Industry News

Tulsa real estate has best year ever

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Although home sales in the Greater Tulsa, Okla., area cooled in December, closed transactions hit an all-time high for 2006, according to the Greater Tulsa Association of Realtors. The 13,722 home sales reported in the seven-county region in 2006 represents a 4 percent gain from 13,200 sales recorded in 2005. December sales, however, totaled 1,008, down 2.8 percent from 1,037 in the same month a year earlier. "Tulsa did not participate in the 2006 real estate recession," according to GTAR President Ron Sumner, noting that home sales have increased moderately over the last three years. The median home price -- a typical market value where half of the homes sold for more and half sold for less -- held steady in December at $120,000, compared with $119,900 a year earlier. According to statistics, inventory of available homes was lower in December than it was a year ago, falling 0.8 percent to 5,525 listings. The statistics are based on residential properties in the Tulsa MSA (Metro...