Woodward, OK

There is no doubt that the Woodward, OK metropolitan statistical area (MSA) is a hotbed for real estate activity. The Woodward MSA has seen a steady increase in home sales over the past few years, and this trend looks to continue in the near future. According to data from the National Association of Realtors (NAR), the Woodward MSA had an estimated 1,942 home sales in 2017, which was up from 1,854 in 2016. This trend is being driven by a number of factors, including low interest rates, a strong job market, and population growth.

The Woodward MSA is not immune to the effects of the housing crisis that began in 2007. However, the market here has recovered much quicker than most other areas of the country. This is due in large part to the strong local economy, which has been bolstered by the oil and gas industry. The unemployment rate in Woodward was just 3.4% in 2017, well below the national average of 4.4%. This strong job market has helped to attract new residents to the area, which has put upward pressure on home prices.

The median home price in Woodward was $142,000 in 2017, up from $139,000 in 2016. This represents a healthy 2.1% increase from one year to the next. Looking ahead, it is expected that home prices will continue to rise at a moderate pace as demand for housing remains high. It is also worth noting that there is currently very little inventory on the market relative to buyer demand – another factor that will likely lead to further price appreciation down the road