Tulsa Hobby Farms — Houses on 5 to 20 Acres — Housing Market Analysis – December 2020

By
Real Estate Agent with RE/MAX T-town 120358

Source:  Tulsa Hobby Farms — Houses on 5 to 20 Acres — Housing Market Analysis – December 2020

Except for the highest price point, it is definitely a sellers' market for hobby farms within commuting distance of Tulsa, Oklahoma.  At the price point above $600,000 the market is slightly in favor of buyers, since a six-month supply of homes is considered a balanced market for existing single-family homes.

Here is my December 2020 real estate market analysis for hobby farms (houses on 5 to 20 acres) within commuting distance of Tulsa, Oklahoma. It is a sellers' market at every price point except for the price point above $600,000.

This article is a real estate market analysis for hobby farms, single-family homes on 5 to 20 acres, within commuting distance of Tulsa for the period from September 25, 2020 through December 25, 2020. It is an analysis of trends and shifts in the real estate market for Tulsa lifestyle farms since the previous month (November 2020).

This article is a real estate market analysis for hobby farms, single-family homes on 5 to 20 acres, within commuting distance of Tulsa for the period from September 25, 2020 through December 25, 2020. It is an analysis of trends and shifts in the real estate market for Tulsa lifestyle farms since the previous month (November 2020).

Each month on the 25th I pull CMAs and then plug the data into a spreadsheet so that I can look at the real estate market at various price points and see how it is doing by comparison to the previous month.  I then have my husband graph the change in the 3-month absorption rate.

I look at the market within a 60-mile radius of the "X" created by the intersection of I-44 and the Broken Arrow Expressway.  I then divide the market into 7 price point segments.

When it comes to hobby farms (homes on 5 to 20 acres) within commuting distance of Tulsa (an hour out, or a 60-mile radius around Tulsa), this is what I discovered.

Hobby Farms at All Price Points

In the entire market there are 66 active listings and 98 pending listings, giving us a "hotness index" of 148.48%.   

With 175 listings sold in the last three months, there is a sales velocity of 58.3 homes sold per months.  The resulting 3-month absorption rate for all price points is 1.13 months.  That is a one-month supply of hobby farms for sale within commuting distance of Tulsa.

With 390 total houses in the market (active, pending, closed, expired, released and withdrawn listings), the odds of selling a house on 5 to 20 acres within commuting distance of Tulsa within the next 90 days are 44.87%.  

Hobby Farms Priced Up to $100,000

In the price point under $100,000 there are 4 active listings and 6 pending listings, giving us a "hotness index" of 150.00%.   

With 9 listings sold in the last three months, there is a sales velocity of 3.0 homes sold per month.  The resulting 3-month absorption rate for the price point under $100,000 is 1.33 months.  That is five-week supply of hobby farms for sale within commuting distance of Tulsa that are price under $100,000.

With 22 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point below $100,000, the odds of selling a house on 5 to 20 acres within an hour of Tulsa within the next 90 days are 40.91%. 

Hobby Farms Priced from $100,000 to $150,000

In the price point ranging between $100,000 and $150,000 there is 1 active listings and 7 pending listings, giving us a "hotness index" of 700.00%.   

With 17 listings sold in the last three months, there is a sales velocity of 5.7 homes sold per month.  The resulting 3-month absorption rate for the price point ranging between $100,000 and $150,000 is 0.18 months.  That is a less than a week's supply of hobby farms for sale within commuting distance of Tulsa within an hour of Tulsa..

With 29 houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $100,000 and $150,000, the odds of selling a house on 5 to 20 acres within commuting distance of Tulsa within the next 90 days are 58.62%. 

Hobby Farms Priced from $150,000 to $200,000

In the price point ranging between $150,000 and $200,000 there are 4 active listings and 16 pending listings, giving us a "hotness index" of 400.00%.   

With 24 listings sold in the last three months, there is a sales velocity of 8.0 homes sold per month.  The resulting 3-month absorption rate for the price point ranging between $150,000 and $200,000 is 0.5 months.  That is a two-week supply of hobby farms for sale within commuting distance of Tulsa.

With 49 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $150,000 and $200,000, the odds of selling a house on 5 to 20 acres within commuting distance of Tulsa within the next 90 days are 48.98%. 

Hobby Farms Priced from $200,000 to $300,000

In the price point ranging between $200,000 and $300,000 there are 18 active listings and 27 pending listings, giving us a "hotness index" of 150.00%.   

With 57 listings sold in the last three months, there is a sales velocity of 19.0 homes sold per month.  The resulting 3-month absorption rate for the price point ranging between $200,000 and $300,000 is 0.95 months.  That is a less than a month's supply of hobby farms for sale within commuting distance of Tulsa.

With 109 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $200,000 and $300,000, the odds of selling a house on 5 to 20 acres within commuting distance of Tulsa within the next 90 days are 52.297%. 

Hobby Farms Priced from $300,000 to $400,000

In the price point ranging between $300,000 and $400,000 there are 14 active listings and 24 pending listings, giving us a "hotness index" of 171.43%.   

With 39 listings sold in the last three months, there is a sales velocity of 13.0 homes sold per month.  The resulting 3-month absorption rate for the price point ranging between $300,000 and $400,000 is 1.08 months.  That is a one-month supply of hobby farms for sale within commuting distance of Tulsa.

With 85 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $300,000 and $400,000, the odds of selling a house on 5 to 20 acres within commuting distance of Tulsa within the next 90 days are 45.887%. 

Hobby Farms Priced from $400,000 to $600,000

In the price point ranging between $400,000 and $600,000 there are 11 active listings and 14 pending listings, giving us a "hotness index" of 127.27%.   

With 29 listings sold in the last three months, there is a sales velocity of 9.7 homes sold per month.  The resulting 3-month absorption rate for the price point ranging between $400,000 and $600,000 is 1.14 months.  That is a bit more than a month's supply of hobby farms for sale within commuting distance of Tulsa.

With 66 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $400,000 and $600,000, the odds of selling a house on 5 to 20 acres within commuting distance of Tulsa within the next 90 days are 43.94%. 

Hobby Farms Priced from $600,00 and Above

In the price point above $600,000 there are 17 active listings and 6 pending listings, giving us a "hotness index" of 35.29%.   

With 7 listings sold in the last three months, there is a sales velocity of 2.3 homes sold per month.  The resulting 3-month absorption rate for the price point above $600,000 is 7.29 months.  That is more than a 7-month supply of hobby farms for sale within commuting distance of Tulsa.

With 43 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point above $600,000, the odds of selling a house on 5 to 20 acres within commuting distance of Tulsa within the next 90 days are 16.28%. 

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Debbie Durkee can send you the raw data that went into the above market analysis. The data comes from what we call a comparative analysis.

If you are a buyer looking for a house on 5 to 20 acres within an hour of Tulsa, within a 60-mile radius of Tulsa, or searching for Country Estates (houses on 5 to 20 acres) within commuting distance of Tulsa, go to Tulsa Hobby Farms -- Houses on 5 to 20 Acres within commuting distance of Tulsa

To search for hobby farms, lifestyle farms,country estates or single-family houses on 5 to 20 acres for sale within commuting distance of Tulsa, Oklahoma, go to Tulsa Hobby Farms for Sale -- Houses on 5 to 20 Acres within 60 miles of Tulsa

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Copyright © 2021 Deborah M. Durkee. ALL RIGHTS RESERVED — Tulsa Hobby Farms — Houses on 5 to 20 Acres — Housing Market Analysis – December 2020

 

 

Comments (1)

Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great information.  Thanks for sharing and have a happy Sunday!

Mar 28, 2021 06:58 AM

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