Erhardt Group's Market Report

Norman, OK 73072

Single-Family Homes

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



Norman, OK 73072

Tue Jul 05 2022
This week the median list price for Norman, OK 73072 is $402,500 with the market action index hovering around 54. This is less than last month's market action index of 62. Inventory has increased to 64. 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.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Norman, OK 73072

Tue Jul 05 2022
This week the median list price for Norman, OK 73072 is $402,500 with the market action index hovering around 54. This is less than last month's market action index of 62. Inventory has increased to 64. 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.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Real-Time Market Profile

Never miss important changes in the Norman market.
Median List Price $402,500
Median Price of New Listings $349,900
Per Square Foot $163
Average Days on Market 46
Median Days on Market 28
Price Decreased 33%
Price Increased 3%
Relisted 6%
Inventory 64
Median Rent
Market Action 54
Strong Seller's Market

Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.

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
$894,999 4,516 0.25 - 0.5 acre 4 4.5 16 1 0 49
$505,775 3,207 0.25 - 0.5 acre 4 3.3 18 1 2 17
$351,109 2,223 0.25 - 0.5 acre 3 2.5 24 4 5 21
$278,250 1,695 6,500 - 8,000 sqft 3 2 22 3 4 24