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.
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
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%
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
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