Real Estate Analysis and Commentary in Tulsa

It's December 27and so much has happened over the past 12 months in the housing market. Let's take a look at a few of the highlights. The FED has raised rates as promised and we've gone from multiple offers on a property in the first half of the year to seller paid rate buydowns in the latter part of the year. What does that mean for home prices? Here are the Median sales prices for the Entire MLS over the past couple years compared to the Tulsa County median sales price over the same time period. 

January 2019	$155,000
January 2020	$169,749
January 2021	$185,000
January 2022	$207,000

The MLS covers the Eastern half of Oklahoma, which is a large area and although these stats don't mean much to anyone, let's look a little more in depth and see how they compare to Tulsa County. 

January 2019	$160,375
January 2020	$175,965
January 2021	$211,950
January 2022	$224,555

Tulsa County is the largest county and trends slightly higher than the MLS as a whole. Here's a graph of the above data. The bottom line is real estate cannot be looked at as a short term investment. Historically speaking, year over year the Tulsa area continues to be a stable housing market.