The stats are in and guys and we are headed for a great Spring/Summer market. Locally we are down to 4.2 months of inventory across our Tulsa, OK MLS board for listings available. What does this mean? Well, 6 months supply is considered a balanced market and anything below leans us into a seller’s market where as anything above 6 months puts the ball in the buyer’s court a bit more. So it you are considering selling now is the time to get yourself positioned in the market. You can expect shorter days on market as home buyers have fewer properties to choose from. And for our buyer’s you will want to be sure to offer quickly once you find “the one” as competition for the great listings may be higher.
For the buyer’s out there you are still in a great position even with the lower inventory of homes available though! Interest rates while predicted last year to rise a bit more than they did have actually dropped back down for the time being. This means more purchasing power in your pocket!
Overall, everyone can win in our current market climate. Seller’s can sell quickly and buyer’s can save on their interest rates.
If you are considering listing your home for sale or buying a home give us a call we can help you navigate the specifics and we will handle the logistics! You can also reach us through the site CLICK HERE and we will be with your shortly.
*Keep in mind this is an overview of the market as a whole. There are always certain areas and price points that will move differently than others in our local market. For an overview of the local stats CLICK HERE.