August 2017 real estate market condition for Oklahoma City

By
Real Estate Agent with The Virtual Real Estate Team 104556

 The Oklahoma City real estate market is always a steady as she goes type of a market that normally is balanced but this year we saw a strong increase in the number of homes for sale. This happened primarily in existing homes because we are way behind demand on new home starts. Overall inventory of sale homes shows a 20% increase but pending sales are keeping up. People might think that a big inventory increase is a negative but first consumer confidence is very high and that puts more houses on the market. Second the rapid rise in energy prices, the big increase in aerospace jobs like with Boeing, and companies like Amazon creating it's regional presence here because of the favorable business and tax climate also creates movement. With Oklahoma City being the dominate job market for increases in jobs and salary for Oklahoma the population of the metro area has grown to 1.373 million and the job increase this year of 8.5% over last year. If you are a buyer for a home to live in or an investor looking for positive cash flow and a great return, please contact us at joe@joepryor.com.

 

 

Comments (10)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

It is interesting how markets vary around the country.  We are low on inventory and high on buyer demand.

Aug 10, 2017 02:30 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Thanks for sharing about your Oklahoma City real estate. Sales are up and that means you are very busy.

Aug 10, 2017 08:50 PM
Shahar Hillel
Encino, CA
Mortgage Consultant, Loan Officer.

Great Real Estate market update for Oklahoma City.

Good weekend.

Aug 11, 2017 12:27 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, Joe, for telling us about your local real estate market.

Aug 11, 2017 03:31 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Joe our market is tight on inventory and flush on demand, and needless to say our prices and days on market confirm it, Endre

Aug 11, 2017 11:47 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Joe

There's something nice about a "steady as she goes" type of housing market...not something we are seeing here. Demand continues, inventory is down overall (but it's summer) and prices continue their climb.

Anyone interested in a primary home or an investment property in Oklahoma City should be in touch with you!

Jeff

Aug 12, 2017 08:37 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

We too have the supply/demand problem with low inventory. Sure wish we could return to a more balanced marketplace. Thanks for sharing the report with us. D 

Aug 13, 2017 07:02 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Joe Pryor - Construction of new homes is taking a long time here in my area too. I think it's happening all over the country. Your critique appears to be open and honest. Your analysis gives me lots of good information. 

Thank you. 

Aug 13, 2017 09:14 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

We all face inventory concerns depending on the price of the house Joe Pryor 

Aug 14, 2017 08:52 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Joe Pryor . . . . Thanks for sharing the August 2017 real estate market update for Oklahoma City.

Good luck and success.

Lou Ludwig

Aug 16, 2017 06:55 PM