Property values increasing for top Oklahoma County residents
OKLAHOMA CITY – Officials in Oklahoma County say they are seeing home values dramatically increase across the region, especially in those properties worth more than $1 million.
“Oklahoma County property values continue to grow and one of the most astounding figures is a nearly 500 percent growth in homes valued at $1 million or more from 2005 to 2019. In 2005, there were 274 million dollar homes and those numbers have increased over time to a total of 1,640 in 2019, which is an increase of nearly 10 percent from last year,” said Oklahoma County Assessor Larry Stein.
Officials say 1,338 of the homes are worth between $1 million and $1.99 million, while 239 are worth $2 million to $2.99 million.
Only one home is said to be worth between $6 million and $6.99 million.
“Oklahoma County has the most valuable property of any county in the State of Oklahoma assessed for ad valorem purposes. The State of Oklahoma has $35.1 billion worth of property in approximately 68,679 square miles that make up the state. Oklahoma County represents approximately 1 percent of the total land mass, 720 square miles, but has the most valuable real estate, more than $7.32 billion or 21 percent of the entire State of Oklahoma property value,” Stein said.