Tulsa Real Estate Market Statistics: September 2017 Inventory Analysis for the Tulsa MLS — Report dated October 12, 2017.
Tulsa Real Estate Market Inventory Analysis
Overall, with Average Prices going up and Days on Market decreasing, the Listed versus Closed Ratio finished weak this month. There were 2,173 New Listings in September 2017, down 3.68% from last year at 2,256. Furthermore, there were 1,282 Closed Listings this month versus last year at 1,388, a -7.64% decrease. Closed versus Listed trends yielded a 59.0% ratio, down from last year’s September 2016 at 61.5% , a 4.11% 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
Absorption: Last 12 months an average of 1,201 sales per month
Active Inventory: As of Septembert 30, 2017 = 5,974
Closed Listings: 1,187 (down 9.60% below a year ago)
Pending Listings: 1,242 (up 6.15% above a year ago)
New Listings: 1,997 (down 2.78% below a year ago)
Average List Price: $192,294 (up 5.77% above a year ago)
Average Sale Price: $186,916 (up 5.70% above a year ago)
Average Percent of List Price to Selling Price: 97.44% (up 0.43% above a year ago)
Average Days on Market to Sale: 43.70 days (up 2.80% above a year ago)
End of Month Inventory: 5,974 (up 12.70% above a year ago)
Months Supply of Inventory: 4.98 months (up 10.53% above a year ago)
Analysis Wrap Up
Months Supply of Inventory (MSI)Increases
The total housing inventory at the end of September 2017 rose 12.70% to 5,974 existing homes available for sale. Over the last 12 months this area has had an average of 1,201 closed sales per month. This represents an unsold inventory index of 4.98 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 5.70% in September 2017 to $186,916 versus the previous year at $176,834.
Average Days on Market Lengthens
The average number of 43.70 days that homes spent on the market before selling increased by 1.19 days or 2.80% in September 2017 compared to last year’s same month at 42.51 DOM.
Sales Success for September 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 1,997 New Listings in September 2017, down 2.78% from last year at 2,054. Furthermore, there were 1,187 Closed Listings this month versus last year at 1,313, a -9.60% decrease.
Closed versus Listed trends yielded a 59.4% ratio, down from last year’s September 2016 at 63.9%, a 7.02% 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:September2017MSAAverage
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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