"Oklahoma City's active listings hit 1,756 homes in February, up 18.1% year over year, more than double the national growth rate of 7.9%. New listings also jumped 16.8% compared to just 2.4% nationally, meaning supply kept flowing in while demand didn't keep pace."
"The headline number looks calm: Oklahoma City's median list price held at $269,450 in February, essentially unchanged from a year ago. But dig one layer deeper and the pressure shows. 20.9% of listings carried a price reduction - roughly one in five homes - compared to just 15.5% nationally."
"The median Oklahoma City home spent 59 days on the market in February - a 17.6% jump from the same time last year, and one of the steepest slowdowns in the country. That's enough time to negotiate, request concessions, and do your homework without the panic of a hot market."
Oklahoma City is experiencing a shift in its real estate market, favoring buyers due to increased inventory and longer home sale durations. Active listings rose to 1,756 homes in February, marking an 18.1% year-over-year increase. Although the median list price remained stable at $269,450, 20.9% of listings saw price reductions. Homes spent an average of 59 days on the market, providing buyers with more negotiating power and options, while sellers face pressure to price competitively.
Read at SFGATE
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