Tulsa Real Estate Market Statistics: May 2013 Inventory Analysis for the Tulsa MLS — Report dated June 13, 2013.

Tulsa Real Estate Market Inventory Analysis

Tulsa Real Estate Market Inventory Analysis for the Tulsa MLS during May 2013 indicates the market is continuing to get stronger.

Buyers are still purchasing properties even though interest rates have begun to swing upward from historic lows.

Sellers are putting their homes on the market at a bit higher rate than a year ago, helping to reduce the critical need for listing inventory by reversing the trend.

The active inventory and absorption rate is slightly higher than last month. Prices are continuing to rise back to rate that is closer to what it was ten years ago. Once again homes are appreciating at a rate close to normal (6% per year).

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 1,027 sales per month
Active Inventory: As of May 31, 2013 = 7,671
Closed Listings: 1,259 (up 10.34% over a year ago)
Pending Listings: 1,352 (up 21.91% over a year ago)
New Listings: 2,587 (up 10.13% below a year ago)
Average List Price: $178,391 (up 5.55% over a year ago)
Average Sale Price: $172,259 (up 5.82% over a year ago)
Average Percent of List Price to Selling Price: 97.33% (down 0.14% below a year ago)
Average Days on Market to Sale: 50.34 days (down 13.27% below a year ago)
End of Month Inventory: 7,671 (down 20.94% below a year ago)
Months Supply of Inventory: 7.47 months (down 29.52% below a year ago)

Analysis Wrap Up

Months Supply of Inventory (MSI) Decreases

The total housing inventory at the end of May 2013 decreased 20.94% to 7,671 existing homes available for sale. Over the last 12 months this area has had an average of 1,027 closed sales per month. This represents an unsold inventory index of 7.47 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 5.82% in May 2013 to $172,259 versus the previous year at $162,781.

Average Days on Market Shortens

The average number of 50.34 days that homes spent on the
market before selling decreased by 7.7 days or 13.27% in
May 2013 compared to last year’s same month at 58.04
DOM.

Sales Success for May 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 2,587 New Listings in May 2013, down 10.13%
from last year at 2,349. Furthermore, there were 1,259 Closed
Listings this month versus last year at 1,141, a 10.34% increase.

Closed versus Listed trends yielded a 48.7% ratio, up from last
year’s May 2013 at 48.6%, a 0.19% 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: May 2013 Inventory Analysis for the Tulsa MLS

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