ApproachBuilders Blog
As a locally owned and operated business, we know that community is at the heart of everything we do -- and that there are many stories in the community worth sharing. Our Builder's Blog is a way for us to share that. From local events and up-and-coming communities to good, old fashioned-family recipes and home builder tips and trends that will take your home-ownership game to the next level!
Tulsa Housing Market Update - July 2024
July 15, 2024
Affordability and availability are two of the biggest factors driving the housing market. Unlike some other cities in Oklahoma, Tulsa has a very distinct housing market. Due to a steady job market and commercial development, Tulsa is becoming more and more of an attractive vibrant place to live.
Trends:
Tulsa's promising market, steady growth and affordability are quite attractive to homebuyers and investors. The median listing price as of April 2024 was $289k, reflecting a 5.1% increase over last year. Good news for buyers is the sale-to-list price ratio sits at 99.74%. Which means these homes are closing very close to the sellers asking price.
Compared to the national average, Tulsa continues to remain budget-conscious for buyers. The median sold price of $242k sits below the national average. Which means the hope of owning a home is within reach.
So what does all of this mean?
With rising prices and a balanced marker, it's still good to act sooner than later. The affordability factor still remains a positive aspect. The market also reflects that if you are ready to sell your home, that now is still a good time to do so.
Continuous Growth
In the past 10 years, we have seen major appreciation in Oklahoma. The housing market has consistently shown resilience and upward momentum, with property values steadily increasing. This continuous growth is fueled by a combination of factors, including economic stability, job opportunities, and a high quality of life that attracts new residents.
With ongoing infrastructure improvements and community developments, the state's real estate market is poised for even more growth in the coming years. This sustained appreciation not only benefits current homeowners but also presents a promising opportunity for new buyers and investors looking to tap into a thriving market.
Interested in houses in the Tulsa Metro? We currently have communities in Tulsa, Bixby, Sand Springs, Broken Arrow and Owasso. To find out more, schedule an appointment or look over our floor plan list. Visit us at capitalhomes.com
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