Tulsa Real Estate Market Statistics: March 2013 Inventory Analysis for the Tulsa MLS — Report dated April 12, 2013.

Tulsa Real Estate Market Inventory Analysis

Tulsa Real Estate Market Inventory Analysis for the Tulsa MLS during March 2013 indicates the market is getting stronger. The buyers are out in force, but sellers are still reluctant to put their homes on the market. This has caused the inventory to fall and the prices are beginning to creep up.

The following statistics are for the Area delimited by the following Northeast Oklahoma counties:

• Creek County
• Okmulgee County
• Osage County
• Pawnee County
• Rogers County
• Tulsa County
• Wagoner County

If you want to see specific market share information for your midtown Tulsa neighborhood or subdivision, contact Debbie Solano at 918-724-8201.

Quick Summary

Absorption: Last 12 months an average of 1,002 sales per month
Active Inventory: As of March 31, 2013 = 7,313
Closed Listings: 1,134 (up 13.86 % over a year ago)
Pending Listings: 1,345 (up 22.38% over a year ago)
New Listings: 2,335 (down 14.37% below a year ago)
Average List Price: $174,826 (up 12.86% over a year ago)
Average Sale Price: $168,871 (up 12.91% over a year ago)
Average Percent of List Price to Selling Price: 97.76% (up 2.65% over a year ago)
Average Days on Market to Sale: 58.9 days (down 9.30% below a year ago)
End of Month Inventory: 7,313 (down 21.26% below a year ago)
Months Supply of Inventory: 7.3 months (down 30.27% below a year ago)

Analysis Wrap Up

Months Supply of Inventory (MSI) Decreases

The total housing inventory at the end of March 2013
decreased 21.26% to 7,313 existing homes available for sale.
Over the last 12 months this area has had an average of 1,002
closed sales per month. This represents an unsold inventory
index of 7.30 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 12.91% in March
2013 to $168,871 versus the previous year at $149,560.

Average Days on Market Shortens

The average number of 58.90 days that homes spent on the
market before selling decreased by 6.04 days or 9.30% in
March 2013 compared to last year’s same month at 64.94
DOM.

Sales Success for March 2013 is Positive

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

There were 2,335 New Listings in March 2013, down 14.37%
from last year at 2,727. Furthermore, there were 1,134 Closed
Listings this month versus last year at 996, a 13.86% increase.

Closed versus Listed trends yielded a 48.6% ratio, up from last
year’s March 2013 at 36.5%, a 32.97% upswing. This will
certainly create pressure on a decreasing Month’s Supply of
Inventory (MSI) in the following months to come.

Here is the full report:
Tulsa Real Estate Market Statistics: March 2013 Inventory Analysis for the Tulsa MLS

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