Home sales in metro Tulsa 15 percent ahead of 2011 pace
BY ROBERT EVATT World Staff Writer
Thursday, December 20, 2012
12/20/12 at 2:42 AM
Home sales tend to hibernate during the colder months, but Tulsa-area transactions barely dropped in November.
The Greater Tulsa Association of Realtors reported Wednesday that 951 homes changed hands last month. That's 5.5 percent below October's sales but 26 percent ahead of November 2011.
Last month's numbers make it the second-best November since 2008, topped only by 1,070 homes sold in November 2009.
The year-to-date total stands at 10,840, or 15.7 percent ahead of last year through Nov. 30. The 11-month total is the third-highest in five years and nearly matches the 10,884 sales during the first 11 months of 2009. The tally for 2008 was the highest at 11,294.
Rodger Erker, president of GTAR, said the strong sales are fantastic news.
"It looks to me that if you're married to a Realtor, you should expect a better Christmas present this year," he said.
Rising consumer confidence, a strong local economy and minuscule interest rates are still the main factors for increased sales, although improving prices are starting to become a factor, Erker said.
"Buyers are starting to realize that prices have bottomed out and things are starting to turn the other direction," he said.
The November average sales price of $161,998 was 17.57 percent above a year ago. The median sales price - the point at which half the homes sold for more and half for less - hit $122,500 last month, up 3.9 percent from November 2011. The industry views the median as a more stable figure than the average.
Pending home sales indicate the typical seasonal slowdown is coming, although the 738 recorded last month is well above the 650 pending sales listed in November 2011.
Also, the total inventory fell from an estimated 11.5 percent supply a year ago to a 8.9 percent supply last month, and the median number of days a home stays on the market before a buyer is found fell from 55 days last year to 47 days now.
Erker said that, other than worries about the "fiscal cliff" in Washington, most indicators hint that home sales will continue to heat up.
Original Print Headline: Home sales look good, despite dip
Robert Evatt 918-581-8447
robert.evatt@tulsaworld.com
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