Winter Weather Slows January Home Sales

Snow and ice during the months of December and January combined to slow January home sales, according to Greater Tulsa Association of Realtors President, Ron Sumner.
January showed an increase listings processed in listings processed (+40.6%), monthly inventory (+1.4%), active listings (+1.0%), and pending contracts (+29.8%). However, as is common in during the month, residential closings (-29.6%), average sales price (-6.9%), and median sales price (-3.9%), fell slightly.
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The affect of the unfavorable winter weather is reflected most when comparing January 2007 to the same month in 2006. Categories affected least were monthly inventory (-4.7%), active listings (-2.1%), average sales price (-1.9%), and median sales price (-3.6%)—all down slightly. Areas affected the most were listings processed (-16.0%), pending contracts (-14.3%), residential closings (-9.7%), and total volume (-11.4%) all noticeably less than a year ago.
The statistics are based on residential properties in the Tulsa MSA. The Tulsa MSA currently includes seven counties: Tulsa, Creek, Osage, Rogers, Pawnee, Okmulgee, and Wagoner.



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