The Norman, OK Housing Market – October 3, 2017

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Here are some trends to consider regarding residential property in Norman, OK.

Homes valued in the $200,000 to $250,000 range:

  • There 84 homes listed for sale
  • Based on the sold activity for the past six months, a home in this range will sell between 3 and 3 1/2 months.  If your home is valued in this range, this is an optimum time to list your home and take advantage of the market.  If you aren’t sure of your home’s value, you can click here to get a quick market value report on your home and compare it to what’s on the market.

Homes valued in the $250,000 to $300,000 range:

  • There are 111 homes listed for sale
  • Based on the sold activity for the past six months, a home in this range will sell in around 5 months

Homes in the $300,000 to $400,000 range:

  • There are 81 homes listed for sale
  • I consider this segment to be on the bubble.  The average inventory ratio indicates home in this range will sell within 6 1/2 months.  As long as you understand that it may take around 6 months to sell your home and you’re okay with that, I’d go ahead and test the market.

Lastly, Townhomes and Condos are good sellers right now:

  • There are 13 Townhomes and 40 Condos listed on the market
  • The ratios indicate a turn rate of 4.2 months making this a good time to consider selling your Townhome or Condo

If you have any questions about this or need more information, please contact me at (405) 537-3395 or by email at tom4yournewhome@gmail.com.

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