Real Estate Analysis and Commentary in Tulsa

City of Tulsa Mid Year housing figues show strong list to sales price ratio. What's that mean? It means homes are selling at 99.1% of the list price, basically for full asking price. 

Median price also increased slightly. Months of inventory remain very low and still favor a strong seller's market, which explains the list to sold price ratio as well. 

February 2023 sales trailed February 2022's pace. While increasing slightly over January 2023's number of pending sales. The total number of listings taken was almost identical over the same February 2022-2023 time period. Low inventory continues and as a result prices have been slowing increasing.  

What's this mean? Pending sales are normally a good indicator of what closed sales will look like over the next 2 months. Look for a stable to slowly increasing median sales price in the market over the next couple of months as we enter the busy summer selling season.