What you need to know about the fast and furious Oklahoma housing market

With pandemic-induced interest rates near an all-time low, the Oklahoma housing market is red hot. Here’s what we know from the June market report from the Oklahoma Association of REALTORS®:

• End-of-Month Active Listing Count has increased for only the second time in the last two years — up from 6,880 units in May to 6,950 units in June.

• Months of Inventory has reached a new record low of 1.34 — down 56% from June 2020.

• Average Sales Prices continue to rise — up 21% in the past two years to $251,031.

Overall, these conditions mean a highly competitive housing market for prospective buyers.

– Andrew Aston, Jones PR