Oklahoma County home values have tripled since 2000. Here's how much a home cost then, and now

It's no secret that home prices are up ― way up ― but crunching the numbers over time shows how shockingly high they've gone, especially during the past few years with relatively low supplies of houses on the market.

They've more than tripled in value since 2000, from an average of $74,715 to an average of $264,844 in 2023, an increase of 254% Oklahoma County Assessor Larry Stein reported this week.

Oklahoma County home value increase slows

Rising home values have been kicking up inflation. Stein said that in Oklahoma County, home values:

• Increased 6.8% this year, from $247,990 to $264,844.
• Increased 16.55% in 2023, from $212,755 to $247,990.
• Increased 14% in 2022, from $186,861 to $212,755.

Home sale prices are higher than the county assessor's estimated values

The assessor tracks estimated market values, not actual prices paid for homes, which are higher because most are newer than the housing stock as a whole. According to the Oklahoma City Metro Association of Realtors, sale price increases are moderating:

• The average sale price in May, the most recent statistics available, was $326,184, up 1.6% from a year ago, and up 3.9% from April, the Realtors reported.
• The median price, considered a better gauge because it ignores extremes, was $285,000, up 2.5% from a year ago, and up 3.6% from April, according to the Realtors.

“Higher home prices appear to be leveling off for those ‘average priced’ homes," Stein said, but, "the combination of a reduced supply of homes for sale under $200,000 and higher interest rates are making it more difficult for those first-time home buyers."

Changes in Oklahoma County assessed home values 2000-2024

Here's how home values in Oklahoma County have changed since 2000.

Year: Median home value; average home value

2000 : $59,900; $74,715

2001 : $63,100; $80,147

2002 : $64,021; $82,825

2003 : $76,666; $97,695

2004 : $84,149; $106,597

2005 : $88,574; $113,335

2006 : $94,687; $121,910

2007 : $101,195; $130,660

2008 : $104,368; $135,357

2009 : $102,718; $133,600

2010 : $106,639; $138,041

2011 : $107,390; $138,819

2012 : $104,111; $126,490

2013 : $106,418; $139,401

2014 : $108,085; $143,605

2015 : $111,734; $149,523

2016 : $117,500; $157,301

2017 : $123,000; $163,234

2018 : $124,000; $162,269

2019 : $133,000; $171,671

2021 : $148,000; $186,861

2022 : $169,500; $212,755

2023 : $196,500; $247,990

2024 : $210,500; $264,844

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Senior Business Writer Richard Mize has covered housing, construction, commercial real estate and related topics for the newspaper and Oklahoman.com since 1999. Contact him at rmize@oklahoman.com. Sign up for his weekly newsletter, Real Estate with Richard Mize . You can support Richard's work, and that of his colleagues, by purchasing a digital subscription to The Oklahoman. Right now, you can get 6 months of subscriber-only access for $1 .

This article originally appeared on Oklahoman: Oklahoma County home values have tripled since 2000. Here's how much a home cost then, and now