Keeping tabs on our market is essential for buyers, sellers, and homeowners alike, which is why today I’d like to share yet another market update for our Oklahoma City Metro area.
To kick things off, let’s talk about inventory. There is currently a lack of available homes in our area’s most active price range (between $125,000 to $275,000). This means competition will be high for buyers searching in these ranges. By that same token, sellers have an incredible opportunity before them to sell quickly and command top dollar. If you’ve been thinking of putting your home on the market, now is the time to make a move.
Interest rates are another hot topic in our current market. Because interest rates are still at historic lows, buyers have a great deal of purchasing power that they can leverage. Our team recently helped a buyer lock in a 3.5% interest rate on a 30-year fixed loan, and buyers who opt to take on a 15-year loan can get an even lower rate.
So what does this all mean for you?
Well, as I said, sellers should act now if they want to take advantage of these prime conditions. And buyers should also act soon. With the right professional help, buyers and sellers alike can enjoy the advantages of today’s market.
If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.