Tulsa Hobby Farms — Houses on 5 to 20 Acres — Housing Market Analysis – April 2021

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

Here is a look at the housing market as of April 25, 2021 for hobby farms, single-family houses on 5 to 20 acres within a 60-mile radius of Tulsa, Oklahoma, (within commuting distance of Tulsa, OK). These are real estate market statistics for single-family houses on 5 to 20 acres within commuting distance of Tulsa, OK (hobby farms within a 60-mile radius an hour around Tulsa).

It is definitely a sellers’ market for hobby farms within commuting distance of Tulsa, Oklahoma. This month, the entire market is skewed in favor of sellers, since a six-month supply of homes is considered a balanced market for existing single-family homes.

April 2021 real estate market statistics for hobby farms, single-family houses on 5 to 20 acres within commuting distance of Tulsa, OK (hobby farms within a 60-mile radius an hour around Tulsa)

The following graph shows the change in the 3-month absorption rate over the past twelve months for hobby farms, homes (i.e., single-family houses) on 5 to 20 acres within a 60-mile radius of Tulsa, Oklahoma, (within commuting distance of Tulsa, OK).

Graph of the change in the 3-month absorption rate for single-family houses on 5 to 20 acres within commuting distance of Tulsa, OK (hobby farms within a 60-mile radius an hour around Tulsa)

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 January 25, 2021 through April 25, 2021. It is an analysis of trends and shifts in the real estate market for Tulsa lifestyle farms since the previous month (March 2021).

This category is a study of the supply and demand for single-family homes, a statistical 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.

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 63 active listings and 112 pending listings, giving us a “hotness index” of 177.78%.

With 148 listings sold in the last three months, there is a sales velocity of 49.3 homes sold per months. The resulting 3-month absorption rate for all price points is 1.28 months. That is a 5-month supply of hobby farms for sale within commuting distance of Tulsa.

With 381 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 38.85, just slightly less than last month (39.08%).

Hobby Farms Priced Up to $100,000

In the price point under $100,000 there are 1 active listings and 5 pending listings, giving us a “hotness index” of 500.00%.

With 10 listings sold in the last three months, there is a sales velocity of 3.3 homes sold per month. The resulting 3-month absorption rate for the price point under $100,000 is 0.90 months.  That is a four-week supply of hobby farms for sale within commuting distance of Tulsa that are price under $100,000.

With 18 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 55.56%, which is the same as last month (55.56%).

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

In the price point ranging between $100,000 and $150,000 there are 3 active listings and 5 pending listings, giving us a “hotness index” of 166.67%.

With 11 listings sold in the last three months, there is a sales velocity of 3.7 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $100,000 and $150,000 is 0.82 months. That is a 4-week’s supply of hobby farms for sale within commuting distance of Tulsa within an hour of Tulsa.

With 22 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 50.00%, the same as last month (50.00%).

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

In the price point ranging between $150,000 and $200,000 there are 5 active listings and 22 pending listings, giving us a “hotness index” of 440.00%.

With 20 listings sold in the last three months, there is a sales velocity of 6.7 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $150,000 and $200,000 is 0.75 months. That is a 3-week supply of hobby farms for sale within commuting distance of Tulsa.

With 52 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 38.46%. These odds are not as good as last month (40.91%).

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

In the price point ranging between $200,000 and $300,000 there are 9 active listings and 29 pending listings, giving us a “hotness index” of 322.22%.

With 41 listings sold in the last three months, there is a sales velocity of 13.7 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $200,000 and $300,000 is 0.66 months. That is a two-weeks supply of hobby farms for sale within commuting distance of Tulsa.

With 87 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 47.13%. These odds are not as good as last month (51.85%).

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 20 pending listings, giving us a “hotness index” of 142.86%.

With 30 listings sold in the last three months, there is a sales velocity of 10.0 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $300,000 and $400,000 is 1.40 months. That is a six-week’s supply of hobby farms for sale within commuting distance of Tulsa.

With 74 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 40.54%. These odds are better than last month (44.59%).

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

In the price point ranging between $400,000 and $600,000 there are 13 active listings and 24 pending listings, giving us a “hotness index” of 184.62%.

With 26 listings sold in the last three months, there is a sales velocity of 8.7 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $400,000 and $600,000 is 1.50 months. That is almost a 6-week’s’s supply of hobby farms for sale within commuting distance of Tulsa.

With 76 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 34.21%. These odds are better than last month (27.42%).

Hobby Farms Priced from $600,00 and Above

In the price point above $600,000 there are 21 active listings and 8 pending listings, giving us a “hotness index” of 38.10%.

With 14 listings sold in the last three months, there is a sales velocity of 4.7 homes sold per month. The resulting 3-month absorption rate for the price point above $600,000 is 4.50 months. That is a 20-week’s supply of hobby farms for sale within commuting distance of Tulsa, indicating that the market at this price point is becoming fairly well balanced.

With 63 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 22.22%. These odds are better than last month (17.74%).

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

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Furthermore, if you are interested in selling your 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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