Real Estate Analysis and Commentary in Tulsa

Median sales price as increased 5% over the past 12 months for the City of Tulsa, 1.5% over past month. 

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. 

The Tulsa MSA January Home Sales Statistics, compiled by the Greater Tulsa Association of REALTORS and MLS Technology, show a significant decline in home sales for January 2023. There were 1129 Closed sales in 2022 compared to 698 closed sales in 2023. That is a 38% decline in home sales. 

Pending listings (listings that went under contract) declined as well, down 15% for the month. Slower sales did not hurt the average sales price, which increased 8% for the same period while the Median price increased 4%.  

Fewer homes were listed for sale (1358 in 2022 compared to 1198 in 2023), which would explain how the average and median home prices increased while the number of sales decreased. There is less and less inventory available for buyers.