Come on springtime! We are definitely ready for longer days, spring rains and 80s for daytime temperatures. It's good for business! Currently our Southwest Oklahoma market has 844 residential homes on the market compared to 862 last year at this time. There have been 1,534 sold and closed residential properties in the past 12 months compared to 1,386 sold and closed the previous year. Homes that sell take an average of 80 days on the market compared to 83 days last year. Our average sold price has increased from $117,518 last year to $118,743 this year. Homes in our Multiple Listing Service (MLS) with Lawton deemed as their address make up 61.7% of market.
MLS Data shows that there have been 88 new construction homes sold and closed in the past 12 months with an average sold price of $251,040. Sixty-seven of these new constructions were outside of Lawton, in communities such as Cache and Elgin.
All signs are for positive growth in the area in the next few years. If you need assistance in your next move, please let Parks Jones Realty take care of you. We are now available to also assist buyers in the Oklahoma City area by having access to their MLS properties.
In the Southwest Oklahoma real estate market, it is routine for buyers to complete a professional home inspection once their offer is accepted on a home. This professional home inspection is a thorough examination of the current condition of a home by a trained and certified home inspector. The inspector prepares and delivers to the client a written report of findings. The client then uses this knowledge gained to make informed decisions about their pending real estate purchase.
When a buyer and seller enter into a real estate contract, it is based upon information that is known at the time and is contingent upon the buyers' acceptance of findings by the home inspector. In our market, the buyer has ten days after signing the contract to complete the home inspection.
Renegotiation typically takes place after the home inspection because new information about the condition of the property has been revealed. This means that the deal you worked so hard to finalize, during weeks of negotiation, was tentative at best.
When buyers obtain a home inspection, they use it for their own benefit. Some sellers hire an inspector of their own when the property is listed for sale. This enables them to present full disclosure of the property's condition to each prospective buyer, before negotiations begin.
By obtaining a presale inspection, sellers accomplish four valuable objectives:
The case for presale home inspections is a strong one. Only a small percentage of sellers have recognized these advantages. At Parks Jones Realty, we see the benefit in home inspections for both buyers and sellers. It is our hope that more sellers will see the benefits of taking control of the disclosure process by completing a home inspection when listing their property for sale.
Install the Visit Lawton Fort Sill mobile app to discover area attractions, restaurants, shopping, things to do and so much more in Southwest Oklahoma. This well designed mobile app was created by the Lawton Fort Sill Convention and Visitors Bureau to promote the wonderful Lawton Fort Sill area, including Cache, Elgin, Medicine Park and the gorgeous Wichita Mountain Wildlife Refuge. Plan your next meal, shopping trip or weekend adventure using the Visit Lawton Fort Sill app.