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OKC MARKET UPDATE: March 2025
Dated: April 14 2025
Views: 2330
U.S. existing-home sales rebounded from the previous month, rising 4.2% to a seasonally adjusted annual rate of 4.26 million units, according to the National Association of REALTORS® (NAR). Economists polled by Reuters had forecast sales would fall to a rate of 3.95 million for the month. Purchase activity increased in the South and the West but decreased in the Northeast, while sales in the Midwest remained unchanged from one month earlier.
- New listings increased 21.4 percent for Single-Family homes and 15.1 for Townhouse-Condo homes.
- Pending Sales increased 13.5 percent for Single-Family homes but decreased 7.5 percent for Townhouse-Condo homes.
- Inventory increased 45.0 percent for Single-Family homes and 60.1 percent for Townhouse-Condo homes.
Months’ Supply of Inventory
Months’ Supply of Inventory increased 44.0 percent for Single Family homes and 48.1 percent for Townhouse-Condo homes.
Median Sales Price Increases
Median Sales Price increased 3.2 percent to $259,990 for Single Family homes and 4.1 percent to $165,000 for Townhouse-Condo homes.
Average Days on Market Increases
Days on Market increased 5.8 percent for Single Family and 162.5 percent for Townhouse-Condo homes.
Heading into March there were 1.24 million properties for sale, a 5.1% increase from the previous month and a 17% jump from one year ago, for a 3.5-month supply at the current sales pace, according to NAR. While mortgage rates have remained in the mid-to-high 6% range, the additional supply appears to have helped bring some buyers out of the woodwork, even as sales prices continue to rise nationwide.
Content courtesy of MLSOK
https://okcmar.org/wp-content/uploads/2025/04/Mar_2025_MLS_Report.pdf
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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