Is the Oklahoma Real Estate Market beginning to stall ... well I am seeing builders up their concessions and lower their prices. If the Builders are making these moves and supply is increasing well ... I would have to say yes.
Just look at the inventory supply chart below, it is still increasing.
Also the Median Sales Price went from 175,000 in July to 169,900 in August. Three consecutive months of decline and one would have to believe that the market has shifted to a Buyer's market.
What does this mean as a Seller???? Price your property right, if inventory continues to increase but demand remains the same or WORSE decreases, an over priced seller may end up losing 15,000 in equity gain over 90 days if they do not price at market. Just looking at July to August stats, that is a 5k decease and the Average sold price saw similar changes.
Know your market and know what side of the table your on, the Sell or the Buy and react correctly.
Josh Barnett, Broker
Oklahoma Real Estate Crew
Cell # 405-315-7965
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