As of July 2024, the Tulsa real estate market is showing signs of stabilization. While we're seeing a slight increase in new listings, the overall market remains healthy with rising average prices.

Key Market Trends

• Sales Activity: The market is showing signs of stabilization, with closed and pending sales remaining relatively close to last year's levels.
• New Listings: The number of new listings has increased slightly, indicating a growing inventory.
• Prices: Average listing and sales prices continue to rise, reflecting strong demand and limited supply.
• Days on Market: Homes are taking slightly longer to sell compared to previous months, as the market transitions toward a more balanced state.

Seller's Market Conditions

• Pricing: Strategic pricing is crucial for attracting buyers and achieving a quick sale.
• Inventory: While the inventory is increasing, it's still a seller's market, allowing for competitive pricing.
• Negotiation: While multiple offers may not be as common as in the past, sellers can still negotiate to their advantage.

Buyer's Market Opportunities

• Increased Choices: The growing inventory provides buyers with more options to choose from.
• Negotiation: Buyers may have more leverage in negotiations, especially for properties that have been on the market for an extended period.

If you're considering a move, now could be a great time to consult with a real estate professional. We can provide personalized advice based on your specific needs and goals.

Contact the Wolek Group today to discuss your real estate needs.

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