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It’s a Great Time to Invest in Tulsa Real Estate!

What a great month is has been for buyers here on the Tulsa, OK real estate market!

After all, the average listing price has gone down as has the average price per square foot. What’s more, the total number of home sales has decreased.

This indicates that it’s a great time to get a good price for a home here in Tulsa – and then turn a nice profit down the road.

If you’ve been on the fence about whether to purchase a home here, continue reading to learn more about the current state of the market.

An Overview of Real Estate Activity in Tulsa

Here’s what every home buyer should know about the current state of the market here in Tulsa:

  • Currently there are 2,057 homes for sale on the market, including hundred that are some stage of the foreclosure process.
  • Between March and June, the average price per square foot for Tulsa homes was $84, down 3.4 percent from the same period a year ago.
  • Also during that time period, the median sales price for homes here was $136,500, based on 363 home sales.
  • When compared to a year ago, the median home sales price increased 1.1 percent, or $1,500.
  • And the number of home sales decreased 67 percent.
  • During the week ending on June 3, the average listing price for Tulsa homes was $254,059, down 0.3 percent from the week before.
  • During that previous week, the average listing price was $255,000.
  • Popular neighborhoods in Tulsa, including Lynn Lane and Maple Ridge, meanwhile, had average listing prices of $225,169 and $511,012, respectively.

We’ll Help With Your Next Tulsa Home Purchase

As you can see, it really is a great time to be a home buyer on the local housing market here in Tulsa.

Thus, if you’re ready to take that next step toward finding your dream home here, please make sure to connect with us at Accent Realtors.

We would love to assist you by answering any questions you might have as well as providing you with some valuable home buying resources. We’ll also tell you all about the available listings right now on the market.

Until next time,

Paul

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Fun in Tulsa This Month!

Summer is officially in full-swing here in the Tulsa area! We love this time of year because it’s a great time to kick back, unwind and enjoy the company of those who matter with you most!

To that end, we wanted to share with you some upcoming community events that we thought you and your family might be interested in checking out.

If you end up attending one of these community events, please let us know! We’d love to hear how it goes!

Mark Your Calendar For These Tulsa Area Events in June

So without further ado, here are some upcoming events that are worth checking out if you live in the Tulsa area:

Zoorassic Park: Take your kids back in time with this special showcase at the Tulsa Zoo. Zoorassic Park 2 features 26 giant displays, including 11 dinosaur species. The exhibit also features two super-sized bug displays, including a grasshopper and ladybug. It’s a fascinating exhibit for the whole family!

  • When: Now through August 31
  • Where: Tulsa Zoo
  • Admission: Admission to the special exhibit is just $5 per person with regular zoo admission or $4 per person for members.
  • More Info: Visit https://www.tulsazoo.org/roar

Warren Theatre Summer Kids Series: This series is free to the public and includes fabulous productions of such fan favorites as The Croods, Puss in Boots, How to Train Your Dragon, The Lego Movie and Turbo.

  • When: Now through August 4
  • Where: Broken Arrow Warren Theatre, 1700 W. Aspen Creek Dr. in Broken Arrow
  • Admission: FREE!
  • More Info: Call (918) 893-3545

Local Farmer’s Market: Even if you’re not grocery shopping, the Wagoner Farmer’s Market is a great way to get out and meet your neighbors. The market is open every Thursday evening from 6:00 to 8:00pm

  • When: Every Thursday
  • Where: Cherokee and Main Street in Wagoner, OK
  • Admission: FREE
  • More Info: Visit www.tulsaworld.com

Confidence Camps: This summer, bring your kids to this camp series at Guts Church in Tulsa. It’s a great way to keep them busy this summer while giving them a new skill they’ll learn for their entire lives!

  • When: Starting Monday, June 15 and repeating every week on Monday, Tuesday, Wednesday, and Thursday until July 27
  • Where: Guts Church, 9120 E Broken Arrow Expressway in Tulsa
  • Admission: $50 per child
  • More Info: Call (918) 622-4422

Interested in Relocating to Tulsa?

We hope you get a chance to check out at least one of these events this month in Tulsa. They really sound like they’ll be enjoyable events to experience!

For now, if you’re interested in relocating to Tulsa and making this your permanent home, please don’t hesitate to contact us at Accent Realtors today.

We would love to assist you by answering any questions you might have as well as providing you with some valuable home buying resources.

Until next time,

Paul

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The Ins and Outs of Obama’s New Mortgage Refi Plan

On October 25, 2011 President Obama announced a plan to ease eligibility rules for home owners who want to refinance and take advantage of ultra-low mortgage rates to lower their mortgage payments. The administration hopes that by broadening its requirements for the Home Affordable Program that about 1 million home owners will now be able to qualify.

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August Real Estate Statistics

Month’s Supply of Inventory (MSI) Decreases

The total housing inventory at the end of August 2011 decreased 10.8% to 7,661 existing homes available for sale. Over the last 12 months this area has had an average of 761 closed sales per month. This represents an unsold inventory index of 10.07 MSI for this period.

Average Sale Prices Going Up

According to the preliminary trends, this market area has experienced some upward momentum with the increase of Average Price this month. Prices went up 2.22% in August 2011 to $156,523 versus the previous year at $153,124.

Average Days on Market Lengthens – The average number of 62.31 days that homes spent on the market before selling increased by 6.02 days or 10.70% in August 2011 compared to last year’s same month at 56.28 DOM.

Sales Success for August 2011 is Positive

Overall, with Average Prices going up and Days on Market increasing, the Listed versus Closed Ratio finished strong this month.

There were 1,793 New Listings in August 2011, down 6.42% from last year at 1,916. Furthermore, there were 948 Closed Listings this month versus last year at 744, a 27.42% increase.

Closed versus Listed trends yielded a 52.9% ratio, up from last year’s August 2011 at 38.8% a 36.16% upswing. This will certainly create pressure on a decreasing Month’s Supply of Inventory (MSI) in the following months to come.

*Statistics provided by the Greater Tulsa Association of Realtors