Tulsa Real Estate Market Statistics: December 2015 Inventory Analysis for the Tulsa MLS
Tulsa Real Estate Market Statistics: December 2015 Inventory Analysis for the Tulsa MLS — Report dated January 13, 2016.
Tulsa Real Estate Market Inventory Analysis
Tulsa Real Estate Market Inventory Analysis for the Tulsa MLS during December 2015 indicates the market is shifting again.
Home prices are reminiscent of where they were two years ago. One thing is for sure: sales prices are falling.
From data provided by the Greater Tulsa Association 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
Quick Summary
Absorption: Last 12 months an average of 1,132 sales per month
Active Inventory: As of December 31, 2015 = 5,428
Closed Listings: 1,028 (down 1.15% below a year ago)
Pending Listings: 903 (up 11.07% over a year ago)
New Listings: 1,363 (down 7.53% below a year ago)
Average List Price: $169,115 (down 9.36% below a year ago)
Average Sale Price: $164,335 (down 9.13% below a year ago)
Average Percent of List Price to Selling Price: 96.81% (up 0.26% above a year ago)
Average Days on Market to Sale: 48.03 days (down 12.34% below a year ago)
End of Month Inventory: 5,428 (down 4.99% below a year ago)
Months Supply of Inventory: 4.8 months (down 5.9% below a year ago)
Analysis Wrap Up
Months Supply of Inventory (MSI) Decreases
The total housing inventory at the end of December 2015 decreased 4.99% to 5,428 existing homes available for sale. Over the last 12 months this area has had an average of 1,132 closed sales per month. This represents an unsold inventory index of 4.80 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 9.13% in December 2015 compared to $164,335 versus the previous year at $180,845.
Average Days on Market Shortens
The average number of 48.03 days that homes spent on the market before selling decreased by 6.76 days or 12.34% in December 2015 compared to last year’s same month at 54.79 DOM.
Sales Success for December 2015 is Positive
Overall, with Average Prices falling and Days on Market decreasing, the Listed versus Closed Ratio finished strong this month.
There were 1,363 New Listings in December 2015, down 7.53% from last year at 1,474. Furthermore, there were 1,028 Closed Listings this month versus last year at 1,040, a -1.15% decrease.
Closed versus Listed trends yielded a 75.4% ratio, up from last year’s December 2015 at 70.6%, a 6.90% 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: December 2015 Inventory Analysis for the Tulsa MLS
If you want to see specific market share information for your midtown Tulsa neighborhood or subdivision, contact Debbie Solano at 918-724-8201.
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