New Real Estate Data Shows Spike In OKC Listings

There’s a glimmer of hope for Oklahoma City home buyers as new data show a major increase in listings for the month of June. 

Oklahoma City Metropolitan Association of Realtors released the latest June numbers, showing more than 4,600 new listings. In May, there were fewer than 3,000. 

In Mesta Park, it’s moving day for Nick and Sarah Gavrizi. Despite leaving a now empty house full of memories, there is still joy. Back in May, their home sold just over asking in days. 

“We had an open house the first weekend that we put it on the market, and we had a lot of interest,” says Sarah. “We ended up getting a lot of interest in that first weekend.” 

The home was under contract until Tuesday. That has been a common occurrence in the red-hot seller’s market over the last 2 years, but new data from June show it may be cooling slightly. 

“The homes are staying on the market a little bit longer,” says MLSOK President, Angelena Harris. 

She says the reason is increased inventory. 

“It started in June. We increased by 1,600 listings overnight almost,” Harris explains. “It’s given the buyers a little bit more time to look around at properties. They still have to make quick decisions, but not like they were.” 

Harris says it’s still very much a seller’s market with median sales prices rising nearly 14% from May. 

Even with the increase, there is still only about one month of inventory. 

“A balanced market is 6 months,” says Harris. “On average Oklahoma does typically 4 to 5 months.” 

Nick and Sarah had more difficulty finding their new home in Austin. It was their 6th or 7th offer that got accepted. 

Still, they feel lucky. They hope at least on the selling end, they listed at the right time.