Oklahoma City, OK Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Are home prices dropping in Oklahoma? ›

The Oklahoma housing market isn't that competitive. The median home sales price in July 2024 has decreased in the past 3 months to $250,200. That's down 0.5% and $1,300 lower than July 2023 of last year. That is lower than the national median home sales price of $427,962.

Oklahoma City, OK housing market

The median listing home price in Oklahoma City, OK was $300K in July 2024, trending down -6.2% year-over-year. The median listing home price per square foot was $169. The median home sold price was $260K.

Across Oklahoma, there is a shortage of rental homes affordable and available to extremely low income households (ELI), whose incomes are at or below the poverty guideline or 30% of their area median income (AMI). Many of these households are severely cost burdened, spending more than half of their income on housing.

Despite its modest beginnings, Oklahoma City has blossomed into a dynamic metropolis of over 700,000 residents, embracing its diverse heritage while forging ahead with innovation and progress.

The months from March to June are the best time to buy a house in Oklahoma. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

How Much Money Do You Need to Live Comfortably in Oklahoma? MIT's Living Wage Calculator lists the “living wage” for a single individual in Oklahoma as $32,219 per year, or $15.49 per hour.

Homeowners spend $410,500 in total to build a house in the Sooner State, which is $174,500 more than the median sale price. Expensive labor, supply chain issues, and a rise in material costs can further increase your expenses. In most cases, it is more affordable to buy a home for sale in Oklahoma and move in quickly.

Closing costs or “settlement costs” are a set of final expenses paid for completing a real estate transaction. The seller and the buyer both pay closing costs in Oklahoma. In Oklahoma, real estate transactions are usually closed by title companies and attorneys.

What is the most profitable way to sell my house? ›

structural systems, including the roof, walls, floors, foundation and any basem*nt. plumbing, electrical, heating and air conditioning systems. the presence of any infestation or damage of wood-destroying organisms (in particular, termites) major fire or tornado damage.

Oklahoma home buyer stats

"Minimum" down payment assumes 3% down on a conventional mortgage with a minimum credit score of 620. If you're eligible for a VA loan (backed by the Department of Veterans Affairs) or a USDA loan (backed by the US Department of Agriculture), you may not need any down payment at all.

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Home values in Oklahoma City, OK · $300K Median listing home price · $169. Median listing home price/Sq ft · $260K Median sold home price&n...

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Oklahoma Housing Market Overview

In 2023, Oklahoma saw a spike in home prices and mortgage rates fueled by low inventory relative to the number of buyers. According to Redfin inventory in Oklahoma has increased year-over-year by 8.1% (new listings).

Oklahoma City – Capital of the U.S. state of Oklahoma

Oklahoma City is the capital city and is very landlord-friendly and one of the cheapest places in Oklahoma to invest in real estate. This state is not only a safe place but also a very affordable and ideal place for living.