Statistics on Oklahoma City sales of residential property has been relatively flat for 2008, and the vlume of sales has dropped. Currently inventory levels are increasing and we are slightly biased towards buyers with an overall 7.5 months absorbtion rate currently. Since the early 1970's, the portion of Oklahoma City that is in the Oklahoma City School district, has been less prone to have sales drop offs at the first of the year since the trend has been to move secondary school age children out of the area in to suburban systems. This year has marked a change in that trend. It has been recently reported that sales have increased because of improvements in inner city schools, and that this market increase has positively affected homes in the OKC School Districts. Recent sales figures show an increase, especially in homes priced below the $150,000 mark. Why has this happened? In 2001, Oklahoma City residents voted a temporary sales tax called MAPS for Kids. This included money to revitalize old buildings, add 80 new school buses, restructure administration, help retain quality teachers, improve security, and build new schools. Because of this and the commitment of the community improvement in test scores have posted 8 to 12% gains in reading, science, and math for this 3 year period. because many neighborhoods in Oklahoma City have homes that can be purchased for less per square foot than outlining areas, the current trend is for bargains to be had in Oklahoma City proper. Recent appreciation trends have been consistent with the 26% overall appreciation in the last five years. With Tinker AFB growing, and new corporations like Dell putting significant operations in the city, this trend should accelerate. You can contact me at joe@joepryor.com to be put on an auto-email notification of homes that fit your criteria.
ZIP Codes: 73107, 73112, 73118, 73120, 73122, 73132, 73142, 73162 Approximate Location Boundaries: NW Oklahoma City
Location Characteristics: Greater Oklahoma City encompasses over 650 Square Miles with 617,000 estimated population, and multiple School Systems. Greater Oklahoma City which takes in feeder cities in seven surrounding counties brings the total to around 1.3 million.
About Joe Pryor:
I am a realtor of 18 years, and also a native Oklahoman. Before real estate, I owned retail stores in Oklahoma City, Norman, and Tulsa for 16 years. I have had the privilege of being involved in over 1000 real estate transactions, was the Number One Individual RE/MAX Realtor in volume in Oklahoma in 2005, and have earned the designations of Certified Residential Specialist, Accredited Buyers Representative, Certified Internet Professional, and Seniors Real Estate Specialist. I am in the process of earning my CCIM commercial real estate designation and will actively sell commercial property next year. I sell new and existing homes, represent builders, work as a buyer's representative, and also have special expertise in the area of investment property. I have two licensed assistants who can be reached by phone at 405-590-2135, or by email at joe@joepryor.com.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
