Jenks, OK Housing Market Analysis – April 2021

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Real Estate Agent with Coldwell Banker BRE #01513285
Original content by Debbie Durkee 120358

Here is a look at the Jenks, OK housing market as of April 25, 2021.

Real estate market statistics for single-family houses in Jenks, OK for the month of April 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.

Graph of the change in the 3-month absorption rate for single-family homes in Jenks, OK for the month of April 2021.

This article is a real estate market analysis for single-family homes in Jenks, Oklahoma for the period from January 25, 2021 through April 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 (March 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:

  1. the hotness index for houses, calculating the ratio between pending and active MLS listings;
  2. the velocity of the real estate market, showing how many houses are selling each month
  3. 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);
  4. 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absorption rate and comparing it to all the rooftops in the market (the active, pending, closed, expired, released and withdrawn listings in the MLS).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 124 active listings and 242 pending listings, giving us a “hotness index” of 195.16%.

With 383 listings sold in the last three months in Jenks, there is a sales velocity of 127.7 homes sold per month. The resulting 3-month absorption rate for all price points is 0.97 months. That is a four-week supply of houses for sale in Jenks.

With 841 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 45.54%. Those odds are just a bit better than last month (44.62%).

Jenks Houses Priced Up to $100,000

In Jenks at the price point under $100,000 there are 9 active listing and 14 pending listings, giving us an indeterminate “hotness index” of 155.56%

With 16 listings sold in the last three months in Jenks, there is a sales velocity of 5.3 homes sold per month. The resulting 3-month absorption rate for the price point under $100,000 is 1.69 months. That is a seven-week supply of houses for sale in Jenks in the price point under $100,000.

With 51 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 31.37%. These odds are not nearly as good as last month (37.78%).

Jenks Houses Priced from $100,000 to $150,000

In Jenks at the price point ranging between $100,000 and $150,000 there are 2 active listings and 8 pending listings, giving us a “hotness index” of 400.00%.

With 9 listings sold in the last three months in Jenks, there is a sales velocity of 3.0 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $100,000 and $150,000 is 0.67 months. That is a two-week supply of houses selling between $100,000 and $150,000.

With 20 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 45.00%. These odds are not as good as 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 7 active listings and 23 pending listings, giving us a “hotness index” of 328.57%.

With 31 listings sold in the last three months in Jenks, there is a sales velocity of 10.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $150,000 and $200,000 is 0.68 months. That is a three-week supply of houses selling between $150,000 and $200,000.

With 68 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 45.59%. These odds are not as good as month (50.75%).

Jenks Houses Priced from $200,000 to $250,000

In Jenks at the price point ranging between $200,000 and $250,000 there are 7 active listings and 23 pending listings, giving us a “hotness index” of 328.57%.

With 31 listings sold in the last three months in Jenks, there is a sales velocity of 10.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $200,000 and $250,000 is 0.68 months. That is less than a one-week supply of houses selling between $200,000 and $250,000.

With 68 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 45.59%. These odds are not as good as last month (52.38%).

Jenks Houses Priced from $250,000 to $300,000

In Jenks at the price point ranging between $250,000 to $300,000 there are 9 active listings and 36 pending listings, giving us a “hotness index” of 400.00%.

With 65 listings sold in the last three months in Jenks, there is a sales velocity of 21.7 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $250,000 to $300,000 is 0.42 months. That is a two-week supply of houses selling between $250,000 to $300,000.

With 113 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 are 57.52%. These odds are not quite as good as last month (59.60%).

Jenks Houses Priced from $300,000 to $350,000

In Jenks at the price point ranging between $300,000 to $350,000 there are 4 active listings and 22 pending listings, giving us a “hotness index” of 550.00%.

With 52 listings sold in the last three months in Jenks, there is a sales velocity of 17.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $300,000 to $350,000 is 0.23 months. That is a two-week supply of houses selling between $300,000 to $350,000.

With 80 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 65.00%. These odds are way better than last month (48.10%).

Jenks Houses Priced from $350,000 to $400,000

In Jenks at the price point ranging between $350,000 to $400,000 there are 24 active listings and 35 pending listings, giving us a “hotness index” of 145.83%.

With 46 listings sold in the last three months in Jenks, there is a sales velocity of 15.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $350,000 to $400,000 is 1.57 months. That is a six-week supply of houses selling between $350,000 to $400,000.

With 111 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 41.44%. These odds are not as good as last month (46.51%).

Jenks Houses Priced from $400,000 to $500,000

In Jenks at the price point ranging between $400,000 to $500,000 there are 8 active listings and 41 pending listings, giving us a “hotness index” of 512.50%.

With 51 listings sold in the last three months in Jenks, there is a sales velocity of 17.0 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $400,000 to $500,000 is 0.47 months. That is a two-week supply of houses selling between $400,000 to $500,000.

With 108 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 47.22%. These odds are better than last month (42.55%).

Jenks Houses Priced from $500,000 to $800,000

In Jenks at the price point ranging between $500,000 to $800,000 there are 32 active listings and 31 pending listings, giving us a “hotness index” of 96.88%.

With 49 listings sold in the last three months in Jenks, there is a sales velocity of 16.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $500,000 to $800,000 is 1.96 months. That is an eight-week supply of houses selling between $500,000 to $800,000.

With 137 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 35.77%. These odds are better than last month (31.62%).

Jenks Houses Priced from $500,000 and Above

In Jenks at the price point ranging from $500,000 and above there are 22 active listings and 9 pending listings, giving us a “hotness index” of 40.91%.

With 8 listings sold in the last three months in Jenks, there is a sales velocity of 2.7 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging from $500,000 and above is 8.25 months. That’s less than a year’s supply of houses selling from $500,000 and above.

With 60 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 13.33%. These odds are better than last month (8.16%).

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 – April 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.

 

Debbie Durkee, CRS, ABR, CDPE, CHMS, CNHS, e-PRO, Green, GRI, REOS, SRES
Broker Associate

RE/MAX T-town
1768 S. Utica Avenue
Tulsa, OK  74104

Cell:  918-724-8201

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Posted by

Mike Jackson, CNE, CDPE

Broker Associate

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Comments (2)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Michael and thanks for sharing your marketing report with us here in the rain.  Always good to compare with my area.

 

May 03, 2021 07:53 PM
Debbie Durkee
RE/MAX T-town - Tulsa, OK
ALC, CRS -- Land & Country Estates near Tulsa

Thank you, Michaeil, for reblogging my post.  I love the back links!

May 04, 2021 05:53 AM