You’re ready to sell. You may have even started labeling empty cardboard packing boxes “dishes” and “clothes.” But how long will you have to wait before you can call the moving truck?
Several factors can influence the sale timeline of your Oklahoma home and whether you see your home sell fast or sit on the market for weeks.
Your home’s location, the condition of your home, time of year, Oklahoma housing inventory, and listing price, to name a few, can all play a vital role in how long it will take to sell your home as well as how much you ultimately sell the home for.
All of these elements can also vary on a regional and city level, so before you throw your home on the market, you’ll want to work with an experienced, local real estate agent who knows the ins and outs of the Oklahoma real estate market and can help you navigate all of these factors.
You’ve put a great deal of time and energy into making your house a home. Partnering with a knowledgeable real estate agent will help ensure all your efforts pay off by knowing the optimal time to sell your home so you sell fast and at a great price.
How Long Does It Take to Sell a House in Oklahoma?
Oklahoma is currently in the midst of a very hot sellers market giving you the advantage when it comes time to sell your home. According to Redfin, once you decide to put your home on the market, you should, on average, see buyer offers roll in after around 44 days.
However, you still have to account for the time it takes to close on a home — between inspections, negotiations, title transfers, and more. Typically, closing takes around an additional 30 to 40 days before you can officially hand over the keys to the new buyer.
This means, Oklahoma’s average sale timeline is truly around 74 to 84 days in total. The Sooner State isn’t too off from the national trend, as most homes around the nation on average spend approximately 65 to 68 days on the market from list to close.
Oklahoma’s 1% to 2% consistent population growth each year helps the state’s home sale timeline remain at a steady pace as housing prices and demand are able to keep up with the inflation rate making Oklahoma housing more affordable.
Additionally, Oklahoma’s demographic skews younger with the median age in the low 30s and nearly a quarter of the population under the age of 18. This bodes well for the housing market long term, as many younger adults will stick around finding jobs in Oklahoma’s strong economy.
Not only are homes moving off the market more quickly due to Oklahoma’s affordable housing, but also because housing inventory has been decreasing over the past few years seeing a 17.59% decline since last year.
With less expensive homes and limited housing options available, when a home goes on the Oklahoma market, it gets snatched up quick.
What’s the Fastest Month to Sell a House in Oklahoma?
If selling your home fast is your primary objective, focus on the summer months. On average, homes stay on the market for only 31 days during the summer season.
The fastest month to sell your home is June with an average of 30 days on the market. Coming in a close second are the months of July and August both tied with homes staying on the market for an average of 32 days.
On the other hand, the slowest month to sell your home in Oklahoma is February with homes staying on the market for 65 days — over twice as long as the state’s fastest month of June.
Frankly, it’s best to avoid the winter months altogether as December, January, February, and March all rank as the slowest months to sell your home with a combined average of homes staying on the market for 56 days during these cold months.
What’s the Most Profitable Month to Sell a Home in Oklahoma?
Naturally, you’ll want to get the best price for your home. And the month you decide to sell can mean the difference between hundreds or thousands of dollars in your pocket.
In Oklahoma, summer is king as it is the most profitable season to sell your home. The median sale price of homes sold during the summer months is $168,333 compared to the winter season when you’ll find the median sale price is $156,000.
More specifically, for the most profit, you’ll want to aim for the months of July and August to sell your home. Both months show a median sale price of $169,000 with May and June following as the next most profitable months, both with a median sale price of $167,000.
Again, if you can help it, refrain from selling your home during the winter season as the least profitable month to sell your home is January with a median sale price of $153,000 — a $16,000 loss compared to selling in July or August.
5 Things You Can Do to Sell Your Oklahoma Home Faster (and for More)
1. Price Your Home Competitively Using a Comparative Market Analysis
The initial listing price of your home can greatly influence how many buyer offers you see and how long your home stays on the market.
For instance, if you price your home too high above market value, many buyers will pass over your home looking for a more affordable price elsewhere.
And, if you price your home too low under market value, buyers will be more apprehensive to pull the trigger believing that there’s something wrong with the home to be so affordable.
To help you know what to list your home at and price your home competitively to draw in more buyer offers, utilize a comparative market analysis (CMA). A CMA compares your home to the prices of similar homes recently sold in the surrounding area.
By knowing the current market value of homes in your neighborhood, you can price your home at a similar price or just below the market value to attract more offers and start buyer bidding wars, which can ultimately raise asking prices and help your home sell above the initial list price.
2. Highlight the Best Features of Your Location
Oklahoma’s thriving economy, job market, and numerous colleges and schools attract many young adults to the state with the majority looking for homes close to the action.
Buyers will be looking for homes with easy commutes into the metro for job opportunities, school, entertainment, and restaurants and bars. Highlight if your home is near any main highways with easy access into the major cities or near any convenient public transit.
Be sure to also showcase if your home is in a great school district, a low-crime neighborhood, or if you’re close to any parks, grocery stores, coffee shops, or local businesses.
3. Stage Your Home
Staging your home helps potential buyers to imagine themselves living in the home and, according to realtor.com, a staged home sells 88% faster and for 20% more than a non-staged home.
A professional stager will come and help you declutter and rearrange or remove furniture in order to highlight the best aspects of your home and draw in more buyer offers.
A stager can bring in a new perspective as you may not realize how faded your old couch is or see the noticeable chips on your stair bannisters.
4. Add Smart Technology
Smart technology is an easy and relatively inexpensive addition that can increase the value of your home as well as make it more appealing to younger buyers.
Smart technology can range from putting your lights on timers, installing a smart thermostat that can be controlled remotely from your phone, or setting up a smart security system such as a smart lock that reads your fingerprint, or a video doorbell.
5. Focus on that Small-Town Feel
One of Oklahoma’s best features is that the state is able to hold onto that small-town vibe while still having plenty of big-city attractions. Play up the small-town feel by working on your home’s curb appeal.
Big, green front yards can help foster the all-American image — consider adding a small gate or picket fence to your yard as well as a front porch in order to enhance this feel. Certainly, these additions can be appealing to young adults looking to start their own family.
How to Sell Your Oklahoma Home Quickly and for Top Dollar!
Before you put your home on the market, work with a local, experienced Clever Partner Agent who are experts at selling your home fast and at the optimal price.
For instance, just in 2019, Partner Agents were able to get offers in an average of 12 days, for a total sale timeline of 42 to 52 days (based on a 30 to 40 day close).
Compared to Oklahoma’s total sale timeline of 74 to 84 days, you’ll close on your home nearly twice as fast when you work with a Clever Partner Agent.
Get in touch with Clever to learn more and get connected with a top, local Partner Agent who can help sell your Oklahoma home quickly, and for the best price possible at a flat fee of $3,000 — or 1% if the home sells for more than $350,000.