How's the Market?

Oklahoma City continues to hold off the housing decline with an increase in sales over last month and over last year (2009). Volume was up with the median price up several thousands of dollars over last February 2009. Inventory is down and the average days on market decreased significantly from 94 days to 85, less than three months. For the lay person reading the blog a shrinking inventory (less homes for sale) leads to an increase in home values. It is a simple economic law of supply and demand.

What makes OKC so different than the rest of the nation? The low unemployment rate has a significant impact. Jobs do equal homes. MAPS 3 also has assisted in keeping the OKC market strong as OKC continues to draw commercial development due to its progressive governmental leadership and favorable business tax climate. The final key is the strength of OKCMAR REALTORS and the OKCMAR & MLSOK strategic plan.

Recently the OKCMAR annual survey was analyzed for all its write-in comments. One comment in particular is relevant to this post. (Paraphrased) "Since the commercials and the billboards do not market me specifically they have no value. I would rather have lower MLS fees". The MLSOK used its 2008 tax refund to extend the billboards for one more year. The boards promote the value of using an OKCMAR REALTOR in the real estate transaction and encourage the public to search the public-sided MLS site, www.centraloklahomaproperties.com.

Once the public is on the site the listings have a lead generation feature getting the lead back to the preferred associate or the listing associate. The listings are all syndicated through listhub which when the interested party clicks more information an email is sent to the listing associate to contact the customer. However, even more important is the inherent statement that the OKC REALTORS are confident in the market and that the public can be too.

All the tools in the MLS make transactions easier and faster and put information that promotes the stability of the OKC housing market and the value of the REALTOR through the depth of data available. Your MLS isn't just responding to the market rather the strategic initiatives are protecting the OKC market. The MLS leadership has positioned OKC REALTORS and the OKC housing market to withstand the national housing crisis. The Boards of Directors of both corporations, MLSOK & OKCMAR should be applauded for their far-reaching response to the storm they saw on the horizon.