Is Midwest City, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Midwest City has remained a Seller's Market.
Housing Prices in Midwest City, OK
How much do homes in Midwest City, OK cost?
Median Sold Price
$177,046
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Midwest City was $177,046 in May 2024, up 5.8% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $90K | $83.7K | -6.9% |
2 Bedrooms | $112.9K | $110K | -2.7% |
3 Bedrooms | $170K | $184.5K | +8.6% |
4 Bedrooms | $215K | $220K | +2.3% |
5+ Bedrooms | $293.3K | $240K | -18.2% |
Summary: Midwest City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.9%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 18.2%.
Median Sold Price Compared To Nearby Cities
Nicoma Park | $164.5K | $215.9K | +31.3% |
Oklahoma City Southeast | $184.1K | $195.8K | +6.4% |
Spencer | $145K | $153.7K | +6.0% |
Midwest City | $167.4K | $177K | +5.8% |
Choctaw | $296.6K | $309.8K | +4.4% |
Housing Supply in Midwest City, OK
How many homes are available in Midwest City, OK?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
254 | 246 | -3.1% |
Summary: The Midwest City real estate market had 246 homes for sale in May 2024, a 3.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 22 | 20 | -9.1% |
3 Bedrooms | 168 | 162 | -3.6% |
4 Bedrooms | 49 | 51 | +4.1% |
5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The Midwest City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
80 | 72 | -10.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 72 homes were sold or pending in Midwest City in May 2024, down by 10.0% month-over-month. Of the 72 sold homes, 32% were sold under asking, 39% were sold at asking, and 29% were sold over asking.
Days on Market for Midwest City, OK
How long does it take to sell a home in Midwest City, OK?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 24 Days | +104.6% |
Summary: Homes in Midwest City had an average of 24 days on market in May 2024, up by 104.6% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 72 homes were sold in Midwest City; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.