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Tulsa Real Estate Market Statistics September 2016

Tulsa Real Estate Market Statistics: September 2016 Inventory Analysis for the Tulsa MLS

Tulsa Real Estate Market Statistics September 2016

Tulsa Real Estate Market Statistics: September 2016 Inventory Analysis for the Tulsa MLS — Report dated October 11, 2016.

Tulsa Real Estate Market Inventory Analysis

Tulsa Real Estate Market Statistics September 2016
Tulsa Real Estate Market Statistics September 2016

September 2016 MSA Average / September 2016 Tulsa Housing Stats

Overall, with Average Prices going up and Days on Market decreasing, the Listed versus Closed Ratio finished strong this month. There were 2,052 New Listings in September 2016, up 0.69% from last year at 2,038. Furthermore, there were 1,287 Closed Listings this month versus last year at 1,184, a 8.70% increase. Closed versus Listed trends yielded a 62.7% ratio, up from last year’s September 2016 at 58.1%, a 7.96% upswing.

From data provided by the Greater Tulsa Association (the Tulsa MLS) the following statistics were compiled by RE STATS Inc. for the Area delimited by the following Northeast Oklahoma counties:

  • Creek County
  • Okmulgee County
  • Osage County
  • Pawnee County
  • Rogers County
  • Tulsa County
  • Wagoner County

Quick Summary

Absorption: Last 12 months an average of 1,170 sales per month

Active Inventory: As of September 30, 2016 = 5,799

Closed Listings: 1,287 (up 8.7% above a year ago)

Pending Listings: 1,292 (up 17.78% above a year ago)

New Listings: 2,052 (up 0.69% above a year ago)

Average List Price: $181,779 (up 1.81% above a year ago)

Average Sale Price: $176,732 (up 1.64% above a year ago)

Average Percent of List Price to Selling Price: 96.91% (down 1.29% below a year ago)

Average Days on Market to Sale: 42.49 days (down 4.71% below a year ago)

End of Month Inventory: 5,799 (up 1.63% above a year ago)

Months Supply of Inventory: 4.95 months (down 1.48% below a year ago)

Analysis Wrap Up

Months Supply of Inventory (MSI) Increases

The total housing inventory at the end of September 2016 rose 1.63% to 5,799 existing homes available for sale. Over the last 12 months this area has had an average of 1,170 closed sales per month. This represents an unsold inventory index of 4.95 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 1.64% in September 2016 to $176,732 versus the previous year at $173,882.

Average Days on Market Shortens

The average number of 42.49 days that homes spent on the market before selling decreased by 2.10 days or 4.71% in September 2016 compared to last year’s same month at 44.59 DOM.

Sales Success for September 2016 is Positive

Overall, with Average Prices going up and Days on Market decreasing, the Listed versus Closed Ratio finished strong this month.

There were 2,052 New Listings in September 2016, up 0.69% from last year at 2,038. Furthermore, there were 1,287 Closed Listings this month versus last year at 1,184, an 8.70%increase.

Closed versus Listed trends yielded a 62.7% ratio, up from last year’s September 2015 at 58.1%, a 7.96% upswing. This will certainly create pressure on an increasing Month’s Supply of Inventory (MSI) in the following months to come.

Here is the full report:

September 2016 MSA Average

If you want to see specific market share information for your midtown Tulsa neighborhood or subdivision, contact Debbie Solano at 918-724-8201.

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