Oklahoma City-area Realtors see best numbers in five years

Oklahoma City-area Realtors are parading into the second half of what looks to be a post-housing slump banner year, with tattered 2007 statistics furled in the back of their minds.
by Richard Mize Published: July 28, 2012
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Oklahoma City-area Realtors are parading into the second half of what looks to be a post-housing slump banner year, with tattered 2007 statistics furled in the back of their minds.

Lorna Koeninger, president of the Metro Association of Realtors, checked off the comparisons with five years ago:

• Pending sales in June: 1,785, up 11.5 percent compared with June 2011 and the highest in five years.

• New listings of houses for sale: 2,415, down slightly and the lowest in five years.

• Current total listings: 7,670, lowest in five years.

Plus, the number of homes sold in June — 1,702 — was an increase of 10.3 percent compared with the same period last year; and the total value of homes sold, $286.5 million, was an increase of 13.5 percent.

The average sale price in June was $169,532, up 3.6 percent from June 2011.

“The housing market in Oklahoma City spun 2012 off to a running start in December 2011, earlier than expected and partly due to the moderate temperatures and low interest rates,” said Koeninger, an associate with Paradigm AdvantEdge Real Estate. “The market throughout the spring and summer months has shown continued improvement over five years ago.”

She cautioned that 100-plus-degree heat and preparations for school could dampen July numbers.

For their part, homebuilders pulled back a little as the dog days approached, Kurt Dinnes, owner of Oklahoma City's Sun Custom Homes and president of the Central Oklahoma Home Builders Association, said.

“I expected it to slow down some. A lot of permits have been pulled. There's been a surge,” he said. Activity, he said, “continues to be somewhat robust, but the big surge has already happened.”

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by Richard Mize
Real Estate Editor
Real estate editor Richard Mize has edited The Oklahoman's weekly residential real estate section and covered housing, commercial real estate, construction, development, finance and related business since 1999. From 1989 to 1999, he worked...
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