Although the OKC & Edmond real estate market stands out as one of the best-performing in the country, we’re not alone in what appears to be a gradual recovery of the real estate industry.
We didn’t experience the bubble burst that many larger markets did and now there are signs that those larger markets may be headed back up, as evidenced by this recent write-up. Inventory levels are dropping dramatically both locally and nationally, but I found this little nugget even more exciting:
Additionally, ZipRealty tracked an increase in the median list price in the 28 markets to $270,440 in June from $270,027 in May. Despite the sequential increase the median list price still decreased 2.72 percent when compared to June 2008.
Yes, we’re experiencing smaller inventories both locally and nationally, but the above quote shows that supply and demand is still alive and well. As inventories are dropping, and even list prices are still dropping, the median sales price is still gaining, which tells us that home-sellers are holding out for more money, creating a smaller gap between list price and sales price.
About Ryan Hukill
