Metropolitan Statistical Area (MSA):
Guymon, OK is a Metropolitan Statistical Area (MSA) comprising counties including Texas County.
The Guymon, OK metropolitan statistical area (MSA) is located in the Oklahoma Panhandle and is home to just over 30,000 people. The MSA includes all of Texas County and parts of Beaver, Cimarron, and Harper counties. The economy of the Guymon MSA is largely based on agriculture and livestock production, but there is also a significant oil and gas industry presence.
In recent years, the Guymon housing market has been relatively stable. However, there are some trends that are worth noting. First, the average home price in the Guymon MSA has been slowly creeping up. In 2016, the average home price was $106,000. In 2017, it rose to $110,000. And as of 2018 Q3, the average home price was $115,000. This trend is likely due to a combination of factors including population growth (more people moving into the area), low interest rates (making buying a home more affordable), and limited inventory (not enough homes for sale to meet buyer demand).
Another trend that is worth noting is that foreclosures have been on the decline in recent years. In 2016 there were 36 foreclosures in the Guymon MSA. That number fell to 27 in 2017 and as of 2018 Q3 there have only been 18 foreclosures. This trend is likely due to improved economic conditions in the area (more people are employed and can afford their mortgage payments) as well as stricter lending standards (it's harder to get a loan if you don't have good credit).
Overall, the Guymon housing market appears to be healthy and growing slowly but steadily. Home prices are rising due to population growth and limited inventory while foreclosures are falling due to improved economic conditions and stricter lending standards. If you're thinking about buying a home in the Guymon MSA, now may be a good time to do so before prices rise any further!