Houses in the metro area sold a week and a half faster last month on average compared with April, and the average price rose more than 10 percent — and jumped 15 percent year to year.
But sales didn't reflect the spring boom Realtors were hoping for, and the jump in average price had to do with the mix of properties that sold, not property values in general, Real
Home prices here have fallen this year but remain firm compared to most of the nation — and a dream compared to markets hard
Oklahoma City-area home prices fell 2 percent over the course of the first quarter and were 1.72 percent lower at the end of March than at the end of March 2010, according to the Federal Housing Finance Agency's all-transactions index, which tracks purchases as well as refinanced mortgages. Nationally, prices fell 2.7 percent in the first quarter and 3.1 percent year to year.
So, what explains the hike in average sales prices here in May?
After months of lingering on the market, upscale houses are starting to sell again, said Ryan Hukill, a Realtor with Paradigm Advant
Hukill said the homes he sells average between $225,000 and $240,000, which means he sells quite a few at $350,000 and above, which has been sluggish. “Fall and winter were dismal. The past two months have started to pop,” he said.