It is a Great Time to Sell Your Tulsa Metro Area House – Here’s Why

Wow, wrapping up 2021 and we are still in a very big seller’s market.  The benefits of today’s sellers’ market are something homeowners are starting to realize.  We have experienced record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates; all these factors are motivating homeowners to address their changing lifestyles and make a move, specifically in Tulsa.

Looking at recent data from realtor.com shows a larger share of homeowners are planning to put their homes on the market this winter. So, what does that mean for Oklahomans? It means that more homes are likely to hit the market, which will also provide more choices for buyers. 

According to George Ratiu, Manager of Economic Research at realtor.com:

“The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.

Selling in the winter puts you one step ahead of neighbors who might be thinking of waiting until the spring.   The winter market helps you stand out from the crowd and is a great time to make your house available for buyers.  Here’s why.

Sellers Are Still Firmly in the Driver’s Seat

Historically, a 6-month supply of homes for sale is needed for a normal or neutral market. That level ensures there are enough homes available for active buyers (see graph below):

The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows the inventory of houses for sale sits at a 2.4-month supply. This is well below a neutral market. Here in the Tulsa Metro we are at even less than that with 2.05 months supply of inventory.  

What Does That Mean for You?

It’s much harder for buyers to find homes to purchase when the supply of homes for sale is as low as it is today here in Tulsa County and Creek County. This drives up competition among buyers, who then submit increasingly competitive offers to win out against others in the home search process. As this happens, prices rise and your leverage as a seller rises too, putting you in the best position to negotiate a contract that meets your ideal terms. Just last week I had a home go under contract for $25,000 above list price in Bixby, Oklahoma 74008.  The terms were very favorable to the seller.  

And certainly, the housing supply issue won’t be solved overnight, but it could be the savvy choice for sellers South of 121st in Bixby Oklahoma 74008, Jenks Oklahoma 74037, Mounds Oklahoma 74047, Kiefer Oklahoma 74041, Sapulpa Oklahoma 74066, Glenpool Oklahoma 74033, and Tulsa Oklahoma to maximize their potential and sell this season.  As the data shows, with more prospective sellers planning to list their homes this winter, selling sooner rather than later helps your house rise to the top of a winter buyer’s wish list so you can close the best possible deal.

Bottom Line

Listing your home over the next few weeks gives you the best chance to be in front of buyers competing for homes this holiday season. Let’s connect today to discuss how you can benefit from today’s sellers’ market. Reach out to me Sabrina Shaw, here at Homes by Sabrina, as we are always here to guide and serve you. 918-637-7826.

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