The State of the Tulsa Real Estate Market: December Inventory Analysis for the Tulsa MLS — Report dated January 11, 2013.
Tulsa Real Estate Market Inventory Analysis
Tulsa Real Estate Market Inventory Analysis for the Tulsa MLS during December 2012 indicates the market is getting stronger. The buyers are out in force, but sellers are still reluctant to put their homes on the market. This has caused the inventory to fall and the prices are beginning to creep up.
The following statistics are for the Area delimited by the following Northeast Oklahoma counties:
- Creek County
- Okmulgee County
- Osage County
- Pawnee County
- Rogers County
- Tulsa County
- Wagoner County
If you want to see specific market share information for your midtown Tulsa neighborhood or subdivision, contact Debbie Solano at 918-712-4473.
Absorption: Last 12 months an average of 984 sales per month
Active Inventory: As of December 31, 2012 = 7,798
Closed Listings: 914
Pending Listings: 803
New Listings: 1,442
Average List Price: $175,327
Average Sale Price: $168,304
Average Percent of List Price to Selling Price: 96.42%
Average Days on Market to Sale: 63.37 days
End of Month Inventory: 7,798
Months Supply of Inventory: 7.92 months
Analysis Wrap Up
Months Supply of Inventory (MSI) Decreases
The total housing inventory at the end of December 2012
decreased 14.26% to 7,798 existing homes available for sale.
Over the last 12 months this area has had an average of 984
closed sales per month. This represents an unsold inventory
index of 7.92 MSI for this period.
Average Sale Prices Going Up
According to the preliminary trends, this market area has
experienced some upward momentum with the increase of
Average Price this month. Prices went up 4.91% in December
2012 to $168,304 versus the previous year at $160,431.
Average Days on Market Shortens
The average number of 63.37 days that homes spent on the
market before selling decreased by 1.79 days or 2.75% in
December 2012 compared to last year’s same month at 65.17
Sales Success for December 2012 is Positive
Overall, with Average Prices going up and Days on Market
decreasing, the Listed versus Closed Ratio finished strong this
There were 1,442 New Listings in December 2012, down
12.13% from last year at 1,641. Furthermore, there were 914
Closed Listings this month versus last year at 802, a 13.97%
Closed versus Listed trends yielded a 63.4% ratio, up from last
year’s December 2012 at 48.9%, a 29.69% upswing. This will
certainly create pressure on a decreasing Month’s Supply of
Inventory (MSI) in the following months to come.
Here is the full report:
The State of the Tulsa Real Estate Market: December 2012 Inventory Analysis for the Tulsa MLS
Get Shortlink: http://midtowntulsarealestate.com/?p=7491
Copyright© 2013 by Debbie Solano — ALL RIGHTS RESERVED — Midtown Tulsa Real Estate — The State of the Tulsa Real Estate Market: December Inventory Analysis for the Tulsa MLS