ENID, Okla. — In the market to buy a home in Enid? You’re not alone, and, unfortunately, you might have some stiff competition.
There are more buyers than homes at the moment, local real estate officials say. At present, there are less than 100 homes in the Enid listed for sale compared to nearly 500 listings two decades ago.
Enid consistently has faced this same dilemma since last summer. Tom Andrew, who has sold real estate for more than 30 years in the Enid area, told the Enid News in May 2021 that the problem is there are people wanting to buy, but they can’t find the house that they want. Additionally, if a new one comes on the market, and they don’t react quickly enough, they’re just out of luck.
This housing shortage has created a bit of a conundrum for Enid Regional Development Alliance (ERDA), too.
Lisa Powell, ERDA’s executive director, said every time local development tries to start, it slows or stops again, thanks in part to the ripple effects of the coronavirus pandemic.
This directly impacts how many people can move into town and enter the job market, which, in turn of course, impacts Enid’s economic development.
‘Enid is developing’
The upside is local developers are purchasing and clearing hundreds of lots for proposed housing sites, and local builders currently are constructing homes to meet demand. There is plenty of activity behind the scenes that you can’t see, Powell said, and several properties that haven’t broken ground yet.
“This would indicate a strong seller’s market,” said Amber Sprague, president of the Northwest Oklahoma Association of Realtors (NWOAR).
Existing neighborhoods — such as the Hearthstone addition near Oakwood Mall, Chisholm Creek in North Enid — are expanding and new neighborhoods are being created near Chisholm High School and south of Purdue.
Sprague, who was born and raised in Enid and has been a licensed realtor since 2006, added there is an uptick in multi-family dwellings going up, including the apartment complexes next to Burgundy Place on Willow and near Walmart Neighborhood Market on Cleveland.
“Enid is developing around the edges to fill in the gaps and expanding outward from there,” she said.
‘Great place to live’
Powell said she sees the potential. With employers expanding business and retail development on the horizon with good paying jobs, Enid is looking to retain quality of life for its residents.
She said ERDA in conjunction with the city of Enid intends to focus on workforce housing, so “all workers will have attainable housing rather than affordable housing.”
This hopefully means home ownership can become more than just a dream for those in Enid with middle-class incomes in addition to those with lower or no income.
Plus older housing and older neighborhoods may be getting refreshed in the future, too, Powell said.
She described “in-field” development — existing homes that need some TLC and existing neighborhoods that need some re-development — as helping Enid save infrastructure costs typically needed in new, sprawling developments.
So in today’s real estate market, can people really buy a home in Enid?
The answer is yes, according to Sprague. With low interest rates, currently hovering at just more than 3%, and savvy research accessibility online, buyers have options. NWOAR — which covers all of Northwest Oklahoma — touts 213 real estate agents standing by to assist people of every walk of life in finding homes that will fit their needs.
Sprague added people who aren’t ready to buy yet or are only in Enid for short-term have a multitude of rental options, too.
“Enid is a great place to live,” she said. “Our city is definitely growing, and big things are coming.”
Article by: Ruth Ann Replogle, Enid News & Eagle 2.5.222