Oklahoma average home price increases in June

Improving sales, strong prices and reductions in inventory all bode well for the single-family marketplace, according to the Oklahoma Association of Realtors.
Published: August 29, 2012
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Oklahoma ties

State home price average is up

The statewide average home sale price was up in June compared with June 2011, more houses sold, and they sold faster, according to the Oklahoma Association of Realtors.

Oklahoma Realtors handled the sale of 3,725 houses, an increase of 7.9 percent, at an average price of $161,207, which was 3.75 percent more than last year.

Houses sold in an average of 76.9 days, which was 6.2 days faster than in June 2011.

June ended with 22,400 houses on the market, a decrease of 14.76 percent from a year ago.

June saw 5,980 new listings, down 9.6 percent from last year's 6,618.

“Sales success for June 2012 is positive,” the association said in its June inventory analysis summary. “Overall, with average prices going up and days on market decreasing, the listed-versus-closed ratio finished strong again this month. Closed-versus-listed trends yielded a 62.3 percent ratio, up from last year's June at 52.2 percent, a 19.42 percent upswing.

“This will certainly create pressure on a decreasing Month's Supply of Inventory (MSI) in the following months to come.”

RICHARD MIZE, REAL ESTATE EDITOR



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