The VIP News - OK 2nd Qtr Sales Stats

In parts of the country, home values have fallen as much as 57%. Yes, the bubble has burst, but Oklahoma boasts a stable economy with some of the lowest unemployment rates in the US which are reflected in a minor loss in home values. The proof is in the numbers.

Currently, the bulk of the Buyers in the Oklahoma City and surrounding areas are the "2nd-time Homebuyers" or those upgrading from the sale of their previous home to those first-time Homebuyers that sought the tax credit incentives that ended in April. Now is the time to sell if you have a home in the value range of $150,000 - $300,000. Those experienced buyers are savvy enough to know the interest rates combined with home prices are the only incentive they need to buy.

Keep up the good work Oklahoma!

Natalie Flaming
Realtor - Broker Associate
The VIP Team
Metro First Realty

www.TheVIPofOKC.com

Oklahoma City Home Sales Didn't Stop With the Tax Credit

Oklahoma City home sales have not stopped by the end of the federal tax credit.

When the home buyer tax credit incentive ended on April 30th, for most parts of the country, that meant home sales ended with it, but not in OKLAHOMA! Although real estate sales slowed some, Realtors and Builders are both reporting that the buyer enthusiasm that was sparked is still lingering through the summer. And the numbers show they're right.

In this second quarter of the year, homes have been spending approximately 2 weeks less time on the market. The average days on market in June was 75 days, compared to 86 days in June 2009.

Another sign of strength is the average sales price. The average sales price this second quarter hovered around $138,000. In June of 2009 it was $135,000. This is about a 2.2% increase.

In construction of new homes, OKLAHOMA has been steadily rebounding from 2009 levels all year. So far, we are at a 25.3% increase for building as compared to 2009.

Now, we are seeing an influx in home sales in the higher brackets, between $200,000 - $300,000. This may be due in part to the Sellers that sold to their homes to first time homebuyers making a move up and buying in those ranges.

Aren't you glad you're in Oklahoma!

(Contributing sources from NEWSOK.com)

Natalie Flaming
Realtor - Broker Associate
The VIP Team
Metro First Realty
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