The State of the Tulsa Real Estate Market: July Inventory Analysis for the Tulsa MLS — Report dated August 13, 2012.
Tulsa Real Estate Market Inventory Analysis
Tulsa Real Estate Market Inventory Analysis for the Tulsa MLS during July 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.
Quick Summary
Absorption: Last 12 months an average of 934 sales per month
Active Inventory: As of July 31, 2012 = 9,567
Closed Listings: 1,107
Pending Listings: 1,217
New Listings: 2,498
Average List Price: $175,897
Average Sale Price: $168,507
Average Percent of List Price to Selling Price: 96.72%
Average Days on Market to Sale: 55.40 days
End of Month Inventory: 9,567
Months Supply of Inventory: 10.25 months
Analysis Wrap Up
Months Supply of Inventory (MSI) Decreases
The total housing inventory at the end of July 2012 decreased
9.96% to 9,567 existing homes available for sale. Over the last
12 months this area has had an average of 934 closed sales
per month. This represents an unsold inventory index of 10.25
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 8.98% in July 2012
to $168,507 versus the previous year at $154,616.Average Days on Market Shortens
The average number of 55.40 days that homes spent on the
market before selling decreased by 4.32 days or 7.24% in July
2012 compared to last year’s same month at 59.72 DOM.Sales Success for July 2012 is Positive
Overall, with Average Prices going up and Days on Market
decreasing, the Listed versus Closed Ratio finished strong this
month.There were 2,498 New Listings in July 2012, down 0.56%
from last year at 2,512. Furthermore, there were 1,107 Closed
Listings this month versus last year at 978, a 13.19%
increase.Closed versus Listed trends yielded a 44.3% ratio, up from last
year’s July 2012 at 38.9%, a 13.82% 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: July 2012 Inventory Analysis for the Tulsa MLS
Get Shortlink: http://midtowntulsarealestate.com/?p=7204
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Copyright© 2012 by Debbie Solano — ALL RIGHTS RESERVED — Midtown Tulsa Real Estate — The State of the Tulsa Real Estate Market: July Inventory Analysis for the Tulsa MLS
Debbie Solano
Debbie Solano is a REALTOR® and Broker Associate in the midtown Tulsa office of Coldwell Banker Select, Realtors, selling homes in Tulsa and residential acreage in surrounding communities. She specializes in horse properties, farms, ranches, and country estates, selling vacant land, building lots, existing homes, horse farms, hobby farms, and cattle ranches in Tulsa County and in the counties surrounding Tulsa. Debbie has two Masters degrees (an M.L.S. and an M.Div.) and has taken extensive coursework to acquire designations in the real estate industry. She is a Certified Residential Specialist (CRS) and currently is Chairman of the Membership Committee of the Oklahoma CRS Chapter. She is also an Accredited Buyers' Representative (ABR), a Certified Home Marketing Specialist (CHMS), and a Seniors Real Estate Specialist (SRES). In addition, Debbie is a member of the REALTORS® Land Institute (RLI) and the American Association of Professional Landmen (AAPL). She loves horses and enjoys working with clients who love gardening, animals, and country living. Many clients don't want to see their neighbors, love to see the stars and want to be close to nature, yet have to be close to their jobs in Tulsa. You'll run into Debbie cycling in Tulsa's River Parks or swimming at St. John's Siegfried Health Club. She is also a member of the St. John's Adoration Community and a member of the choir at the Church of St. Mary in Brookside. Debbie is a member of the St. John Auxiliary and volunteers as a Pastoral Care Visitor at St. John Medical Center in Tulsa. Eventually she wants to buy another horse and successfully plant a rose garden.