Maximize Your Real Estate Potential with the Power of Local Market Statistics

Welcome to the dynamic world of local real estate! As your Tulsa neighborhood experts, we’re here to make understanding market statistics easy and enjoyable. Whether you’re dreaming of a new home or getting ready to sell, a clear grasp of local numbers is your key to a seamless and delightful real estate experience. Let’s dive into these insights together, making your journey both successful and fun.

Why Neighborhood Stats Matter

Neighborhood statistics provide a clear picture of the local real estate scene. They help you see beyond the general market trends and understand what’s happening in your area. These numbers offer a real-time glimpse into the unique characteristics of your neighborhood.

happy clients meeting with real estate agent

Simplifying Local Market Statistics

Here’s a straightforward look at some key neighborhood stats:

Average Selling Prices: Shows the going rate for homes in your area, giving you a good idea of market value.
Number of Homes Sold: Tells you about the recent sales activity, indicating the level of market movement.
Average Listing Prices: Provides insight into what sellers are asking for their homes.
Median List Price: Offers a balanced view of the market’s price range.
Inventory Levels: Indicates how many homes are available for sale, hinting at whether it’s a buyer’s or seller’s market.

These figures are just the start. There are many more aspects to consider for a complete market picture.

Practical Strategies for Sellers

As a seller, local market stats are your roadmap to a successful sale. Knowing the average selling prices helps you price your home just right – appealing to buyers and in tune with the market. Also, understanding current inventory levels guides your strategy: whether it’s time to make your listing more competitive or to stand firm on your price. It’s about smart, informed decisions for a swift and satisfying sale.

happy new homebuyers receiving house keys

Making Informed Decisions as a Buyer

For buyers, these neighborhood stats are invaluable. They help you gauge the market, showing when to make a move and how to negotiate. A high number of listings could mean more room for negotiation, while a low inventory suggests a need for quick, decisive action. By understanding these dynamics, you’re not just buying a house; you’re making a well-informed investment in your future.

happy couple receiving guidance from real estate agent

Expert Guidance Every Step of the Way

Joining forces with us means tapping into our deep knowledge of neighborhood market trends. We offer personalized advice and insights, whether you’re selling a cherished home or hunting for your dream house.

Let’s use these insights to your advantage. With our expert guidance, you can navigate the local real estate landscape with ease and make decisions that bring you closer to your goals. Your neighborhood is more than a place to live; it’s full of opportunities waiting to be discovered, and we’re excited to help you uncover them, so that you can Get Ready for Homeownership in 2024!

January 30, 2019

Why It Makes No Sense to Wait for Spring to Sell

The price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018:

Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense.

Bottom Line

Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

June 15, 2015April 18, 2024

Report: US Housing Market Experienced Fantastic Gains This Spring

We just love having the opportunity to share with you good news about the US housing market and this is one of those weeks!

Evidently, according to a recent article we were reading, sales of newly built homes as well as home prices in general saw some great increases during the month of April, further demonstrating that the housing market continues to improve.

If you’re considering buying or selling real estate anytime soon, we encourage you to continue reading to learn more about this exciting development.

What You Should Know About the National Housing Market

Here is some of the most pertinent information you’ll need about the current state of the housing market:

New home sales increased 6.8 percent from March to April, to a seasonally adjusted annual rate of 517,000.
The median price of a new home sold in April was $297,300, up 8.3 percent from the year before.
Meanwhile, the Standard & Poor’s/Case-Shiller Home Price Index increased 4.1 percent in the 12 months that ended in March.
Supplies of existing homes remain tight and home builders are still slow to start construction on new project.
So far in 2015, builders have constructed just more than 1 million housing units, which is not too much different from 2014.
The construction pace increased some in April and actually hit the best level it’s seen since November 2007.
Also so far in 2015, monthly sales of new homes have average 515,000.
Meanwhile, new home purchases have been up 26.1 percent over the last year.
The housing market in April had 4.8 months of supply of new homes, although this is still short of the six months inventory that experts consider a balanced market.
New home sales represent about a tenth of all home purchases.
Historically, new home sales peaked in July 2005, when they hit an annual pace of almost 1.4 million.
Sales bottomed out in February 2011 at 270,0000 units.

Experts attribute steady job growth, historically low interest rates and rising rental costs and key catalysts for the recent improvements on the national housing market.

