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Tulsa Real Estate Market Statistics July 2017

Tulsa Real Estate Market Statistics: July 2017 Inventory Analysis for the Tulsa MLS

Tulsa Real Estate Market Statistics: July 2017 Inventory Analysis for the Tulsa MLS — Report dated August 14, 2017.

Tulsa Real Estate Market Inventory Analysis

July 2017 MSA Average / July 2017 Tulsa Housing Stats

Overall, with Average Prices going up and Days on Market increasing, the Listed versus Closed Ratio finished weak this month. There were 2,051 New Listings in July 2017, down 0.49% from last year at 2,061. Furthermore, there were 1,127 Closed Listings this month versus last year at 1,351, a -16.58% decrease. Closed versus Listed trends yielded a 54.9% ratio, down from last year’s July 2016 at 65.6%, a 16.17% downswing.

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 1,209 sales per month

Active Inventory: As of July 30, 2017 = 6,051

Closed Listings: 1,127 (down 16.58% below a year ago)

Pending Listings: 1,284 (down 0.62% below a year ago)

New Listings: 2,051 (down 0.49% below a year ago)

Average List Price: $200,577 (up 4.94% above a year ago)

Average Sale Price: $195,732 (up 4.99% above a year ago)

Average Percent of List Price to Selling Price: 97.37% (down 0.19% below a year ago)

Average Days on Market to Sale: 39.84 days (up 4.48% above a year ago)

End of Month Inventory: 6,051 (up 14.00% above a year ago)

Months Supply of Inventory: 5.00 months (up 10.06% above a year ago)

Analysis Wrap Up

Months Supply of Inventory (MSI)Increases

The total housing inventory at the end of July 2017 rose 14.00% to 6,051 existing homes available for sale. Over the last 12 months this area has had an average of 1,209 closed sales per month. This represents an unsold inventory index of 5.00 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 4.99% in July 2017 to $195,732 versus the previous year at $186,437.

Average Days on Market Lengthens

The average number of 39.84 days that homes spent on the market before selling increased by 1.71 days or 4.48% in July 2017 compared to last year’s same month at 38.13 DOM.

Sales Success for June 2017 is Positive

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

There were 2,051 New Listings in July 2017, down 0.49% from last year at 2,061. Furthermore, there were 1,127 Closed Listings this month versus last year at 1,351, a 16.58% decrease.

Closed versus Listed trends yielded a 54.9% ratio, down from previous year’s July 2016 at 65.6%, a 16.17% downswing. 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:

July2017MSAAverage

July 2017 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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