Tulsa Real Estate Market Statistics: June 2016 Inventory Analysis for the Tulsa MLS — Report dated July 12, 2016.
Tulsa Real Estate Market Inventory Analysis,
Tulsa Real Estate Market Inventory Analysis for the Tulsa MSA during June 2016 indicates the market is beginning to loosen up as inventory expands slightly since last month. Over the past year, our inventory of homes for sale has increased just slightly. Average sales price has decreased and the cumulative days on market has lengthened since last month. Since last year the average sales price has decreased, while the average days on market to sale has also decreased.
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
Absorption: Last 12 months an average of 1,152 sales per month
Active Inventory: As of June 30, 2016 = 5,881
Closed Listings: 1,303 (down 2.83% below a year ago)
Pending Listings: 1,454 (up 7.46% above a year ago)
New Listings: 2,301 (up 6.82% above a year ago)
Average List Price: $186,746 (down 7.52% below a year ago)
Average Sale Price: $182,706 (down 6.56% below a year ago)
Average Percent of List Price to Selling Price: 98.18% (up 0.29% above a year ago)
Average Days on Market to Sale: 39.89 days (down 8.74% above a year ago)
End of Month Inventory: 5,881 (up 4.48% above a year ago)
Months Supply of Inventory: 5.10 months (up 3.09% above a year ago)
Analysis Wrap Up
Months Supply of Inventory (MSI) Increases
The total housing inventory at the end of June 2016 rose 4.48% to 5,881 existing homes available for sale. Over the last 12 months this area has had an average of 1,152 closed sales per month. This represents an unsold inventory index of 5.10 MSI for this period.
Average Sale Prices Falling
According to the preliminary trends, this market area has experienced some downward momentum with the decline of Average Price this month. Prices dipped 6.56% in June 2016 to $182,706 versus the previous year at $195,532.
Average Days on Market Shortens
The average number of 39.89 days that homes spent on the market before selling decreased by 3.82 days or 8.74% in June 2016 compared to last year’s same month at 43.71 DOM.
Sales Success for June 2016 is Positive
Overall, with Average Prices falling and Days on Market decreasing, the Listed versus Closed Ratio finished weak this month.
There were 2,301 New Listings in June 2016, up 6.82% from last year at 2,154. Furthermore, there were 1,303 Closed Listings this month versus last year at 1,341, a 2.83%decrease.
Closed versus Listed trends yielded a 56.6% ratio, down from last year’s June 2015 at 62.3%, a 9.04% 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:
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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