Broken Arrow, OK Housing Market Analysis

Here is a look at the Broken Arrow, OK housing market as of March 25, 2021.

Broken Arrow Real Estate Market 2021-03-25

The following graph shows the change in the 3-month absorption rate over the past twelve months for single-family homes (i.e., houses) in Broken Arrow, OK.

Broken Arrow Absorption Rate vs Time Graph March 2021

This article is a real estate market analysis for single-family homes in Broken Arrow, Oklahoma for the period from December 25, 2020 through March 25, 2021. It is an analysis of trends and shifts in the real estate market for houses in the City of Broken Arrow together with the Broken Arrow Public School District since the previous month (February 2021).

This post is a study of the supply and demand for single-family homes, an analysis of the housing market for houses, using MLS statistics for houses (single-family homes) to show:

the hotness index for houses, calculating the ratio between pending and active MLS listings;
the velocity of the real estate market, showing how many houses are selling each month
the 3-month absorption rate, showing the current supply of houses on the market or how long it will take to sell all the houses currently on the market (assuming no other single-family homes come on the market);
the odds of selling over the next 90 days, using the absorption rate and comparing it to all the rooftops in the market (the active, pending, closed, expired, released and withdrawn listings in the MLS).

This analysis will show the market trends in order to spot shifts in the market. Graphs show the change in the 3-month absorption rate and show whether a particular price point is in a buyer’s market or a seller’s market.

Methodology

Each month on the 25th I pull CMAs and then plug the data into a spreadsheet so that I can look at the real estate market at various price points and see how it is doing by comparison to the previous month. I then have my husband graph the change in the 3-month absorption rate.

How does one define “Broken Arrow?” It can be the Broken Arrow Public School District OR it can be the City of Broken Arrow with zip codes 74011, 74012 or 74014.

The Broken Arrow area covered therefore includes single-family houses located in the City of Broken Arrow (Broken Arrow, Union, and Bixby Public School Districts) AND The City of Tulsa in Broken Arrow Public School District.

When it comes to houses in Broken Arrow here is what I discovered:

Broken Arrow Houses at All Price Points

In Broken Arrow there are 79 active listings and 314 pending listings, giving us a “hotness index” of 397.47%.

With 530 listings sold in the last three months, there is a sales velocity of 176.7 homes sold per month. The resulting 3-month absorption rate for all price points is 0.45 months. That is a two-week supply of houses for sale in Broken Arrow.

With 992 total houses in the market (active, pending, closed, expired, released and withdrawn listings), the odds of selling a house in Broken Arrow within the next 90 days are 53.43%. Those odds are just a bit lower than last month (53.67%).

Broken Arrow Houses Priced Up to $100,000

In Broken Arrow at the price point under $100,000 there is 1 active listing and 3 pending listings, giving us a “hotness index” of 300.00%.

With 6 listings sold in the last three months, there is a sales velocity of 2.0 homes sold per month. The resulting 3-month absorption rate for the price point under $100,000 is 0.50 months. That is a two-week supply of houses in Broken Arrow that are priced under $100,000.

With 11 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point below $100,000, the odds of selling a house in Broken Arrow within the next 90 days are 54.55%. These odds are not as good as last month (69.23%).

Broken Arrow Houses Priced from $100,000 to $150,000

In Broken Arrow at the price point ranging between $100,000 and $150,000 there are 6 active listings and 23 pending listings, giving us a “hotness index” of 383.33%.

With 45 listings sold in the last three months, there is a sales velocity of 15 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $100,000 and $150,000 is 0.40 months. That is a 2-week supply of houses selling between $100,000 and $150,000.

With 85 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $100,000 and $150,000 the odds of selling a house in Broken Arrow within the next 90 days is 52.94%. These odds are better than last month (48.19%).

Broken Arrow Houses Priced from $150,000 to $200,000

In Broken Arrow at the price point ranging between $150,000 and $200,000 there are 4 active listings and 77 pending listings, giving us a “hotness index” of 1925%.

