Southern Oklahoma Real Estate and Community News

Nov. 3, 2016

4446 Hedges - Facebook Live Video

Here is a Live Video I did of the home at 4446 Hedges Rd.

  

Oct. 15, 2016

Sept Market Stats for Southern Ok MLS

If I had to use one word to describe this month's numbers it would be "Steady". I don't see any wild fluctuations, foreboding movements, or a great reason for excitement. The market performed largely as expected after a big August.

Because we are in a small market, sometimes our Averages need to be averaged out over several months to get a more accurate picture. A 6-month moving average of sales prices puts us very slightly above last year at this time and Days on Market is slightly less. The year over year changes in the monthly and YTD columns can be alarming taken by themselves, but when framed in a larger perspective they are much less exciting.  

Click here to read the Southern, OK Housing Average September 2016.

 

 

Sept. 26, 2016

So Oklahoma MLS Stats for August 2016

I noticed something interesting when reviewing the numbers this month. In most years, July has the highest number of closed transactions. This year August has the highest number of closings and July was pretty soft. I found that curious and brought it up at lunch this past week. I wondered what was different this year than the last several and the only answer I have is TRID. 

If you don't work in the real estate industry you might not know what it is and no one would expect you to. Even some of us that do work in real estate aren't entirely sure, but basically it is TILA-RESPA Integrated Disclosure. It came about via the Dodd-Frank Wall Street Reform and Consumer Protection Act  that modified and provided guidance for the required disclosures of the Truth In Lending Act and the Real Estate Settlement Procedures Act. The result was, hopefully, a better informed consumer, but also a longer closing process in most cases. So, many transactions that would typically have closed in July were pushed back to August.

At least that's my guess.

Click here to read the Southern, OK Housing Average August 2016.

 

 

Posted in Market Reports
Sept. 26, 2016

2212 Wimbledon Ct, Ardmore, OK

Check out the 3D tour of this beautiful home and get in touch with us to schedule your appointment. See the property details here: http://www.dobsonrealtygroup.com/property/31288/

You can aslo view the virtual tour at this link: https://vimeo.com/184373277/9a2a941162.

Posted in Featured
Aug. 23, 2016

July '16 MLS Stats for So Oklahoma

Click here to download Southern_OK_Housing_Average_July_2016.pdf

 

The real estate market has always been cyclical in nature. Recently some industry heavyweights have been sounding warnings that we are nearing the end of, or have possibly already passed, the peak of what is typically a 7 year cycle. For those of us in Southern Oklahoma, we know that things move a bit slower here and what happens on the coasts takes a bit longer to be felt here in the heartland. Because of that, we are insulated to some degree from market manias with smaller upswings and shallower declines. 

Still, it's important to keep an eye on the numbers and what their movements mean for our customers and industry. With that in mind, the big uptick in inventory in June really caught my attention. It's not alarming by itself, but we also saw an uptick in Days on Market and a decrease in the absorption rate*. This combined to create an upward movement of the Months Supply* from 6.28 to 7.73. In most markets, 6 months supply is  a stable market. Less than that is a seller's market and higher is a buyer's market.

Fortunately for sellers, the July report tends to contradict the June numbers some. Months Supply dropped back a little as did the inventory, but the absorption rate continued lower. The drop in the absorption rate is consistent with our seasonal trends and, again, not alarming by itself. So, it's a bit of a mixed bag.

I'll be keeping a close eye on this in the coming months. 

*Absorption rate is average number of homes sold per month. Months Supply is inventory/absorption rate or the number of months it would take to sell all the current listings at the current rate of sales if we didn't take any new listings.

July 1, 2016

So Oklahoma MLS Stats for June 2016

Click here to download Southern_OK_Housing_Average_June_2016.pdf

Posted in Market Reports
June 1, 2016

So Oklahoma MLS Stats for May 2016

Southern_OK_Housing_Average_May_2016.pdf

 

Posted in Market Reports
May 1, 2016

So Oklahoma MLS Stats for Apr 2016

Click here to download Southern_OK_Housing_Average_April_2016.pdf !

 

Posted in Market Reports
April 1, 2016

March 2016 MLS Stats for So Oklahoma

Click to download Mar 2016 MLS Stats

Posted in Market Reports
March 21, 2016

108 Lucille Dr, Ardmore, OK

Take a look at the 3D walk through of this 3 bedroom, move in ready home.

Call Kori (580) 222-7811 to get more information or schedule a showing.

Posted in Featured, Properties