Erhardt Group's Market Report

Norman, OK 73072

Single-Family Homes

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



Norman, OK 73072

Tue Nov 29 2022
This week the median list price for Norman, OK 73072 is $419,900 with the market action index hovering around 40. This is less than last month's market action index of 43. Inventory has decreased to 75. 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 73072

Tue Nov 29 2022
This week the median list price for Norman, OK 73072 is $419,900 with the market action index hovering around 40. This is less than last month's market action index of 43. Inventory has decreased to 75. 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 $419,900
Median Price of New Listings $345,870
Per Square Foot $163
Average Days on Market 80
Median Days on Market 63
Price Decreased 52%
Price Increased 3%
Relisted 12%
Inventory 75
Median Rent
Market Action 40
Slight Seller's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move 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
$750,000 4,126 0.25 - 0.5 acre 4 3.5 19 3 3 80
$459,900 2,882 0.25 - 0.5 acre 4 3 24 2 1 77
$354,990 2,275 0.25 - 0.5 acre 3 2.5 26 2 4 63
$265,000 1,724 8,000 - 10,000 sqft 3 2 29 5 1 49