Sometimes it’s a challenge to make statistics fun or interesting, but either way, they’re useful. Knowledge is power, and knowing the truth about what’s going on in our local market will arm you, the consumer, with the tools you need when making a move on your own real estate goals.
With that in mind, here are the year-end stats for 2007, for the Oklahoma City metro area market. This includes all the surrounding suburbs, such as Edmond, Deer Creek, Yukon, Moore, Norman, etc.
As you can see, we have a lot to be optimistic about here in Central Oklahoma. I’ve highlighted the potential positives in green, and the potential negatives in yellow.
While the overall number of homes did see a decrease in 2007, as compared to 2006, the overall $ volume and the property values, both average and median, saw a respectable increase, in spite of this supposed ‘down market.’ We also saw a nice decrease in interest rates for the year.
With many markets across the country experiencing actual depreciating home values, a 5% increase certainly helps with local consumer confidence.
**Based on information provided to and compiled by MLSGateway.com, Inc. covering a period (1/01/06) through (12/31/07). MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy. Listing information is deemed reliable at the time of this posting, but subject to change without notification, and should be verified through a licensed agent for accuracy.
About Ryan Hukill
I found your blog on MSN Search. Nice writing. I will check back to read more.
Eric Hundin