Is Broken Bow, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Broken Bow was a Seller's Market.
Key Takeaway
Broken Bow is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Broken Bow, OK
How much do homes in Broken Bow, OK cost?
Median Sold Price
$590,000
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Broken Bow have sold for 17.2% less than they did a year ago.
Summary: The median home sold price in Broken Bow was $590,000 in May 2024, down 17.2% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $590K | $490K | -16.9% |
| 2 Bedrooms | $725K | $560K | -22.8% |
| 3 Bedrooms | $610K | $592.7K | -2.8% |
| 4 Bedrooms | $940K | $855K | -9.0% |
| 5+ Bedrooms | $1.2M | $1.1M | -11.5% |
Summary: Broken Bow housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.9%, 2 bedroom homes decreased by 22.8%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes decreased by 11.5%.
Median Sold Price Compared To Nearby Cities
| North McCurtain | $678.1K | $615K | -9.3% |
| Broken Bow | $712.5K | $590K | -17.2% |
Housing Supply in Broken Bow, OK
How many homes are available in Broken Bow, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 298 | 371 | +24.5% |
Summary: The Broken Bow real estate market had 371 homes for sale in May 2024, a 24.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 51 | 69 | +35.3% |
| 2 Bedrooms | 68 | 89 | +30.9% |
| 3 Bedrooms | 96 | 115 | +19.8% |
| 4 Bedrooms | 47 | 54 | +14.9% |
| 5+ Bedrooms | 36 | 44 | +22.2% |
Summary: The Broken Bow housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 35.3%, 2 bedroom homes increased by 30.9%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Broken Bow, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Broken Bow in May 2024, the same as the previous month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Broken Bow, OK
How long does it take to sell a home in Broken Bow, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 70 Days | 90 Days | +29.6% |
Summary: Homes in Broken Bow had an average of 90 days on market in May 2024, up by 29.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Broken Bow has remained consistent over time.
Summary: During May 2024, 8 homes were sold in Broken Bow; 25% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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