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

30 units

Avg price: $148,875

Median price: $140,000

July 2007 sales

54 units

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.

 
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6 Comments on Mustang, OK July sales less than July '07

AUG
19
2008
Outside Blog

Aloha Stev,

Welcome to the wild world of real estate. Don't feel like the lone ranger this is something that is taking place all over america.
2:56am • #1
Outside Blog

Aloha Stev,

Welcome to the wild world of real estate. Don't feel like the lone ranger this is something that is taking place all over america.
2:56am • #2

Bill---you're right about that. I'll be interested to see figures for other cities in the OKC metor area like Yukon, Edmond, and Moore to name a few.
8:02am • #3
AUG
21
2008

Well, unfortunately the "real estate slowdown" has just about hit every area of the country, some of course more so than others.  Sales in metro Atlanta are quite flat, however around Tampa Bay, median priced homes are still selling well.  Beach properties are another story - nothing is moving.

Good luck,

Carole
2:37pm • #4
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Steve, we would like to have a 6 month supply, ours is closer to 14 months. I like the name of  this suburb. Is that where Sally lives???  8-)
4:29pm • #5

Mustang Sally? we're telling our age. How about the town just north of Mustang--it's Yukon!
8:43pm • #6


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Steve Mangus

Oklahoma City, OK

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Metro First Realty

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