![]() The average days on the market for all homes sold in the NE Oklahoma MLS were 150 days.Ĭelebrate the Holidays by joining us in Grove's downtown for the annual Christmas parade. Average sales price YTD in Grove was $225,000. The 234 homes that sold averaged 94% list to sales price in the 74344 zip code. Here is the price breakdown of sold homes::ĩ4 homes sold between $100,000 and $200,000ĥ7 homes sold between $200,000 and $400,000 This compares to 262 homes sold during the same period last year which is around a 11% decline. Year to date (YTD) in 2018 there were 234 closed sales in the Grove zip code. More inventory is still needed to give buyers more choices. As of 10-25-2018 there were 189 residential properties for sale in the 74344 zip code. Interest rates rising may actually help owner occupants buy homes as the higher rates have "Flippers" and Investors leave the market and leave more inventory for home owners. Sales at the end of 2018 have started to soften in some markets (mostly the very hottest markets that have driven many buyers out because of excessive high prices). ![]() Will the 5% to 6% rates projected in 2019 scare them off or will demand still keep real estate markets hot? Millennials now buying have been use to rates as low as 2.5%. Baby Boomers remember rates as high as 17% in the 1980's so these rates are still unbelievable to them. Average Mortgage rates in 2016 were 3.5%, 4% in 2017 and have climbed to 5% in October of 2018.
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