median home prices

Total closed in February 2009 was 997 down ↓21.1% from the 1264 closed in February 2008.

The average price was $139,632 down ↓6.4 % from the February 2008 price of $149,107.

The median price was $123,500 down ↓1.2% from the February 2008 price of $125,000.

The average Days On Market for February 2008 was 94 down from 95 in 2008.

 Based on information provided to and compiled by MLSGateway.com, Inc. covering a period 2008 through 2009MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy.

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The number closed is sharply down indicating a slowing real estate market in Oklahoma City.  Often a sharp drop in the numbers sold will precede a corresponding sharp drop in prices.  Let’s hope this phenomena does not prove to be true in this case.

Total closed in January 2009 was 741 down ↓36.7 % from the 1170 closed in January 2008.

The average price was $146,837 down ↓5.9 % from the January 2008 price of $156,089.

The median price was $125,000 down ↓6.7% from the January 2008 price of $134,000.

The average Days On Market for November 2008 was 95 up from 92 in 2008.

 Based on information provided to and compiled by MLSGateway.com, Inc. covering a period 2008 through 2009MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy.

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Total closed in December 2008 was 971 down ↓17.0 % from the 1170 closed in December 2007.

The average price was $147,730 down ↓5.4 % from the December 2007 price of $156,089.

The median price was $127,000 down ↓5.2% from the December 2007 price of $134,000.

The average Days On Market for December 2008 was 86 down from 92 in 2007.

 Based on information provided to and compiled by MLSGateway.com, Inc. covering a period 2007 through 2008MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy.

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Home prices fell in all 4 regions.

Decline in median home price was 13.2%.  The Largest on record.

Existing home sales down 8.6%.

New home sales down 2.9%.

November new home sales are the lowest in 17 yrs.

The November numbers have just been released and they show decreasing Home Values as compared to the same time last year.  The number closed is also sharply down indicating a slowing real estate market in Oklahoma City.

Total closed in November 2008 was 948 down ↓29.6 % from the 1347 closed in November 2007.

The average price was $136,198 down ↓6.9 % from the November 2007 price of $146,329.

The median price was $116,000 down ↓5.7% from the November 2007 price of $123,000.

The average Days On Market for November 2008 was 88 up from 77 in 2007.

 Based on information provided to and compiled by MLSGateway.com, Inc. covering a period 2007 through 2008MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy.

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I have repeatedly made the claim that homes are a good investment and tend to increase in value over time.  Below are the median prices by state from the U.S. Census Bureau.  Enjoy. Read the rest of this entry »