Here is a look at the Jenks, OK housing market as of March 25, 2021.
The following graph shows the change in the 3-month absorption rate over the past twelve months for single-family homes (i.e., houses) in Jenks, OK.
This article is a real estate market analysis for single-family homes in Jenks, Oklahoma for the period from December 25, 2020 through March 25, 2021. It is an analysis of trends and shifts in the real estate market for houses in the City of Jenks together with the Jenks Public School District since the previous month (February 2021).
This post is a study of the supply and demand for single-family homes, an analysis of the housing market for houses, using MLS statistics for houses (single-family homes) to show:
- the hotness index for houses, calculating the ratio between pending and active MLS listings;
- the velocity of the real estate market, showing how many houses are selling each month
- the 3-month absorption rate, showing the current supply of houses on the market or how long it will take to sell all the houses currently on the market (assuming no other single-family homes come on the market);
- the odds of selling over the next 90 days, using the absorption rate and comparing it to all the rooftops in the market (the active, pending, closed, expired, released and withdrawn listings in the MLS).
This analysis will show the market trends in order to spot shifts in the market. Graphs show the change in the 3-month absorption rate and show whether a particular price point is in a buyer's market or a seller's market.
Methodology
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.
The area covered includes single-family houses located in Jenks Public School District (with a Jenks or Tulsa address) as well as single-family houses in the City of Jenks, OK.
When it comes to houses in Jenks here is what I discovered:
Jenks Houses at All Price Points
In Jenks there are 91 active listings and 211 pending listings, giving us a "hotness index" of 231.87%.
With 332 listings sold in the last three months in Jenks, there is a sales velocity of 110.7 homes sold per month. The resulting 3-month absorption rate for all price points is 0.82 months. That is a three-week supply of houses for sale in Jenks.
With 744 total houses in the market (active, pending, closed, expired, released and withdrawn listings), the odds of selling a house in Jenks within the next 90 days are 44.62%. Those odds are just a bit lower than last month (45.99%).
Jenks Houses Priced Up to $100,000
In Jenks at the price point under $100,000 there are 7 active listing and 10 pending listings, giving us an indeterminate "hotness index" of 142.86%
With 17 listings sold in the last three months in Jenks, there is a sales velocity of 5.7 homes sold per month. The resulting 3-month absorption rate for the price point under $100,000 is 1.24 months. That is a five-week supply of houses for sale in Jenks in the price point under $100,000.
With 45 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 in Jenks within the next 90 days are 37.78%. These odds are not nearly as good as last month (47.06%).
Jenks Houses Priced from $100,000 to $150,000
In Jenks at the price point ranging between $100,000 and $150,000 there is 1 active listing and 3 pending listings, giving us a "hotness index" of 300.00%.
With 13 listings sold in the last three months in Jenks, there is a sales velocity of 4.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $100,000 and $150,000 is 0.23 months. That is a two-week supply of houses selling between $100,000 and $150,000.
With 18 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $100,000 and $150,000 the odds of selling a house in Jenks within the next 90 days is 72.22%. These odds are way better than last month (72.22%).
Jenks Houses Priced from $150,000 to $200,000
In Jenks at the price point ranging between $150,000 and $200,000 there are 6 active listings and 22 pending listings, giving us a "hotness index" of 366.67%.
With 34 listings sold in the last three months in Jenks, there is a sales velocity of 11.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $150,000 and $200,000 is 0.53 months. That is a two-week supply of houses selling between $150,000 and $200,000.
With 67 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $150,000 and $200,000 the odds of selling a house in Jenks within the next 90 days is 50.75%. These odds are just slightly better than last month (50.67%).
Jenks Houses Priced from $200,000 to $250,000
In Jenks at the price point ranging between $200,000 and $250,000 there are 2 active listings and 38 pending listings, giving us a "hotness index" of 1900.00%.
With 55 listings sold in the last three months in Jenks, there is a sales velocity of 18.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $200,000 and $250,000 is 0.11 months. That is less than a one-week supply of houses selling between $200,000 and $250,000.
