OKC MARKET UPDATE: January 2025

Dated: February 15 2025

Views: 1124

The U.S. National Market

U.S. existing-home sales advanced for the third straight month, climbing 2.2% to a seasonally adjusted annual rate of 4.24 million units, a 10-month high, according to the National Association of REALTORS® (NAR). Sales were up 9.3% year-over-year, driven largely by purchases of homes priced $500,000 and above. Month-over-month, sales rose in the South, Northeast, and the West but fell in the Midwest, with all four regions reporting year-over-year gains.

  • New listings increased 46.4 percent for Single-Family homes and 37.7 percent for Townhouse-Condo homes.
  • Pending Sales increased 14.2 percent for Single-Family homes and 38.6 percent for Townhouse-Condo homes.
  • Inventory increased 52.4 percent for Single-Family homes and 86.2 percent for Townhouse-Condo homes.

Months’ Supply of Inventory

Months’ Supply of Inventory increased 44.0 percent for Single Family homes and 68.2 percent for Townhouse-Condo homes.

Median Sales Price Increases

Median Sales Price increased 4.0 percent to $253,000 for Single Family homes and 20.9 percent to $146,250 for Townhouse-Condo homes.

Average Days on Market Increases

Days on Market increased 16.7 percent for Single Family and 35.3 percent for Townhouse-Condo homes.

According to NAR, total housing inventory was 1.15 million units heading into January, a 13.5% decrease from the previous month but a 16.2% increase from the same period one year earlier, for a 3.3-month supply at the current sales pace. Housing supply remains down compared to pre-pandemic levels, and the limited number of homes on the market continues to push sales prices higher nationwide, with the median existing-home price rising 6% year-over-year to $404,400.

Content courtesy of MLSOK
https://okcmar.org/wp-content/uploads/2025/02/Jan_2025_MLS_Report.pdf

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Amy Chambers

Amy Chambers is a Managing Broker and trusted Realtor serving Southwest Oklahoma City and Moore, OK. She understands that homeownership is a big deal—and that getting there is both exciting and ....

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