They have also noted that they believe that the US needs construction of at least 1.5 million new homes a year in order to keep up with the growing population as well as the average loss of existing stock each year because of age.

We’re Your Dedicated Real Estate Experts!

We hope you found the above data as encouraging as we did. The market definitely continues to improve month after month and the memory of the housing market crash continues to fade overtime. This is great news for everyone!

Check back here next time for more valuable information on the current state of the housing market and how it may impact your efforts as a buyer or seller.

June 1, 2015April 18, 2024

US Housing Market Well Positioned for Busy Summer Home Buying Season

The summer months should be quite busy for home buyers, sellers and real estate agents alike!

As we head into June, real estate analysts are saying that the national housing market is poised for a successful (and busy!) summer home buying market.

Several factors are at play, experts say, including low housing inventory, pent up demand and increasingly optimistic sellers.

One thing’s for sure: The next few months should be very interesting from a national housing market perspective!

What Every Buyer and Seller Should Know About Market Activity

According to the latest sales figures released by the National Association of Realtors, sales of previously owned homes increased in March by the most in four years.

In fact, purchases increased 6.1 percent to a 5.19 million annualized rate, which is the highest level it’s been since September 2013.

On average, homes were being purchased in 52 days on average, which is the fastest sales rate the country has seen since July.

Here are some more highlights from the latest data report:

The share of first-time buyers increased slightly while distressed properties made up a smaller part of the market
The number of homes for sale increased in March for a second month.
In fact, that gain was the biggest since December 2010.
Figures from the Mortgage Bankers Association showed that the group’s index of purchase applications increased in recent weeks to the highest level since June 2013.
The Standard & Poor’s 500 Index increased 0.5 percent to 2,107.96 recently, which is within 12 points of a record high.
More sellers expressed confidence about buyers entering the market as the weather warms, further helping to increase the supply of properties for sale.
In fact, the number of existing properties for sale increased 5.3 percent to 2 million in March from a month earlier.
And sellers’ instincts about buyer interests appear to be spot on. For instance, 40 percent of homes sold in March were on the market for less than a month.
The median price of an existing home jumped 7.8 percent from March 2014 to March 2015, to $212,100. That’s the most since February 2014.
Meanwhile, the cost of a purchased house was 5.4 percent higher in February from the same time last year, which is tied with May 2014 for the biggest gain.
Purchases increased in all four U.S. regions, led by a 10.1 percent increase in the Midwest. They were up 6.9 percent in the Northeast, 6.3 percent in the West and 3.8 percent in the South.
Sales of single-family homes rose 5.5 percent to an annual rate of 4.59 million, which is the most it’s been since August 2013.
Meanwhile, closings on multifamily properties (including condominiums) increased 11.1 percent.
Purchases of distressed properties represented 10 percent of the total, which is down from 11 percent in February.
Also, the average rate for a 30-year fixed mortgage was 3.67 percent recently. The rate was 3.59 percent in February, which was the lowest in almost two years.

One Small Concern is On the Minds of Experts

Experts did express concerns about how fast home prices were rising, which they credited in part to low housing inventory. Thus, economists said the best way to fix that is to increase the supply of homes for sale on the market.
It will be interesting to see if enough sellers enter the market in the next couple of months to temper those price increases.

We’re Your Real Estate Market Experts!

We hope you have found the information above as insightful and encouraging as we did. Seeing the national housing market recover is definitely a welcome sight!

Please check back here soon for more updates on the state of the housing market. We’re confident that having this knowledge will help you make savvier decisions as a buyer or seller.

May 1, 2015April 18, 2024

5 Baby Boomer Housing Market Trends to Watch

Regardless of where you live, experts are expecting that Baby Boomers will have a major impact on the local housing market.

That’s because this sizeable portion of the population is comprised of 76.4 million individuals. And many of them are expected to make major moves over the next several years as they continue to retire.

To that effect, we wanted to share with you the top 5 Baby Boomer real estate trends to watch for in the coming months and years.

The Top 5 Real Estate Trends for Baby Boomers

Although many Baby Boomers plan to move to the Sunbelt when they retire, others may be motivated by different factors.

For instance, some may be motivated by staying closer to families. Others may be looking for the least expensive place to live. Still others may be more interested in moving to a place with a high quality of life for seniors.

