Real Estate
In 2012, the number of homes sold in the Lawton area was down by 4.6 percent. The median sale price was $125,000, up 2.3 percent. The average home sold for 96.6 percent of the asking price in 2012, up slightly from 96.3 percent in 2011. The average home sold in 2012 was on the market for 103 days, up from 86 the year prior. As of the end of December 2012, there was an inventory of 933 single family residential units for sale in the Lawton area listed on the Oklahoma Multiple Listing Service (MLS)—approximately an 8.3 month supply. This was up from a 7.8 month supply at the end of December 2011.
According to the Cost of Living Index published by the Council for Community and Economic Research, housing costs in Lawton, which include home prices, mortgage rates, and rental rates, were 10.6 percent below the national average in 2012. This is up considerably from previous years as home prices in the Lawton area have remained relatively stable while prices have declined considerably in other areas of the nation. In 2007, housing costs in Lawton were 24 percent below nationwide averages.
Taken from the 2013 Lawton Fort Sill Economic Review
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