LAWTON, Okla. (TNN) - A report done by GOBankingRates claims Lawton’s Real Estate market has turned ugly, and out of 500 cities analyzed, they ranked Lawton 11th worst.
The report bases it’s rankings on the rate of foreclosures, underwater mortgages and how long homes stay on the market. Both experts said Lawton has struggled in the past, but contrary to this report, those categories have turned positive over the last 12 to 24 months.
Barry Ezerski with the Lawton Board of Realtors said much of the market is based on Ft. Sill’s numbers and those enlisted, and because those numbers have increased, the real estate market in Lawton is reaping those benefits.
“In 2016, over a quarter of our sales were foreclosed properties. Now that has dropped over the last few years, the Army has added more troops to the roles, and we are seeing the benefits. We are down under 10 percent of our sales on foreclosed properties,” said Ezerski.
With the increase in numbers, Ezerski said it’s done more than help lower foreclosure rates.
“Average sales price is up to almost $140,000, and the sales in our market has increased the last two years. The Market is really improving here, and the figures you are seeing might be a few years old,” said Ezerski.
When Joe Chesko from REMAX saw this report, he said he has seen the opposite, and that something special about the Lawton Market is how much is available to basically anyone searching for a home.
“When we talk local housing, we are very affordable. When someone comes to find me a house, there’s no doing I can sell them a home that fits their needs, never taking them over their threshold,” said REMAX agent Joe Chesko.
Another category this was graded on was how long it takes to sell a house, and Chesko said it’s hard to gauge that because of how many factors go into that.
He says typically, getting a house to sell in this market isn’t tough to do.
“It depends really on the location, and the type of house you want to sell. But we don’t have a problem here because really they are all selling. Whether it’s 40,000 or 400,000 thousand dollars, our market is a moving market," said Chesko.
Ezerski said one big change taking place in the Lawton Market is the request for homes like the ones people see on TV, or that their parents own.
In another report done by AdvisorSmith, it said Lawton is one of the best small cities to work as a real estate agent. Chesko said he does agree with that report, and it’s based on the increase at Ft. Sill, and the wide range of income throughout the city.