It looks like the real estate slowdown has hit the Oklahoma City suburb of Mustang. This bedroom community of aprox 16,000 had significantly lower sales in July, '08 compared to July, '07
July 2008 sales
Avg price: $148,875
Median price: $140,000
July 2007 sales
Avg. price: $156,920
Median price: $145,450
There are currently 188 active listings in Mustang with an avg price of $201,695, and a median price of $163,975.
Total units sold this year through July 31: 230
Total units sold last year through July 31: 310
I wonder how much of the slowdown is due to economic conditions and how much is due to the much higher avg and median prices of active listings. One positive stat is the listing inventory sits at just over 6 months.