Thus, regardless of where you live, it’s important to consider the following Baby Boomer trends:

Boomers want to pay off their mortgage. Many Baby Boomers own their own home. They’ve been paying a mortgage for decades. Thus, one of their primary goals is going to be to finally pay off the mortgage and own their home outright. In fact, for many, paying off the mortgage is a crucial consideration before they’re willing to retire.

They want more convenience. This may look like a smaller home with less maintenance and less work, but it may not. Baby Boomers also care about living in homes that have modern appliances, energy-efficient doors and other features that will make their life easy. As such, many are also opting for one-story homes because of their bad knees, bad hips, etc.

Baby Boomers want a walkable neighborhood. They’ve already spent a lot of time in their car, what with commuting to work, taking their kids to and from hobbies, etc. So now they’re trying to get back to simpler times, where they lived just a couple of blocks from the grocery store or the local restaurant. They want to be able to access the amenities they want and need without having to always get in the car.

They want to remain on their own. In fact, according to a Merrill Lynch survey, only 10 percent of Baby Boomers say they want to move into any kind of retirement or age-restricted community. Instead, they want to stay in their own homes, in their own neighborhood nad have their own friends.

Baby Boomers want to stay close to their loved ones. This is also a high priority for residents. They not only want to be close to their children, but also their grandchildren as well. Proximity to loved ones is certainly key with this segment of the population.

We’re Your #1 Source for National Real Estate Trends

We hope you’ve learned something new after reading today’s real estate blog. The Baby Boomers will undoubtedly have a huge impact on the real estate market as they prepare for where they want to live their Golden Years.

Please check back here soon to learn about more trends that may impact your local housing market.

April 15, 2015April 18, 2024

Signed Contracts for US Homes Increase, Report Shows.

In the latest sign that the U.S. real estate market is improving, more Americans signed contracts to purchase homes in February than in nearly a year.

The National Association of Realtors released the data, which showed that the seasonally adjusted pending home sales index increased 3.1 percent to 106.9 in February.

That’s the highest it’s been since June 2013!

If you’re preparing to list your home anytime soon on the local housing market, we encourage you to continue reading to learn more about this trend!

US Home Sales Are On the Rise!

Here are some additional highlights from the recent National Association of Realtors report:

Buying activity increased in the Midwest and West during the month of February, although it actually decreased slightly in the Northeast and South.
Existing homes sold at an annual pace of 4.88 million in February, which is slightly below last year’s levels.
The supply of homes was just 4.6 months, compared to five months a year ago. It should be noted that a six month inventory is considered a balanced market.
Average 30-year fixed rates were 3.69 percent last week, according to the mortgage giant Freddie Mac. That was down from a 52-week high of 4.41 percent recently.
Home prices have increased 17 percent since the middle of 2012, which is when the market bottomed out.
Analysts are particularly encouraged by the recent gains because it means that the housing market was able to overcome such unforeseen and uncontrollable hurdles like freezing weather and a particularly harsh winter.

Experts say that the upturn suggests that the spring home buying season will be robust.

They added that home sales are likely to be further supported since the unemployment rate is down to 5.5 percent.

In fact, the unemployment rate is down to its lowest level in nearly seven years! And employers have added 3.3 million jobs during the last year, including 295,000 jobs in February.

All of this is giving would-be home buyers more buying power as well as consumer confidence. This, in turn, is leading more to enter the national housing market in search of their dream home.

We’re Your #1 Real Estate Resource!

We hope you found the above information insightful as a prospective home seller.

As you can see, it really is a great time to list your property on the market. After all, there’s plenty of pent-up home buyer demand and home sales activity appears to be picking up.

Please check back here soon for more valuable insight on that national housing market and how it may impact you. We’d be happy to offer our expert insight in order to help you enjoy a successful outcome as a home seller!

April 10, 2015April 18, 2024

Report: US Home Prices See Gains in February

The national housing market continues to show gains, with home prices rising year-over-year during the month of February.

This is fantastic news as it shows that the U.S. real estate market continues to rebound from the Great Recession.

If you’re considering listing your home anytime soon, please continue reading to learn more about current national housing market trends.

A Closer Look at Recent US Sales Activity

CoreLogic released its February 2015 CoreLogic Home Price Index and the conclusions are favorable for home sellers.

