The State of the Tulsa Real Estate Market: May Inventory Analysis for the Tulsa MLS — Report dated June 11, 2012.
Tulsa Real Estate Market Inventory Analysis
Tulsa Real Estate Market Inventory Analysis for the Tulsa MLS during May 2012 indicates the market is really picking 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 913 sales per month
Active Inventory: As of May 31, 2012 = 9,261
Closed Listings: 1,125
Pending Listings: 1,236
New Listings: 2,347
Average List Price: $169,463
Average Sale Price: $163,368
Average Percent of List Price to Selling Price: 97.30%
Median Days on Market to Sale: 58.32 days
Months Suply of Inventory: 10.15 months
End of Month Inventory: 9,161
Months Supply of Inventory: 10.23 months
Analysis Wrap Up
Months Supply of Inventory (MSI) Decreases
The total housing inventory at the end of May 2012 decreased
8.52% to 9,261 existing homes available for sale. Over the last
12 months the Tulsa area has had an average of 913 closed sales
per month. This represents an unsold inventory index of 10.15
MSI for this period.Average Sale Prices Going Up
According to the preliminary trends, the Tulsa real estate market area has
experienced some upward momentum with the increase of
Average Price this month. Prices went up 12.83% in May 2012
to $163,368 versus the previous year at $144,793.Average Days on Market Lengthens
The average number of 58.32 days that Tulsa homes spent on the
market before selling increased by 0.11 days or 0.19% in May
2012 compared to last year’s same month at 58.21 DOM.Sales Success for May 2012 is Positive
Overall, with Average Prices going up and Days on Market
increasing, the Listed versus Closed Ratio finished strong this
month.There were 2,347 New Listings in May 2012, down 3.38% from
last year at 2,429. Furthermore, there were 1,125 Closed
Listings this month versus last year at 924, a 21.75% increase.Closed versus Listed trends yielded a 47.9% ratio, up from last
year’s May 2012 at 38.0%, a 26.01% 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: May 2012 Inventory Analysis for the Tulsa MLS
Get Shortlink: http://midtowntulsarealestate.com/?p=7027
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Copyright© 2012 by Debbie Solano — ALL RIGHTS RESERVED — Midtown Tulsa Real Estate — The State of the Tulsa Real Estate Market: May 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.