MARKET DATA FOR BROKEN ARROW.

I will be posting once a month for Southern Belle Properties the market data for Broken Arrow. You ask what is the market data well it is the trend based on recent transactions that have occurred in the 74012 area code. I will be hosting a live video feed to my Facebook page and uploading that video to my Youtube Channel. If you prefer to watch rather than read be sure to tune in on Fridays around 11 am.

https://www.facebook.com/donnieweddle/?view_public_for=1923886384492439

https://www.youtube.com/channel/UCzeqC4LzzwBgNL87z4CAVMg?view_as=public

This months report shows that inventory is still at almost an all time low. We are still considering this market to be what is known as a sellers market. That doesn’t mean that the savey buyer who has an agent that is a good negotiator can’t wind up with a good deal these days. This months report also indicates that the days on market are going up. This tells me that some of the more tenured listings may have to be reviewed for price reductions as many of them are becoming stale. Data shows that the newer listings are where we are actually seeing the movement.

It is expected the experienced investors in the area will continue looking for the good deals, many are stock piling cash looking for a downward turn in the market. Current market indicators show no signs of this however. Again check out live broadcast weekly for news topics on real estate.

The report is furnished by Michael Lewis, they use a company called Altos for the report information.

Tue Jul 31 2018
This week the median list price for Broken Arrow, OK 74012 is $220,000 with the market action index hovering around 35. This is an increase over last month’s market action index of 34. Inventory has held steady at or around 282.

Market Action Index

The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

100035

Slight Seller’s Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Median List Price	Created with Highcharts 4.2.7	$220,000
Per Square Foot	Created with Highcharts 4.2.7	$94
Days on Market	Created with Highcharts 4.2.7	105
Price Decreased	Created with Highcharts 4.2.7	42%
Price Increased	Created with Highcharts 4.2.7	4%
Relisted	Created with Highcharts 4.2.7	11%
Inventory	Created with Highcharts 4.2.7	282
Median House Rent	Created with Highcharts 4.2.7	$1,210
Most Expensive		$1,485,000
Least Expensive		$44,000