July 14, 2023

Good Morning. Happy Bastille Day! On July 14th, 1789 the French assembly stormed a fortified-prison where they presumed there were a multitude of political prisoners (actually just 7). But the potentially more interesting story is what happened on the first celebration exactly one year later on July 14, 1790 at the first Fête de la Fédération (Festival of the Federation). Where the following took place:

• 260,000 Parisians attended at the Champ de Mars
• Thousands of volunteers and laborers had to help finish the stadium that was too far behind schedule to be ready for the event
• A bridge of boats was built across the Seine for oath takers to walk across
• The event began at 4 AM and it rained for the entire day
• John Paul Johns and Thomas Paine flew the American flag for the first time outside of the United States
• A four-day feast with fine wine
• Fireworks
• People running nude in the street to celebrate freedom (link is the source - not a pic)
• The end of civil unrest in France for all time

So it was basically just like your uncle's run-of-the-mill 4th of July blowout!

THIS WEEK IN THE MARKET

NEW

LISTINGS

615

-25.3%

NEW PENDING CONTRACTS

597

+4.0%

HOMES

CLOSED

339

-37.6%

*All data is from MLSOK and covers Single-Family properties only. Percentages are based on year-over-year changes.

MARKET OUTLOOK: We thought this week might start to capture the origin of the market drop-off in 2022, but it looks like we may have to wait a few more weeks before we start seeing these numbers flip.

Weekly Market Update Blog

What's Next for Interest Rates?

• SELLERS PAYING: We are seeing a higher percentage of homes selling with concessions, but it is still well below the balanced market level in most of our areas. For the most part, this is about a third of houses selling with concessions.

• WHAT IT MEANS FOR YOU!: If you want to know more about how concessions work and how much you could get (or expect to pay) in you area or price range, let us know!

WEEKEND OPEN HOUSE GUIDE

Check Out Which Houses Are Open In Each Area

If you are considering buying a new build in the OKC area, check out one of these builders to see what they have available!

LOCAL NEWS

Tour of OKC Headlines

• No relief in (home) site for shortage of Oklahoma City houses: "Higher mortgage rates had already doused home building, then came the rains, which literally slowed things down, and OKC-area builders hit midyear with construction reduced 25% compared with the first half of last year." Read more here

• OG&E facing second lawsuit alleging contractor to blame for fires at apartment complexes: "Developers of apartments that were destroyed by a five-alarm fire in 2022, the largest blaze in city history, are suing OG&E and its contractor Red Dirt Electric for more than $60 million." Read more here 

LOCAL EVENTS AND HAPPENINGS

Explore OKC

JULY 14:

• Hotter Than July, A Night of Stevie Wonder (Tower Theatre)
• Che Durana, Stand-Up Comedy (Bricktown Comedy Club_
• Summer Nights Country Jam: Garth Brooks (Beer City Music Hall)
• Singo (BarK)
• The Killings Record Release Party (Blue Note)

JULY 15:

• Farmers Market at Scissortail Park
• Wheeler District Farmers Market
• 2023 Summer Train Rides (Oklahoma Railway Museum)
• 6th Annual Frosé All Day B-Day Partay (The Jones Assembly)
• Falling In Reverse - The Popular Monstour (OKC Zoo Amphitheatre)

JULY 16:

• Sunday Jazz Brunch (Tellers)
• Scissortail Park Concerts

See More at Visitokc.com

FEATURED LISTING

12642 Bridlewood Lane Blanchard, OK 73010 

3 Beds | 3 total Baths | 2,442 SF | $390,000 

Welcome to this stunning, like-new property! As you arrive, you are immediately greeted by the elegant curb appeal of the home. The beautifully landscaped front yard and the charming façade create an inviting atmosphere. The interior boasts a thoughtfully designed floor plan spread over 2,242 square feet of living space. Every detail has been carefully considered to provide comfort, functionality, and an aesthetic appeal. The living areas are adorned with high ceilings, large windows, and abundant natural light, creating a bright and airy ambiance throughout. The gourmet kitchen is a chef's delight, featuring top-of-the-line stainless steel appliances, custom cabinetry, granite countertops, and a center island. It seamlessly connects to the adjacent dining area, perfect for entertaining guests. The spacious living room, complete with a cozy fireplace, provides a welcoming space to relax and unwind. The primary suite is a true retreat, offering a large generous bedroom with ample room for a sitting area. The ensuite bathroom showcases luxurious finishes, including a walk-in shower, and dual vanities. The additional well-appointed bedrooms and accompanying bathrooms provide comfort and privacy for family members and guests. The bonus room is a great space for additional living area and features a half bath upstairs. This property backs up to a greenspace and offers a beautiful view. The large fenced in backyard is perfect for pets and privacy. Property like this with a beautiful house as well as a large lot is hard to find! Don't miss out on your chance to call this one home!