Off the market

Canadian County houses selling like hot cakes

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Janet Story, branch broker McGraw Realtors Yukon

 

By Robert Medley

Managing Editor

The short amount of time houses stay on the market, and the amount of money the sellers are getting this summer for home sales is unprecedented, said Janet Story, branch broker for the McGraw Realtors in Yukon.

She has not seen homes selling so fast in her 35 years in real estate.

The average price of a home selling in Canadian County is $282,000, compared to $221,360 in June 2020.

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And the average number of days a home is on the market in Canadian County, and all of central Oklahoma, is just 18 days. In June 2020 the average number of days on the market was 40.

The listings this week in the Yukon area had offers within hours.

She said a home on Queensboro Place in Canadian Heights built in the 1960s with three bedrooms and a converted garage sold for $162,500 in days. It took one night for an offer on a house listed at $549,900 in Sundance Drive on an acre to get the first offer.

“I’ve just never seen a market like this in my 30 to 35 years. It is a seller’s market,” Story said.

She said she does not see as many people in financial distress selling their homes as she does people who are just taking advantage of a healthy housing economy to make a step up.

Buyers have a harder time these days because they face sellers with multiple offers from buyers. Appraisals are negotiated.

“I think it is a healthy economy right now. It is also a good time to refinance,” Story said.

People can pre-qualify to buy a new home before selling their home to figure out what they can move into after the sale, she said.

The cost of new home construction is expected to drop with more supplies becoming available, but the cost has been high in the past year with supplies being low or unavailable due to the pandemic.

Home sales are so brisk in the Yukon area more people are learning to be realtors, Story said.

There are six people taking the six-month course online currently and new realtors have been hired who completed the courses. Some people are also getting their real estate license as a second job, she said.

Story can be reached at the McGraw Realtors, (405) 354-5243.

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