Steve Hermann's February Ponca City Market Report

By
Real Estate Agent with Coldwell Banker Heritage REALTORS

These statistics were taken from the North Central Board of REALTORS MLS for the month of February.

At the end of the month there were 87 Active listings with Ponca City addresses.  The average List price was $122,935 and the average Days on Market was 99.

There were 23 homes SOLD in February.  The average price was $138,995 and the average days on market was 97.

The general analysis is home sales increased almost two-fold from January.  The absorbtion rate is 3.8.  Which means that at the rate homes sold in February we would eliminate the inventory in 3.8 months.  This is a low rate and indicates a sellers market.  The supply of homes does not meet the demand of buyers.  This also causes prices to increase. 

It's a great time to list your home on the market.  For more information regarding these statistics please contact Steve Hermann @ 580-763-4853 or email stevehermann@cableone.net

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