• Tue. Oct 3rd, 2023

    Housing Prices in Lawton, Oklahoma Continue to Fluctuate

    ByNuala Hafner

    Sep 19, 2023
    Housing Prices in Lawton, Oklahoma Continue to Fluctuate

    According to Park Jones Realtors, housing prices in Lawton, Oklahoma have been showing some fluctuations. The average asking price for homes currently listed for sale is over $235,000, which is a decrease of $4,000 compared to the previous week. These homes have been on the market for an average of 71 days.

    Although the current numbers are an improvement from the previous week, they are still relatively high compared to the yearly average. In the last 12 months, the average sold price for homes in Lawton was just under $180,000, while the average list price was just above $182,000. This indicates that the current asking prices are still above the average sold prices.

    One factor that may be affecting the housing market is the recent rise in interest rates. Borrowers have been spooked by this increase, leading to a decrease in mortgage applications. In fact, the Mortgage Bankers Association reported that mortgage applications have fallen to their lowest level since 1996.

    It is important to note that fluctuating housing prices can be influenced by various factors, such as market conditions, supply and demand, and economic factors. Potential homebuyers and sellers should carefully consider these factors when making decisions in the real estate market.

    Overall, the current housing prices in Lawton, Oklahoma suggest that there may be opportunities for both buyers and sellers. However, it is crucial to stay informed about market conditions and seek professional advice before making any significant real estate transactions.

    – Park Jones Realtors
    – Bank Rate
    – Mortgage Bankers Association