What Are the Most Surprising Real Estate Statistics in Canadian County, Oklahoma?

What Are the Most Surprising Real Estate Statistics in Canadian County, Oklahoma? | Burning Questions Real Estate Series The short answer: 105.6%. That number means absolutely nothing without context, so—as usual—let me overexplain. Here are three statistics that jumped out at me in the Canadian County real estate market: 1. Under $100,000: Buyers are paying ABOVE asking price. Properties below $100,000 are selling at a median of 105.6% of asking price. In other words, the typical sale in this price range is closing for more than the seller originally asked. 2. $250,000–$300,000: Price reductions are everywhere. About 55% of properties in this range are requiring a price reduction to get sold, and the median sale is only 93% of the original asking price. That is a significant discount in one of our more common price ranges. 3. $550,000–$600,000: Inventory is surprisingly high. This price range currently has 13 months of inventory, tying the $1 million-plus market for the highest inventory level in Canadian County. Remember, around seven months of inventory is generally considered a buyer's market. At 13 months, these price ranges are well beyond that threshold, giving buyers considerably more negotiating leverage. The lesson? There isn't just ONE Canadian County real estate market. Your experience can look completely different depending on your price point. Jason Pound | Jerica Pound Realty Group Keller Williams Mulinix jericapoundrealtygroup.com | (405) 317-4556 Greater OKC | Norman | Moore | South OKC