Cost of Living: As you likely already know, Oklahoma City has one of the lowest cost of living ratings in the nation. The bulk of homes range from $36,000 to $359,000 according to the Oklahoma City Chamber of Commerce, and townhouses and condominiums go from $39,000 to $120,000, depending on the area of the city.
You can check About OKC's Neighborhoods Category for an ever-growing list of neighborhood profiles. Each profile will give you approximate home costs for that particular area of the city.
Real Estate Statistics: The most recent data comes from the Oklahoma Home Builders Association and the Oklahoma City Metropolitan Association of Realtors.
- Home Sales: 2008 existing home sales in the Oklahoma City metro area finished down from 2007, continuing a recent trend. The average home price of $151,700 in 2008 continued an increase. 2009 is seeing an increase through April in home sales, though, thanks to new buyer credits and low mortgage rates. Homes are typically on the market for 70-90 days.
- Housing Permits: New home construction permits were down significantly from 2007 through October of 2008. Between OKC, Midwest City, Edmond, Moore and Norman, less than 3500 building permits were issued in 2008, continuing a recent slide in the market. In addition, permits issued through October of 2008 number about 15% less than at October 2007.
Mortgages and Mortgage Rates: The Oklahoma City real estate hunt often depends on the availability and affordability of financing for metro residents. eview some important mortgage information and get the latest rates before starting your search.
Apartment Renting: If you're looking to rent an apartment, I have an extensive how-to that will walk you through the process and give some very important tips on where to look, what to consider, and how to get the best deal.