklahoma' campaign is designed to present the facts about the Oklahoma housing market, which remains an affordable, stable and secure source of value as a long-term investment."
Since 2002, the average sales price of an existing home in Lawton has risen by an average of 8.61 percent per year. The average sales price for an existing home in Lawton in 2007 reflects almost a 51 percent increase from the 2002 average sales price for an existing home of $76,702.
"The housing market in our part of the state is trending in a positive direction and not reflecting what's happening on a national level. That's why we believe it's important that Lawton residents know the facts about our community," said Betsy Parks, 2008 president of the Lawton Board of REALTORS® - one of the 25 OAR local boards in the state. "The most important fact emerging from our research is that home values remains a bargain, compared to almost any housing market in the nation, and a great investment in terms of the increasing value of our residential property".
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