Erhardt Group's Market Report

Norman, OK 73071

Single-Family Homes

Erhardt Group LLC | homes@erhardtgroup.com | 405-309-7477



Norman, OK 73071

Tue Nov 29 2022
This week the median list price for Norman, OK 73071 is $394,465 with the market action index hovering around 40. This is less than last month's market action index of 43. Inventory has held steady at or around 84. Click here to stay informed with the Norman market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Norman, OK 73071

Tue Nov 29 2022
This week the median list price for Norman, OK 73071 is $394,465 with the market action index hovering around 40. This is less than last month's market action index of 43. Inventory has held steady at or around 84. Click here to stay informed with the Norman market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Norman market.
Median List Price $394,465
Median Price of New Listings $255,000
Per Square Foot $181
Average Days on Market 85
Median Days on Market 53
Price Decreased 30%
Price Increased 6%
Relisted 10%
Inventory 84
Median Rent
Market Action 40
Slight Seller's Advantage

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$486,647 2,613 0.25 - 0.5 acre 4 3.5 0 1 0 119
$433,958 2,293 0.25 - 0.5 acre 4 2.5 0 0 3 70
$360,000 2,000 8,000 - 10,000 sqft 3 2.5 0 3 3 56
$209,900 1,503 8,000 - 10,000 sqft 3 2 41 5 4 28