As 2024 concludes, the Oklahoma housing market exhibits notable trends that offer insights into the upcoming year. In November 2024, the median home price in Oklahoma reached $245,400, marking a 6.4% increase from the previous year. Additionally, the number of homes sold rose by 2.1%, with 3,387 transactions completed during the month. Homes typically went under contract within 43 days, indicating sustained buyer interest.
Looking ahead to 2025, experts anticipate a more favorable environment for buyers. Financial advisors in Oklahoma predict increased housing inventory and potentially lower interest rates, which could ease the home-buying process.
Nationally, the housing market is expected to experience slower price increases and more options for buyers, with forecasts suggesting a 7% to 12% rise in existing home sales volume.
In Oklahoma City, home values have risen by 2.0% over the past year, with major real estate platforms forecasting continued growth in 2025. Realtor.com projects a 6.6% increase, Redfin anticipates a 4% rise, and Zillow estimates a 0.6% uptick in home prices.
These projections suggest that while the Oklahoma housing market will remain robust, the pace of price appreciation may moderate, providing more opportunities for prospective buyers. Factors such as economic conditions, population growth, and interest rates will continue to influence the market's trajectory in 2025.
We would like to help you as you are navigating this market when it’s time for you to buy or sell. Please visit our website at www.fifthpointteam.com today!
Related Posts