Here are some of the highlights of that report:

US home prices (including distressed sales) increased by 5.6 percent in February 2015 compared to February 2014.
That increase marks three years of consecutive year-over-year increases in national home prices.
Month-over-month, national home prices (including distressed sales) increased 1.1 percent in February 2015 compared to January 2015.
26 states and Washington DC were at or within 10 percent of their peak prices during the month of February.
Six states, including Colorado (+9.8 percent), New York (+8.2 percent), North Dakota (+7.7 percent), Texas (+8.5 percent), Wyoming (+8.4 percent) and Oklahoma (+5.2 percent), marked new home price highs since January 1976 when the CoreLogic HPI began.
When you exclude distressed sales, home prices increased by 5.8 percent in February 2015 compared to February 2014.
And home prices increased by 1.5 percent month over month compared to January 2015.

Certain states stood out for various achievements during the month of February:

If you include distressed sales, the five states with the highest home price appreciation were: Colorado (+9.8 percent), South Carolina (+9.3), Michigan (+8.5 percent), Texas (+8.5 percent) and Wyoming (+8.4 percent).
If you exclude distressed sales, the five states with the highest home price appreciation were: South Carolina (+9.7 percent), New York (+9.2 percent), Colorado (+9 percent), Texas (+7.9 percent) and Florida (+7.8 percent).
If you include distressed sales, the peak-to-current change in the national HPI (from April 2006 to February 2015) was -12.2 percent. If you exclude distressed sales, the peak-to-current change for the same period was -7.8 percent.
If you include distressed sales, only Connecticut had a decline in home prices, with a 0.9 percent decrease.
The five states with the largest peak-to-current declines, including distressed transactions, were: Nevada (-35.4 percent), Florida (-32.4 percent), Rhode Island (-29.6 percent), Arizona (-28.4 percent) and Connecticut (-24.7 percent).
If you include distressed sales, the U.S. saw 36 consecutive months of year-over-year increases.
92 of the top 100 Core Based Statistical Areas (CBSAs) measured by population had year-over-year increases in January 2015.
Those core based statistical areas that saw year-over-year declines were: Baltimore-Columbia-Towson, MD; Philadelphia, PA; Hartford-West Hartford-East Hartford, CT; New Orleans-Metairie, LA; Rochester, NY; Worcester, MA-CT.; Albany-Schenectady-Troy, NY; and New Haven-Milford, CT.

Based on recent market data and projections, the CoreLogic HPI Forecast suggests that home prices, including distressed sales, will increase by 0.6 percent month over month from February 2015 to March 2015 and on a year-over-year basis by 5.1 percent from February 2015 to February 2016.

If you exclude distressed sales, home prices are expected to increase by 0.5 percent month over month from February 2015 to March 2015 and by 4.8 percent year over year from February 2015 to February 2016.

How Can We Help You With Your Next US Home Sale?

If you’re interested in entering the market anytime soon as a home seller, please make sure to contact us.

We would be happy to assist you by further analyzing recent market activity to see how it may affect your specific efforts as a home seller.

March 2, 2015April 18, 2024

The National Real Estate Market Shows Positive Signs of Growth

Things are certainly looking up on the national real estate market! According to a recent report from the national Standard & Poor’s/Case-Shiller Home Price Index, home prices increased during the month of January despite cooling home sales.

Experts believe that a tightening inventory helped to spur the rise in home prices.

This is important information for home sellers as it will help determine their home selling strategy on the local housing market. So continue reading to learn more!

What National Home Sellers Should Know About the Market

Here are the highlights of the most recent report from Standard & Poor’s/Case-Shiller Home Price Index:

National home prices increased 4.6 percent year over year in December, bolstered by increased of 9.3 percent in San Francisco and 8.4 percent in Miami.
Home prices in Chicago increased 1.3 percent year-over-year while Cleveland and Washington saw price gains of 1.5 percent.
Here are some additional cities mentioned in the report, including their year-over-year index change:

Atlanta: 5.1
Boston: 3.8
Chicago: 1.3
Cleveland: 1.5
Dallas: 7.5
Denver: 8.1
Detroit: 2.8
Las Vegas: 6.9
Los Angeles: 5.5
Miami: 8.4
New York: 1.9
San Francisco: 9.3
Washington: 1.5

Meanwhile, experts described how regional housing indicators in the south and west were generally positive while the harsh winter continued to hold back home sales in the Northeast and Midwest.
Specifically, existing home sales in the West dropped 7.1 percent in the month of January, according to National Association of Realtors’ data released Monday.
Meanwhile, national home sales decreased 4.9 percent month over month.
Sales in the Northeast dropped 6 percent month over month, while declining 4.6 percent in the South and 2.7 percent in the Midwest.
Home sales were, however, up year over year in all four regions in January.

