Home prices in Lyons Park are showing mixed signals, with a typical home value of about $125,000, up 2.25% from last year but down 3.85% from the prior month. List prices are moving the other way, with the median list price at roughly $156,000 and projected to edge up to about $160,025 in March, even as the typical value is expected to dip slightly to $122,500.
Homes are taking much longer to sell, now sitting on the market a median of 71.5 days after a sharp jump both month over month and year over year. Even with that slowdown, Lyons Park is still tagged as a seller’s market, and about 25% of recent sales closed above the asking price. Sellers are also getting a bit less than list on average, with an average sale-to-list ratio near 0.93.
Listing and contract activity helps explain the current balance. There are just 7 homes on the market with 7 new listings and 5 pending sales, and inventory is down 12.5% from last month but flat compared with last year. Lyons Park remains more affordable than Oklahoma City as a whole, where the typical home value is closer to $265,000 and projected to rise to $269,000. With pending sales down 44.44% and new listings down 41.67% from a year ago, both buyers and sellers can benefit from Agent Pronto’s help in finding an agent who understands these shifts.
