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2016-11-18_17-03-45-90

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

Tulsa Real Estate Market Statistics: October 2016 Inventory Analysis for the Tulsa MLS — Report dated November 15, 2016.

Tulsa Real Estate Market Inventory Analysis

2016-11-18_17-03-45

October 2016 MSA Average / October 2016 Tulsa Housing Stats

Overall, with Average Prices falling and Days on Market decreasing, the Listed versus Closed Ratio finished strong this month. There were 1,859 New Listings in October 2016, down 7.79% from last year at 2,016. Furthermore, there were 1,170 Closed Listings this month versus last year at 1,188, a -1.52% decrease. Closed versus Listed trends yielded a 62.9% ratio, up from previous year’s, October 2015, at 58.9% , a 6.80% 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 1,171 sales per month

Active Inventory: As of October 31, 2016 = 5,677

Closed Listings: 1,170 (down 1.52% below a year ago)

Pending Listings: 1,146 (up 2.87% above a year ago)

New Listings: 1,859 (down 7.79% below a year ago)

Average List Price: $175,873 (down 5.16% below a year ago)

Average Sale Price: $171,300 (down 4.96% below a year ago)

Average Percent of List Price to Selling Price: 97.30% (down 0.02% below a year ago)

Average Days on Market to Sale: 44.23 days (down 8.53% below a year ago)

End of Month Inventory: 5,677 (up 1.03% above a year ago)

Months Supply of Inventory: 4.85 months (down 1.61% below a year ago)

Analysis Wrap Up

Months Supply of Inventory (MSI) Increases

The total housing inventory at the end of October 2016 rose 1.03% to 5,677 existing homes available for sale. Over the last 12 months this area has had an average of 1,171 closed sales per month. This represents an unsold inventory index of 4.85 MSI for this period.

Average Sale Price Falling

According to the preliminary trends, this market area has experienced some downward momentum with the decline of Average Price this month. Prices dipped 4.96% in October 2016 to $171,300 versus the previous year at $180,235.

Average Days on Market Shortens

The average number of 44.23 days that homes spent on the market before selling decreased by 4.12 days or 8.53% in October 2016 compared to last year’s same month at 48.35 DOM.

Sales Success for October 2016 is Positive

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

There were 1,859 New Listings in October 2016, down 7.79% from last year at 2,016. Furthermore, there were 1,170 Closed Listings this month versus last year at 1,188, a -1.52%decrease.

Closed versus Listed trends yielded a 62.9% ratio, up from last year’s October 2015 at 58.9%, a 6.80% 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:

October 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.

Get Shortlink: http://www.tulsarealestateweb.com/?p=3385
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