Hey everybody, Dillon Robinson with Pam Robinson Real Estate, back with episode number two of How’s the Market. We’re going to take a look at our own little area right here within a 35-mile radius. And we’re also going to have a discussion about what’s going on nationally. The national association of realtors has put out some surveys trying to forecast what they see coming in our future. So, we’ll discuss that. We’ll talk about a couple of case studies of my own listings and things that I’m seeing going on in our area. So, stay tuned. Hopefully we’ll give you some good information so you can decide if it’s the right time for you to buy or sell.

Okay. Everybody we’re back. Like I said earlier, this is episode number two of how’s the market. We’re going to keep putting these out every single month. That way you can watch the trends and kind of see the statistics that we’re putting out there.

We’re never going to sugar coat any of the statistics. We’re not going to tell you tall tales about what we think is happening or hope is happening. I’ll give my opinions, but as far as the data goes, we’re pulling it directly from the Oklahoma City MLS system. Now we’re a part of the Tulsa MLS system as well. But for this specific area, we’re just looking in that 35-mile radius of Seminole. So, this is going to give you a decent idea of what’s happening in my own backyard, but we’ll talk a little bit more about this nationally as well, because the national association of realtors has put out some really great information that’s hopeful.

And we’ll go over those stats in just a minute. So currently listed within a 35-mile radius of Seminole, there are 812 properties currently listed. Now keep in mind, that’s vacant lots, vacant land, commercial buildings, residential homes, multifamily, it’s everything.

If it’s on MLS and it’s within that circle that I drew, that’s the stats that we’re pulling up. And within that same area, there are currently 364 properties under contract, which is phenomenal. That’s a really good indication that we still have some great buyers out there that are still looking for the right property to buy. Now from April 1 to May 26, we pulled up how many properties had sold during that time period, within that same radius, there’s been 267 properties sold, which is still great. Of course, that is behind the volume that was done in 2019 for this area, but that’s to be expected. That’s not just this 35-mile radius. It’s the state, it’s the whole country. So, everybody knows the volumes down. But what we’re looking for is trying to find the trend where that starts going back up towards the volume that we were producing in 2019.

Now the national association of realtors has set out some surveys to different buyers and sellers across the country to try to get a feel for what these groups are thinking. And the largest thing that they found is sellers have a more pessimistic view of the market right now than buyers do. And kind of a case study from one of my own personal listings, I listed 82 acres out towards Henryetta, and it was on the market for less than 48 hours before we had a phenomenal offer that the seller accepted, and we moved on.

Now I’m telling you that because 48 hours on the market, is a quick sell. That means there are a lot of buyers out there that are actively looking for properties. And this wasn’t even the first person that called me about it. So, there are people scouring the internet, they’re calling their realtors, they’re looking for the right properties.

And that’s really what I want to make sure that sellers are keeping in mind. Now, the number of listings across the country, according to the national association of realtors is starting to see that tick up, so slowly but surely, we’re starting to get some more properties on the market across the entire country, across our state, and also within our region here. Now, what they have found is, is sellers were kind of taking a wait and see mentality to find out what the market would do.

So that’s like I said, in the last video, that’s pushed our hot listing season that’s typically in the spring, down the road a little bit. So, what we’re hoping is, is this pickup continues to rise, and then we start seeing a huge inflow of new listings coming on the market for all these buyers out here that are still looking. It’s going to be a long road to recovery, not just for the real estate industry, but for everybody.

But the best news that’s coming from our national association is, at least we’ve started the road trip. It’s going to be a long haul, but we’re all going to get there. One thing I want to recommend, don’t let the national media necessarily discourage you from buying or selling right now, call a lender and talk about rates. If you’ve got a good credit score, there are some phenomenal programs and interest rates that are super low right now.

It’s a great time to get out there and at least test the market. See what’s out there, you know, put yours on the market. It doesn’t cost you anything to list your property and it doesn’t cost you anything to at least give it a shot. So that’s what we’re asking. We’re asking you to consider putting your property on the market, because there are a lot of buyers out there waiting for the perfect property and that property could be yours.

Hopefully, this has been an informative video for you. Again, we’re going to put out another one of these videos next month. We’ll have the same type of stats featured. We’ll get some good information from our national association of realtors. We can also go to the Oklahoma association of realtors, which has a fantastic wealth of information for us as well. Head over to Pam Robinson Real Estate to find your next property. Give us a call at 405-382-7653, go to all of our social media, give us a like, share, subscription. And as always, we’ll be talking to you soon.