Tulsa Area Residential Listings Up, Prices Down

The average sales price of homes in the Tulsa region fell 2.77 percent in October, according to statistics released recently by the Greater Tulsa Association of Realtors.

With 11,686 residential closings through October of 2006, home sales remain ahead of 2005s record pace when 11,195 were sold in the first ten months of the year.

The total value sold through October of this year has also surpassed that of 2005 as $1.7 billon has passed through the residential market, compared to $1.5 billion in 2005, an increase of 8.8 percent. The average sales price of $142,138 remains 2.77 percent below prices fetched in September, but remaining above the $138,739 paid, on average, for each house in October of 2005.

The Realtors Association credits the drop to “typical seasonal cooling.”

The statistics are based on the Northeast Oklahoma Real Estate Services multiple listing data service. The Tulsa Metropolitan Statistical Area includes Tulsa, Creek, Osage, Rogers, Pawnee, Okmulgee, and Wagoner counties.

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