Blog

Tulsa Real Estate Market Statistics March 2017 03 2017 MSA Average

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

Tulsa Real Estate Market Statistics: March 2017 Inventory Analysis for the Tulsa MLS — Report dated April 11, 2017.

Tulsa Real Estate Market Inventory Analysis

March 2017 MSA Average / March 2017 Tulsa Housing Stats

Overall, with Average Prices going up and Days on Market decreasing, the Listed versus Closed Ratio finished weak this month. There were 2,488 New Listings in March 2017, up 9.56% from last year at 2,271. Furthermore, there were 1,324 Closed Listings this month versus last year at 1,216, a 8.88% increase. Closed versus Listed trends yielded a 53.2% ratio, down from last year’s March 2016 at 53.5%, a 0.61% 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 1,205 sales per month

Active Inventory: As of March 31, 2017 = 5,384

Closed Listings: 1,324 (up 8.88% above a year ago)

Pending Listings: 1,591 (up 14.05% above a year ago)

New Listings: 2,488 (up 9.56% above a year ago)

Average List Price: $185,345 (up 11.02% above a year ago)

Average Sale Price: $179,847 (up 11.05% above a year ago)

Average Percent of List Price to Selling Price: 97.21% (up 0.16% above a year ago)

Average Days on Market to Sale: 48.90 days (down 10.64% below a year ago)

End of Month Inventory: 5,384 (up 7.47% above a year ago)

Months Supply of Inventory: 4.47 months (up 2.02% above a year ago)

Analysis Wrap Up

Months Supply of Inventory (MSI) Increases

The total housing inventory at the end of March 2017 rose 7.47% to 5,384 existing homes available for sale. Over the last 12 months this area has had an average of 1,205 closed sales per month. This represents an unsold inventory index of 4.47 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 11.05% in March 2017 to $179,847 versus the previous year at $161,955.

Average Days on Market Shortens

The average number of 48.90 days that homes spent on the market before selling decreased by 5.82 days or 10.64% in March 2017 compared to last year’s same month at 54.72 DOM.

Sales Success for March 2017 is Positive

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

There were 2,488 New Listings in March 2017, up 9.56% from last year at 2,271. Furthermore, there were 1,324 Closed Listings this month versus last year at 1,216, a 8.88% increase.

Closed versus Listed trends yielded a 53.2% ratio, down from last year’s March 2017 at 53.5%, a 0.61% 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:

March2017MSAAverage-1

March 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.

Get Shortlink: http://www.tulsarealestateweb.com/?p=4058
————————————————————–

Copyright© 2017 by Debbie Solano — ALL RIGHTS RESERVED — TulsaRealEstateWeb.com — Tulsa Real Estate Market Statistics: March 2017 Inventory Analysis for the Tulsa MLS