Tulsa Real Estate Market Statistics: April 2016 Inventory Analysis for the Tulsa MLS
Tulsa Real Estate Market Statistics: April 2016 Inventory Analysis for the Tulsa MLS — Report dated May 12, 2016.
Tulsa Real Estate Market Inventory Analysis
Tulsa Real Estate Market Inventory Analysis for the Tulsa MSA during April 2016 indicates the market is beginning to loosen up as inventory expands slightly since last month. Over the past year, however, our inventory of homes for sale has shrunk. Average sales price has decreased and the cumulative days on market has lengthened since last month. However, since last year the average sales price has decreased while the average days on market to sale has also decreased.
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 1,156 sales per month
Active Inventory: As of April 30, 2016 = 5,457
Closed Listings: 1,315 (up 14.85% above a year ago)
Pending Listings: 1,544 (up 4.82% over a year ago)
New Listings: 2,305 (down 1.71% below a year ago)
Average List Price: $173,130 (down 1.34% below a year ago)
Average Sale Price: $171,255 (down 0.99% below a year ago)
Average Percent of List Price to Selling Price: 97.51% (up 0.12% above a year ago)
Average Days on Market to Sale: 47.65 days (down 8.29% above a year ago)
End of Month Inventory: 5,457 (down 2.20% below a year ago)
Months Supply of Inventory: 4.72 months (down 4.04% below a year ago)
Analysis Wrap Up
Months Supply of Inventory (MSI) Decreases
The total housing inventory at the end of April 2016 decreased 2.20% to 5,457 existing homes available for sale. Over the last 12 months this area has had an average of 1,156 closed sales per month. This represents an unsold inventory index of 4.72 MSI for this period.
Average Sale Prices Falling
According to the preliminary trends, this market area has experienced some downward momentum with the decline of Average Price this month. Prices dipped 0.99% in April 2016 compared to $171,255 versus the previous year at $172,965.
Average Days on Market Shortens
The average number of 47.65 days that homes spent on the market before selling decreased by 4.31 days or 8.29% in April 2016 compared to last year’s same month at 51.96 DOM.
Sales Success for April 2016 is Positive
Overall, with Average Prices falling and Days on Market decreasing, the Listed versus Closed Ratio finished strong this month.
There were 2,305 New Listings in April 2016, down 1.71% from last year at 2,345. Furthermore, there were 1,315 Closed Listings this month versus last year at 1,145, a 14.85%increase.
Closed versus Listed trends yielded a 57.0% ratio, up from last year’s April 2016 at 48.8%, a 16.84% 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:
If you want to see specific market share information for your midtown Tulsa neighborhood or subdivision, contact Debbie Solano at 918-724-8201.
Get Shortlink: http://midtowntulsarealestate.net/?p=1084
Copyright© 2016 by Debbie Solano — ALL RIGHTS RESERVED — Midtown Tulsa Real Estate — Tulsa Real Estate Market Statistics: April 2016 Inventory Analysis for the Tulsa MLS