With 105 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $200,000 and $250,000 the odds of selling a house in Jenks within the next 90 days is 52.38%. These odds are better than last month (48.67%).
Jenks Houses Priced from $250,000 to $300,000
In Jenks at the price point ranging between $250,000 to $300,000 there are 4 active listings and 28 pending listings, giving us a "hotness index" of 700.00%.
With 59 listings sold in the last three months in Jenks, there is a sales velocity of 19.7 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $250,000 to $300,000 is 0.20 months. That is a one-week supply of houses selling between $250,000 to $300,000.
With 99 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $250,000 to $300,000 the odds of selling a house in Jenks within the next 90 days is 59.60%. These odds are better than last month (54.74%).
Jenks Houses Priced from $300,000 to $350,000
In Jenks at the price point ranging between $300,000 to $350,000 there are 5 active listings and 27 pending listings, giving us a "hotness index" of 540.00%.
With 38 listings sold in the last three months in Jenks, there is a sales velocity of 12.7 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $300,000 to $350,000 is 0.39 months. That is a two-week supply of houses selling between $300,000 to $350,000.
With 79 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $300,000 to $350,000 the odds of selling a house in Jenks within the next 90 days is 48.10%. These odds are not as good as last month (50.56%).
Jenks Houses Priced from $350,000 to $400,000
In Jenks at the price point ranging between $350,000 to $400,000 there are 15 active listings and 25 pending listings, giving us a "hotness index" of 166.67%.
With 40 listings sold in the last three months in Jenks, there is a sales velocity of 13.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $350,000 to $400,000 is 1.13 months. That is a five-week supply of houses selling between $350,000 to $400,000.
With 86 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $350,000 to $400,000 the odds of selling a house in Jenks within the next 90 days is 46.51%. These odds are not as good as last month (50.60%).
Jenks Houses Priced from $400,000 to $500,000
In Jenks at the price point ranging between $400,000 to $500,000 there are 13 active listings and 28 pending listings, giving us a "hotness index" of 215.38%.
With 40 listings sold in the last three months in Jenks, there is a sales velocity of 13.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $400,000 to $500,000 is 0.98 months. That is a four-week supply of houses selling between $400,000 to $500,000.
With 94 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $400,000 to $500,000 the odds of selling a house in Jenks within the next 90 days is 42.55%. These odds are not quite as good as last month (43.96%).
Jenks Houses Priced from $500,000 to $800,000
In Jenks at the price point ranging between $500,000 to $800,000 there are 19 active listings and 32 pending listings, giving us a "hotness index" of 168.42%.
With 37 listings sold in the last three months in Jenks, there is a sales velocity of 12.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $500,000 to $800,000 is 1.54 months. That is a six-week supply of houses selling between $500,000 to $800,000.
With 117 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $500,000 to $800,000 the odds of selling a house in Jenks within the next 90 days is 31.62%. These odds are not as good as last month (34.62%).
Jenks Houses Priced from $500,000 and Above
In Jenks at the price point ranging from $500,000 and above there are 21 active listings and 4 pending listings, giving us a "hotness index" of 19.05%.
With 4 listings sold in the last three months in Jenks, there is a sales velocity of 1.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging from $500,000 and above is 15.75 months. That's more than a year's supply of houses selling from $500,000 and above.
With 49 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point from $500,000 and above the odds of selling a house in Jenks within the next 90 days is 8.16%. These odds are not as good as last month (12.82%).
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.
Helpful Links
To search for homes for sale (single-family houses for sale) in Jenks Schools, go to Homes for Sale in Jenks Public Schools
To search for homes for sale (single-family houses for sale) in the City of Jenks, go to Homes for Sale in the City of Jenks, OK
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Copyright © 2021 Deborah M. Durkee. ALL RIGHTS RESERVED -- Jenks Housing Market Analysis - March 2021
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Furthermore, if you are interested in selling your Jenks home and choose to list with Debbie, she will provide a detailed analysis of the market in your neighborhood or school district so that you can decided the best list price for your home, so it will sell.
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