Here is a look at the housing market as of April 25, 2021 for farms and ranches, single-family houses on 20 or more 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 (farms and ranches within a 60-mile radius an hour around Tulsa).
At every price point it is still a sellers’ market for farms and ranches within commuting distance of Tulsa, Oklahoma.
The following graph shows the change in the 3-month absorption rate over the past twelve months for farms and ranches, single-family homes (i.e., houses) on 20 plus acres within a 60-mile radius of Tulsa, Oklahoma, (within commuting distance of Tulsa, OK).
This article is a real estate market analysis for farms and ranches, single-family homes on 20 acres or more, 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 farms and ranches since the previous month (March 2021).
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 5 price point segments.
When it comes to farms and ranches (homes on 20 or more acres) within commuting distance of Tulsa (an hour out, or a 60-mile radius around Tulsa), this is what I discovered.
Farms and Ranches at All Price Points
In the entire market there are 47 active listings and 49 pending listings, giving us a “hotness index” of 104.261%.
With 69 listings sold in the last three months, there is a sales velocity of 23.0 homes sold per months. The resulting 3-month absorption rate for all price points is 2.04 months. That is an eight-week supply of farms and ranches for sale within commuting distance of Tulsa.
With 204 total houses in the market (active, pending, closed, expired, released and withdrawn listings), the odds of selling a house on 20 or more acres within commuting distance of Tulsa within the next 90 days is 33.82%, slightly lower than last month (36.11%).
Farms and Ranches Priced Up to $200,000
In the price point under $200,000 there are 3 active listings and 3 pending listings, giving us a “hotness index” of 100.00%.
With 3 listings sold in the last three months, there is a sales velocity of 1.0 homes sold per month. The resulting 3-month absorption rate for the price point under $200,000 is 3.00 months. That is a twelve-week supply of farms and ranches for sale within commuting distance of Tulsa that are priced under $200,000.
With 10 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point below $200,000, the odds of selling a house on 20 acres or more within an hour of Tulsa within the next 90 days is 30.00%, which are lower than last month (40.00%).
Farms and Ranches Priced from $200,000 to $300,000
In the price point ranging between $200,000 and $300,000 there is 1 active listing and 3 pending listings giving us a “hotness index” of 300%.
With 16 listings sold in the last three months, there is a sales velocity of 5.3 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $200,000 and $300,000 is 0.19 months. That is a one-week supply of farms and ranches for sale within commuting distance of Tulsa.
With 22 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 20 acres or more within commuting distance of Tulsa within the next 90 days is 72.73%, which is higher than last month (69.57%).
Farms and Ranches Priced from $300,000 to $400,000
In the price point ranging between $300,000 and $400,000 there are 4 active listings and 12 pending listings, giving us a “hotness index” of 300.00%.
With 19 listings sold in the last three months, there is a sales velocity of 6.3 homes sold per month. The resulting 3-month absorption rate for the price point ranging between $300,000 and $400,000 is 0.63 month. That is a three-week supply of farms and ranches for sale within commuting distance of Tulsa.
With 38 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 20 acres or more within commuting distance of Tulsa within the next 90 days is 50.00%, which is a lower than last month (52.63%).
Farms and Ranches Priced from $400,000 to $600,000
In the price point ranging between $400,000 and $500,000 there are 15 active listings and 15 pending listings, giving us a “hotness index” of 100.00%.
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 $400,000 and $500,000 is 2.25 months. That is a 9-week supply of farms and ranches for sale within commuting distance of Tulsa.
With 59 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point ranging between $400,000 and $500,000, the odds of selling a house 20 or more acres within commuting distance of Tulsa within the next 90 days is 33.90%, quite a bit lower than last month (33.33%).
Farms and Ranches Priced from $600,00 and Above
In the price point above $600,000 there are 24 active listings and 17 pending listings, giving us a “hotness index” of 70.83%.
With 15 listings sold in the last three months, there is a sales velocity of 5.0 homes sold per month. The resulting 3-month absorption rate for the price point above $600,000 is 4.80 months. That is a 19-week supply of farms and ranches for sale within commuting distance of Tulsa.
With 80 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 20 or more acres within commuting distance of Tulsa within the next 90 days is 18.75%, which is a bit lower than last month (19.67%).
____________________
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.
To search for farms and ranches or homes for sale (single-family houses on 20 or more acres for sale) within commuting distance of Tulsa, Oklahoma, go to Tulsa Farms and Ranches — Houses on 20 or More Acres within 60 miles of Tulsa
____________________
Copyright © 2021 Deborah M. Durkee. ALL RIGHTS RESERVED — Tulsa Farms and Ranches — Houses on 20 or More Acres — Housing Market Analysis – April 2021
____________________
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.
Comments(0)