Market Statistics and Summary for the Oklahoma City Metropolitan Area: Oct. 2016 results
* October Active listing inventory(supply) decreased 7.89% when compared to October 2015.
* New listings dipped by more than 7% when compared to October 2015, however, year-to-date listings have increased 4.39%.
* The average sales price dropped slightly to $184,029 versus 2015 at $187,703, but is up from last month’s number of $182,834.
* Average days on the market increased from 54.95 last year to 60.45 this October.
* Pending sales were up 4.60% in October versus the same time last year.
The market in the metro appears to be slowing slightly, which is expected for this time of year heading into the holiday season. But the fact that listing inventory is down while pending sales are up, combined with the fact that interest rates are still at near-historic lows, means there is still opportunities for both buyers and sellers in our current market.