January OKC Real Estate Market Report
As reported by the Oklahoma City Realtor Multi-List Real Estate Market numbers are showing favorable for Sellers as sales were up by 53 more sales in January over last year in the OKC Metro Area. According to MLSOK Statistics New Listings to the market were up as well to 2,590 homes his the market. Average sales price for number was also up, however days on market down 2 days over last year. It is the expectation from most of the Real Estate Professionals in the United States and locally, that we will continue to see improvements.
Interest Rates on the Rise
Interest rates are expected to continue to climb this year is what analysists are predicting. We have seen several loan types exceed 4.5%. This number may seem high based on the last few years, yet interest rates continue to be within historically low percentages. The small increase though could be the difference in raising your monthly payment $70-$100 a month.
The Oklahoma City Metro, from Edmond to Norman to Choctaw to Mustang we see the market perfect for both Buyers and Sellers. A market that favors one over the other is not a win-win for the individual who is looking to do both. It is why now, more than ever, is the time to buy and time to sell.