Hello everybody! This is Steve Hermann's March Market Report for the Ponca City Area, including the Ponca City limits and east of Ponca City, as well as Osage County with Ponca City Addresses. The statistics are collected from the North Central Board of REALTORS MLS.
Properties must have been moving in February and March! There were only 60 Active listings in the immediate Ponca City Area for March. The Average List Price was $130,000 with an average days on market of 135 days. The Lowest list price was $28,000 and the Highest List Price was $575,000.
On the MLS, 30 properties closed in the month of March. The Average sale price was $108,000 with an average Days On Market of 104. The lowest sale price was $19,000 with 0 days on market and the Highest sale price was $342,500 with 264 days on market. The total volume sold was 3.26 million.
The absorption rate of 3.46 proves their is a present shortage of active listings. At this rate the present inventory will sell in 3.5 months. This rate also suggests a sellers market.
Thank for tuning in! Any time you need more Ponca City Real Estate Information, feel free to contact me anytime at SteveHermann@cableone.net or, 580-763-4853.