Tulsa-Area Home Sales Bouncing Back

The real estate roller coaster is on its way up with a surge in home sales. Homes are selling within days, and sellers are getting top dollar.

Home sales are bouncing back a little nationally from the recession, but Tulsa is seeing a large improvement. Sales here are up for the last month and for the year, following what realtors thought was a good 2013.

A neighborhood in Bixby is under construction, and the homes are already selling. They're mid-size homes -- most in the $200,000 range -- and consultant Lesa Stokes said they're in high demand.

“And then this is just a good price point for Bixby right now, the $190s to $300,000; it's a good price point,” Stokes said.

In growing communities, like Bixby, new homes sales are a bigger part of the equation, but sales in all categories, all over the Tulsa area, are up.

Fred Keas is president of the Greater Tulsa Association of Realtors.

Tulsa Real Estate Numbers For July 2014

"Your housing industry is always an indicator of how the economy is doing because when people put out money to buy a house it means they feel confident about things and it's good right now,” Keas said.

In Tulsa, the trend is towards homes on the market selling faster, now 37 days on average, and closer to list price, on average 98 percent of list price.

There are fewer homes on the market, down to 7,800 new listings in July, and closings are up 11 percent this July compared to last year.

Stokes said the new homes she's selling generally go to first time buyers and retirees looking to downsize into a house they won't have to work to maintain.

She said her business seems to increase every year.

“Once this community is up and running, I bet we'll be selling 50 homes a year,” Stokes said.

With more sold signs going up, and more sales going through, Keas said generally he would call it a sellers' market but on the other hand, it's also a good time to buy.

"It's a very good time to buy and the buyers are out there in droves. All of the realtors I deal with are so busy," Keas said.

In the Tulsa region, the average house sells for $138,000 and about 1,100 homes change hands every month.