Home Prices Increase in June

A decrease in the number of homes coming on the market and continued good buyer demand combined to cause home prices to increase again in June, according to Greater Tulsa Association of Realtors President, Ron Sumner.
The average sales price of $163,521 for sold homes in the Metropolitan area during June rose from $161,484 in May and $150,178 in June 2006.
At the same time, the median sales price of $132,000 in June was up 1.2 percent over the previous month, and 5.7 percent above June 2006. The total volume sold year-to-date, $1.01 billion) is up 2.8 percent above the first six months of 2006 when the figure reached $989.9 million.
The number of homes coming on the market in June was down 7.4 percent compared to May and 10.6 percent when compared to June 2006. Both the monthly inventory of homes, which was off 3.3 percent, and the number of current listings, was down from the same period a year ago.



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