How Can We Help Make Your Real Estate Dreams a Reality as a Seller?

Please contact us for more valuable insight on the current state of the national housing market and how it may benefit you as a home seller. We would love to assist you!

And make sure to check back here next time for even more information that will aid you in your real estate endeavors!

February 16, 2015April 18, 2024

Report: US Home Prices On the Rise

The National Association of Realtors recently announced the latest US real estate figures and the numbers are encouraging for anyone considering selling their home.

Evidently, home price growth accelerated in much of the country during the fourth quarter of 2014.

This is a fantastic development for anyone hoping to get a good price on their home for sale. Continue reading to learn more.

What You Should Know About US Home Sales

Here is an overview of the highlights of the most recent real estate market report:

The median price of an existing single-family home increased year-over-year in 86 percent of 175 metropolitan areas.
24 areas had price gains of 10 percent or more.
That figure is up from 16 regions during the third quarter.
Meanwhile, prices declined in 24 areas.
Experts credit the home price acceleration at least in part to low mortgage rates and improving employment conditions.
Still, home price gains are reducing affordability in areas across the country, which had 25 percent growth on average over the last three years.
At the end of the fourth quarter, there were 1.85 million previously-owned homes listed for sale, down from 2.01 million a year earlier.
The number of markets that saw year-over-year price gains in the fourth quarter has increased.
The median price for an existing single-family home in the three months through December was $208,700, which is up 6 percent from the fourth quarter of 2013.

A Different Effect Seen in Canada

As US home prices have increased, a lot of Canadian cities are seeing declines in home prices.

According to the market data:

Home prices have started trending downward in several major Canadian cities, including Montreal, Winnipeg, Calgary and Hamilton, Ont.
Still, at least two major cities showed gains. On an annual basis, home prices were up 7.4 percent in Toronto and up 5.1 percent in Vancouver.

When It Comes to Real Estate, Knowledge is Power

We take pride in being able to provide you with the most up-to-date market information so that you can make informed decisions as home buyers and sellers.

Check back soon for even more updates on the state of the national housing market and how that may impact you as a buyer or seller.

February 5, 2015February 5, 2015

2014 Tulsa Real Estate Market in Review

Recap of the 2014 Tulsa Real Estate Market

The Accent Team had another wonderful year in Tulsa, and I hope you and yours had a fantastic 2014 as well! Buying and selling real estate is a huge investment. Find out how yours is faring.

Real Estate Market Recovery

Real Estate Market The market continues to recover although, at a slower rate than 2013. It also ebbed and flowed more in what we call a “see-saw” recovery. With a global economy, we are affected by so much more than just our local happenings.
The number of sellers in the Tulsa market was up 3.7% in 2014 vs. 9% in 2013.

Shifting to a Seller’s Market

Inventory was down compared to 2013. Tulsa area Months Supply of Inventory (MSI) was down from 7.18 in 2013 to 5.96 in 2014 which means we are heading towards a seller’s market.
Average time on the market was down to 52 days in 2014 compared to 54 days in 2013 and 60 days in 2012.
The most expensive home sold in the Tulsa area sold for $3,475,000 at 26th and Lewis.
Average sales price went up because buyers are finally buying the larger and more expensive homes.

Appreciation Prediction

Appreciation is always a tough number to pin down without selling the exact home multiple times over a period of time.
Our rough estimates are about 1% appreciation this year. We prefer to see 3-7%, but at least we are not losing value in most areas of town.

Effect of Interest Rates

Last but not least, interest rates are expected to rise in 2015, but then, they were also expected to rise in 2014 and did not.
Economists are guesstimating an increase to 5% or more by the end of the year.

So- What do we recommend?

It’s still a buyer’s market in almost all price ranges but things are moving quickly if marketed, staged, and priced well.
It’s a great time to buy because of low rates and being close to the bottom of the market. Because the buyers are out in full force and low inventory, it is also a decent time to sell.
As rates go up over time, the buyer’s ability to buy will be affected.