Is South Tulsa, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Tulsa has remained a Seller's Market.
Key Takeaway
South Tulsa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Tulsa, OK
How much do homes in South Tulsa, OK cost?
Median Sold Price
$314,992
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Tulsa have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in South Tulsa was $314,992 in May 2024, up 6.6% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $85.5K | $128K | +49.7% |
| 3 Bedrooms | $237K | $252.5K | +6.5% |
| 4 Bedrooms | $344.9K | $356.9K | +3.5% |
| 5+ Bedrooms | $581.5K | $487K | -16.3% |
Summary: South Tulsa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 49.7%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 16.3%.
Housing Supply in South Tulsa, OK
How many homes are available in South Tulsa, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 213 | 214 | 0.5% |
Summary: The South Tulsa real estate market had 214 homes for sale in May 2024, a 0.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 83 | 71 | -14.5% |
| 4 Bedrooms | 109 | 115 | +5.5% |
| 5+ Bedrooms | 17 | 21 | +23.5% |
Summary: The South Tulsa housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 14.5%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 23.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 46 | -14.8% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Tulsa, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.
Summary: A total of 46 homes were sold or pending in South Tulsa in May 2024, down by 14.8% month-over-month. Of the 46 sold homes, 48% were sold under asking, 26% were sold at asking, and 26% were sold over asking.
Days on Market for South Tulsa, OK
How long does it take to sell a home in South Tulsa, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 46 Days | +11.6% |
Summary: Homes in South Tulsa had an average of 46 days on market in May 2024, up by 11.6% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Tulsa are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 46 homes were sold in South Tulsa; 57% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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