MUSTANG REAL ESTATE MARKET REPORT NOVEMBER 2016
MUSTANG OK 73064
AS OF DECEMBER 4, 2016
INFO THAT HITS US WHERE WE LIVE ... Those of us who are optimistic about the housing market were well looked after last week. The National Association of Realtors (NAR) reported Pending Home Sales in October hit their highest pace since July. This was only a slight gain over September, but 1.8% ahead of a year ago. The NAR's chief economist pointed out, "buyer demand has remained strong...in a majority of metro areas." The evidence? Of the homes purchased in October, 40% sold at or above list price, versus 33% a year ago. And the NAR predicts existing home sales will end the year at a 5.36 million annual pace, up from 5.25 million in 2015.
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- The average property in Mustang has been on the market for about 126 days
- The median price per square foot for homes in Mustang is about $117
- There are about 162 properties on the market in Mustang
- The median single family home price for Mustang, OK is $242,535
- With a Market Action Index as of December 4, 2016 at 27.60 (MAI Index - over 30 indicates Sellers Market; below 30 Buyers Market)
So there you have it, my Dear Reader, MUSTANG REAL ESTATE MARKET REPORT NOVEMBER 2016.
Did you notice that the price per square foot went up by a dollar since last month?
We are in the buyer's market, which is reflected in MAI Index.
Also the interest rates are on the upswing ... check the rates below:
Are you ready to make a move? We will be happy to assist you, your family or friends with any real estate transaction.
Looking forward to hearing from you!
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