With 151 listings sold in the last three months, there is a sales velocity of 50.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $150,000 and $200,000 is 0.08 months. That is less than a week’s supply of houses selling between $150,000 and $200,000.

With 249 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $150,000 and $200,000 the odds of selling a house in Broken Arrow within the next 90 days is 60.64%. These odds are better than last month (58.24%).

Broken Arrow Houses Priced from $200,000 to $250,000

In Broken Arrow at the price point ranging between $200,000 to $250,000 there are 5 active listings and 82 pending listings, giving us a “hotness index” of 1640.00%.

With 115 listings sold in the last three months, there is a sales velocity of 38.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $200,000 to $250,000 is 0.13 months. That is less than a week’s supply of houses selling between $200,000 to $250,000.

With 210 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $200,000 to $250,000 the odds of selling a house in Broken Arrow within the next 90 days is 54.76%. These odds are not as good as last month (65.42%).

Broken Arrow Houses Priced from $250,000 to $300,000

In Broken Arrow at the price point ranging between $250,000 to $300,000 there are 16 active listings and 46 pending listings, giving us a “hotness index” of 287.50%.

With 79 listings sold in the last three months, there is a sales velocity of 26.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $250,000 to $300,000 is 0.61 months. That is a two-week’s supply of houses selling between $250,000 to $300,000.

With 151 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $250,000 to $300,000 the odds of selling a house in Broken Arrow within the next 90 days is 52.32%. These odds are not as good as last month (55.04%).

Broken Arrow Houses Priced from $300,000 to $350,000

In Broken Arrow at the price point ranging between $300,000 to $350,000 there are 15 active listings and 38 pending listings, giving us a “hotness index” of 253.33%.

With 59 listings sold in the last three months, there is a sales velocity of 19.7 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $300,000 to $350,000 is 0.76 months. That is a three-week’s supply of houses selling between $300,000 to $350,000.

With 121 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $300,000 to $350,000 the odds of selling a house in Broken Arrow within the next 90 days is 48.76%. These odds are better than last month (45.45%).

Broken Arrow Houses Priced from $350,000 to $400,000

In Broken Arrow at the price point ranging between $350,000 to $400,000 there are 6 active listings and 37 pending listings, giving us a “hotness index” of 616.67%.

With 41 listings sold in the last three months, there is a sales velocity of 13.7 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $350,000 to $400,000 is 0.44 months. That is a two-week’s supply of houses selling between $350,000 to $400,000.

With 91 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $350,000 to $400,000 the odds of selling a house in Broken Arrow within the next 90 days is 45.05%. These odds are much better than last month (30.93%).

Broken Arrow Houses Priced from $400,000 to $500,000

In Broken Arrow at the price point ranging between $400,000 to $500,000 there are 10 active listings and 15 pending listings, giving us a “hotness index” of 150.00%.

With 39 listings sold in the last three months, there is a sales velocity of 13.0 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $400,000 to $500,000 is 0.77 months. That is a three-week’s supply of houses selling between $400,000 to $500,000.

With 70 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $400,000 to $500,000 the odds of selling a house in Broken Arrow within the next 90 days is 55.71%. These odds are much better than last month (40.74%).

Broken Arrow Houses Priced from $500,000 and Above

In Broken Arrow at the price point ranging from $500,000 and above there are 16 active listings and 8 pending listings, giving us a “hotness index” of 50.00%.

With 10 listings sold in the last three months, there is a sales velocity of 3.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging from $500,000 and above is 4.80 months. That is a 19-week supply of houses selling above $500,000.

With 37 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point from $500,000 and above the odds of selling a house in Broken Arrow within the next 90 days is 27.03%. These odds are not as good as last month (44.00%).

Debbie Durkee can send you the raw data that went into the above market analysis. The data comes from what we call a comparative analysis.

Helpful Links

To search for homes for sale (single-family houses for sale) in Broken Arrow Schools, go to Homes for Sale in Broken Arrow Public Schools

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Furthermore, if you are interested in selling your Broken Arrow home and choose to list with Debbie, she will provide a detailed analysis of the market in your neighborhood or school district so that you can decided the best list price for your home, so it will sell.

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