So in looking at how Tulsa real estate did in 2024, I came across the following:
According to Google Generative AI, which quoted Capital Homes, the median home price is $289,000 which is a year over year increase of 5.1%.
According to Realtor.com, in November 2024 the average home in Tulsa is $260,000, a decrease of 6.8%.
Zillow says the median home price in Tulsa is a mere $200,029 (a very precise number) up 4.7%.
Redfin says the average home in Tulsa is $225,000 a 2.8% decrease as of Oct 24th.
I have quite a selection of statistics to pick from depending on what tale I want to tell!
Nowadays with AI and narratives, it's very important to look behind the curtain to see how the data is derived. For instance does the average include the ten million dollar Southern Hills or Wenmoor home? Or was it removed as it's an outlier? With builders building larger homes, the average may not reflect appreciation but the fact that more larger homes are changing hands. Is Tulsa the city of Tulsa, or is the data including Metro Tulsa which includes the surrounding suburbs. Is the data an average of the homes that sold during the year, or all homes?
Another one that is amusing/confusing is the US housing shortage. The Brookings Institute points out that varying estimates put the shortage between 1.5 million (NAHB) to 5.5 million (Realtor.com). Isn't that like saying I'm between 5'8 and 6'2?
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