Here is a look at the housing market as of January 25, 2021 for country estates, houses on 2 to 5 acres within a 60-mile radius of Tulsa, Oklahoma, (within commuting distance of Tulsa, OK).
Country Estates 2 to 5 Acres Real Estate Market 2021-01-25
The following graph shows the change in the 3-month absorption rate over the past twelve months for country estates, single-family homes (i.e., houses) on 2 to 5 acres within a 60-mile radius of Tulsa, Oklahoma, (within commuting distance of Tulsa, OK).
Absorption Rate vs Time Graph 2 to 5 Acres January 2021
This article is a real estate market analysis for country estates, single-family homes, within commuting distance of Tulsa for the period from October 25, 2020 through January 25, 2021. It is an analysis of trends and shifts in the real estate market for houses on 2 to 5 acres since the previous month (December 2020).
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.
When it comes to country estates (homes on 2 to 5 acres) within commuting distance of Tulsa (an hour out, or a 60-mile radius around Tulsa), this is what I discovered.
I look at the market within a 60-mile radius of the “X” created by the intersection of I-44 and the Broken Arrow Expressway. I then divide the market into 7 price point segments.
Country Estates at All Price Points
In the entire market there are 48 active listings and 80 pending listings, giving us a “hotness index” of 166.67 %. With 203 listings sold in the last three months, there is a sales velocity of 67.7 homes sold per months. The resulting 3-month absorption rate for all price points is 0.71 months. That is a three week supply of country estates for sale within commuting distance of Tulsa.
With 383 total houses in the market (active, pending, closed, expired, released and withdrawn listings), the odds of selling a house on 2 to 5 acres within commuting distance of Tulsa within the next 90 days is 53.00%. Those odds are pretty even better than last month!
Country Estates Priced Up to $100,000
In the price point under $100,000 there are 6 active listings and 10 pending listings, giving us a “hotness index” of 166.67%. With 12 listings sold in the last three months, there is a sales velocity of 4.0 homes sold per month. The resulting 3-month absorption rate for the price point under $100,000 is 1.50 months. That is a 6-week supply of country estates for sale within commuting distance of Tulsa that are price under $100,000.
With 31 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 on 2 to 5 acres within an hour of Tulsa within the next 90 days is 38.71%.
Country Estates Priced from $100,000 to $150,000
In the price point ranging between $100,000 and $150,000 there are 2 active listings and 11 pending listings, giving us a “hotness index” of 550.00 %. With 29 listings sold in the last three months, there is a sales velocity of 9.7 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $100,000 and $150,000 is 0.21 months. That is a less than a week’s supply of country estates for sale within commuting distance of Tulsa for country estates within an hour of Tulsa..
With 45 houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $100,000 and $150,000, the odds of selling a house on 2 to 5 acres within commuting distance of Tulsa within the next 90 days is 64.44%.
Country Estates Priced from $150,000 to $200,000
In the price point ranging between $150,000 and $200,000 there are 8 active listings and 19 pending listings, giving us a “hotness index” of 237.50 %. With 31 listings sold in the last three months, there is a sales velocity of 10.3 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $150,000 and $200,000 is 0.77 months. That is a three week supply of country estates for sale within commuting distance of Tulsa.
With 65 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $150,000 and $200,000, the odds of selling a house on 2 to 5 acres within commuting distance of Tulsa within the next 90 days is 47.69%.
Country Estates Priced from $200,000 to $300,000
In the price point ranging between $200,000 and $300,000 there are 8 active listings and 21 pending listings, giving us a “hotness index” of 262.50%. With 66 listings sold in the last three months, there is a sales velocity of 22.0 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $200,000 and $300,000 is 0.36 months. That is a less than two-week supply of country estates for sale within commuting distance of Tulsa.
With 104 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $200,000 and $300,000, the odds of selling a house on 2 to 5 acres within commuting distance of Tulsa within the next 90 days is 63.46%.
Country Estates Priced from $300,000 to $400,000
In the price point ranging between $300,000 and $400,000 there are 8 active listings and 14 pending listings, giving us a “hotness index” of 175.00%. With 43 listings sold in the last three months, there is a sales velocity of 14.3 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $300,000 and $400,000 is 0.56 months. That is a two-week supply of country estates for sale within commuting distance of Tulsa.
With 75 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $300,000 and $400,000, the odds of selling a house on 2 to 5 acres within commuting distance of Tulsa within the next 90 days is 57.33%.
Country Estates Priced from $400,000 to $600,000
In the price point ranging between $400,000 and $600,000 there are 7 active listings and 6 pending listings, giving us a “hotness index” of 85.71%. With 18 listings sold in the last three months, there is a sales velocity of 6.0 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $400,000 and $600,000 is 1.17 months. That is a bit more than a month’s supply of country estates for sale within commuting distance of Tulsa.
With 41 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $400,000 and $600,000, the odds of selling a house on 2 to 5 acres within commuting distance of Tulsa within the next 90 days is 43.90%.
Country Estates Priced from $600,00 and Above
In the price point above $600,000 there are 12 active listings and 0 pending listings, giving us a “hotness index” of 0.00%. With 8 listings sold in the last three months, there is a sales velocity of 2.7 homes sold per month. The resulting 3-month absorption rate for the price point above $600,000 is 4.50 months. That is a about a 18-week supply of country estates for sale within commuting distance of Tulsa.
With 30 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point above $600,000, the odds of selling a house on 2 to 5 acres within commuting distance of Tulsa within the next 90 days is 26.67%.
This is definitely a sellers’ market at every price point for country estates within commuting distance of Tulsa, Oklahoma.
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.
If you are a buyer looking for a house on 2 to 5 acres within an hour of Tulsa, within a 60-mile radius of Tulsa, or searching for Country Estates (houses on 2 to 5 acres) within commuting distance of Tulsa, go to Tulsa Country Estates — Houses on 2 to 5 Acres
To search for homes for sale (single-family houses for sale) within commuting distance of Tulsa, Oklahoma, go to Country Estates for Sale — Houses on 2 to 5 Acres within 60 miles of Tulsa
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Copyright © 2020 Deborah M. Durkee. ALL RIGHTS RESERVED — Tulsa Country Estates — Houses on 2 to 5 Acres — Housing Market Analysis – January 2021
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