The Oklahoma Association of Realtors reported Thursday, November 13th, that the third quarter Multiple Listing Services (MLS) statistics show that Oklahoma’s real estate market is still going strong during these uncertain times. The average cost of a home in Oklahoma has increased by 7.8 percent compared to the third quarter of 2007. In the third quarter of 2008 the average cost of a home sold was $159,729 compared to $148,169 in the third quarter of 2007. Statewide, 13,811 homes were sold in the third quarter of 2008. This is 7.5 percent less than the number of homes sold in the third quarter of 2007 in which 14,932 homes were sold in the state.
In the greater Oklahoma City area, the year over year average increase was 3.5 percent - $158,432 in Q3, 2008 vs $153,142 for Q3 2007. The greater Tulsa area had less than a 1 percent increase - $162,394 in Q3, 2008 vs $161,705 for Q3 2007.
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