Enid recently received some good news, thanks to financial analysis firm SmartAsset.
A study by SmartAsset shows Enid is in the top 10 of “easiest places in Oklahoma to sell a home.”
Local real estate agents say housing sales have been good in Enid. One of the reasons is record-low interest rates, which make it cheaper and easier for buyers to borrow money for home purchases.
“It’s a good time to be selling your house in Enid right now, and interest rates are making it a good time to buy. It’s good all around,” said Tom Andrew, broker and owner at Andrew Real Estate.
Since Jan. 1, homes in Garfield County have been selling after an average of 65 days on the market, compared to 82 days for the same period last year, according to figures provided by Andrew.
“Normally, 90 to 100 days on the market is pretty standard,” Andrew said, “so, to be at 65 is pretty remarkable.”
The one downside to all this is, according to Jeff Shaffer, sales manager at Coldwell Banker Realty III, there aren’t “enough properties to sell.”
Sellers are receiving multiple offers on homes more often than usual.
In addition to low interest rates, Shaffer said some people want to upgrade after spending weeks quarantined with the kids, or working from home.
Greg Jensen, broker at Jensen Hurley Realtors, said homes are “definitely moving right now,” as Realtors catch up on a backlog of sales from when COVID-19 had things shut down in April to June.
Jensen said the current environment is unique in that it’s neither a buyer’s market nor a seller’s market — it’s good for both.
“Buyers aren’t having to pay more than houses are worth, and sellers are able to get within 95% to 98% of their asking price,” Jensen said.
That effect spans the market, he said, from homes selling for less than $40,000 up to homes in excess of $300,000.
It’s a good market and good news for Enid.