We just received our final numbers from September, and they confirm some hunches we’ve had about our Oklahoma City market recently.
Year to date, our level of inventory is up 8.6% and our number of closed sales are up 4.6%. New listings hitting the market continue to outpace sold properties, so we might see a shift toward a buyer’s market coming soon. We thought as much back in September, and these numbers prove that notion.
We saw an upswing of 21% more new listings in September 2017 compared to September 2016. There was also a 9% reduction in closed properties in September 2017 compared to September 2016. In total, that’s a 30% swing in inventory levels. There are a lot more homes hitting the market and a lot fewer homes being sold, so if your house has been on the market in the last several weeks or months, this reduced activity might make things more difficult.
This is why it’s important that you work with an agent who’s in tune with the market so they can advise you properly and help you make the best decision for you and your family.
If you have any more questions about our Oklahoma City market or you’re thinking about buying or selling a home soon, don’t hesitate to give me a call or shoot me an email. I’d love to help you.