Ardmore, Okla. (April 20, 2023) – The Southern Oklahoma Board of REALTORS® reported on residential sales activity for Love, Carter and Murray counties for the month of March.
The average sales price for March 2023 was $195,039, which was a 3 percent decrease from February 2023.
“Inventory is still low, but we are seeing a month over month increase in the number of new listings this year,” said Todd Yeager, SOBR 2023 President.
The association also noted that the average days on market has increased by 28 percent since March 2022. The number of closed listings in March 2023 was 64 units.
"Home sales are trying to recover and are highly sensitive to changes in mortgage rates," said National Association of REALTORS® Chief Economist Lawrence Yun. "Yet, at the same time, multiple offers on starter homes are quite common, implying more supply is needed to fully satisfy demand. It's a unique housing market."
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.39 percent as of April 20. That's up from 6.27 percent from the previous week.
The data provided is for March 2023 for Southern Oklahoma is based on information from MLS Technology, Inc. Data is deemed reliable, but not guaranteed.
About Southern Oklahoma Board of REALTORS® First chartered in 1946, the Southern Oklahoma Board of REALTORS® is a professional trade organization for more than 200 REALTORS® and affiliate members serving the counties of Love, Carter, and Murray. SOBR strives to be inclusive and to create a unified professional community for its members.