Hello OKC Metro Friends! It’s Ronnie Jordan with My OKC Metro Life! And today I’m back with another OKC Metro Market Update for the OKC Metro areas that I serve, for January 2022!
Now we are Deep in the winter months and while our real estate markets has slowed down some since December, OKC Metro Real Estate is still seeing a lot of activity!
So here’s the scoop!
OKC Metro Market Update – Average Sales Price
January results show the average sale price for the areas I serve dipped from $277,00 in December to $274,000 in January
Not huge, but I wanted to point it out.
OKC Metro Market Update -Days on the Market (DOM)
The Days on Market, or DOM increased nearly 28% from 18 days to 23 days.
Now, while this may sound like a lot, it’s not really. Here’s why…
If we were in a more normal market where the average days on the market was say, 45 days, 28% would be pretty significant, like 13 or 14 days more significant!
But since we are in a Sellers Market where homes are going fast and where the average days on the market was 18 day. Then jumping to 23 days is not a significant amount of time for a home to become stale.
OKC Metro Market Update – Number of Homes Sold
Now, regarding the number of homes sold last month? Well that dropped by 42%, from 1582 to 1112. This is significant, but pretty normal this time of year, as real estate tends to slow down in December and January.
So, the market is showing signs of slowing down, as I showed you
with the DOM results.
OKC Metro Market Update – Active Listings
There has also been a decline in the Active Listings from last December’s to January’s 953. This is approximately 30%.
Again, this is in part due to the time of year in this industry. So overall the OKC Metro Real Estate Market is seeing a usual winter slow down in terms of homes put up for sale homes sit on the market.
The Bottom Line….
It’s a Great Time to sell your home! Think about it….
With less homes on the market, you have less competition! And tons of buyers out there!
But, it’s also a good time to buy a home in certain price ranges and certain locations in the OKC Metro.
So if you’re thinking of buying, selling, or even investing…..I’m here to help!
Just text or call me at 210-279-7990. Or send me an email at [email protected]
You can also find me on my Lifestyle website, myokcmetrolife.com
Or my Real Estate Company website, okcmetrogroup.com
Also on Facebook and Instagram, #myokcmetrolife
Now is a great time to get with me as Spring is around the corner. I’m Ronnie Jordan. Thanks for tuning into My OKC Metro Life and this Market Update edition.