News

Average sales price in April is down 20 percent from March in Shawnee

April 2018 Shawnee Housing Market Update

Many sellers and builders are in a good position for financial gains as the economy continues to favor putting existing homes on the market and also building new homes for sale. The drop in the average sales price in Shawnee is a bit of an anomaly. April’s average is $101,032, compared to $129,121 in March and $150,976 in April 2017.

April 2018 Shawnee Housing Market Update

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We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign.

This winter and spring exhibited unseasonal weather patterns in much of the country. As the season changes to something more palatable, wages and consumer spending are both up on average, which should translate positively for the housing market.

Being quick with an offer is still the rule of the day as the number of days a home stays on the market drops lower—to 60 days in April. If that wasn’t enough for buyers to mull over with each potential offer, being aware of pending mortgage rate increases is once again top of mind.

As always, Shawnee offers an incredible value for home prices and cost of living compared to rest of the Oklahoma City metro area. I keep a close eye on our local market trends so I can answer your questions and be a resource. For a historical visualization of Shawnee housing market trends, visit the Shawnee Market Stats page of SoldonShawnee.com.

If you’d like to discuss your particular property and how recent sales affect your home’s value, just call/text me at (405) 585-6580 or email Steve@SoldonShawnee.com


The data used in this blog post is from a research tool provided by MLSOK.