Real Estate Year End Review 2013

Hi! I’m Jennie with The Wolek Group at Keller Williams Realty in Tulsa, OK.

It is December 2013! What a great year and it seems to have just flown by. We wanted to review the past year with you and share the Tulsa real estate market statistics.

As we look back, we had an interesting year with many little “shifts” along the way. The spring market was crazy busy with low inventory and low interest rates. Because of this we saw good homes sell fast and close to their listing price. We even had listings with multiple offers! Then the heat of the summer kicked in and the market seemed to slow down a bit, school started then the government decided to shut down. It was definitely shifty year.

Overall though, a good real estate year. The average sale price went up to $157,673 and the list to sale price went up to 96.63%. This means that sellers had to negotiate about 3% off of their listing price to get their home sold.

The average days on market decreased by over 7% to just 55.46 days. The months’ supply of inventory, or the absorption rate, went down to around 8 months. This means that it will take 8 months for all of the active listings to sell, if no new ones came on the market.

Overall, our closed and pending sales were up around 10% while we are still feeling a squeeze on our active inventory. Over the last year the new listings inventory is down 3.38% and over the last 2 year it is down 3.07%. As the inventory remains low, buyers have fewer good homes to choose from and homes will sell fast when they are priced right for the current market and are in good condition. Buyers will see their value and act quickly.

So, what does all this mean? Basically if you are even thinking about selling your home in the next year, let’s talk sooner than later and get our sign in your front yard. Most sellers are thinking that they should wait until spring to list. Why wait and have all of that competition when you can get sold before then for closer to your listing price? Home affordability is still historically low, so let’s help you take advantage of the market now and get you moved!

Connect with us today, we are all in the office working hard to help our buyers and sellers with all of their real estate needs.

The Wolek Group Testimonials

Click to hear recent
testimonials from happy clients

Anita - "They were able to sell my home quickly because of all their marketing efforts and I truly think that is very important."

Larry - "The Wolek Group exceeded my expectations in every area! They were prompt, personable, and had great knowledge of the real estate market. The entire experience was really good and they exceeded in every area!"

Stewart - "The Wolek Group was very responsive and professional. They got any documentation that I needed very quickly and as a first time home buyer, I really appreciated them answering all of my questions and walking me through the process."

Jeff - "We had really great results with the Wolek Group and they were incredibly helpful. We were in Texas and our Realtor would go look at houses we’d ask her about and send us pictures so we could get a better idea of the home. When we did meet up with here, it was a smaller list that we already weeded out. She bent over backwards to do stuff for us and I couldn’t thank her enough!"

Anonymous - "There was a little confusion with our buyer and where he was from with him being in California, not Tulsa but The Wolek group was very diligent about getting all the paperwork back and forth and we got the house sold."

Kathy - "My house sold in less than 2 months and Jennie Wolek was absolutely fabulous! They really got on it! We got it listed and all the papers signed and that day, if not that afternoon she came over and just started getting everything set up. They got the word out, all the fliers out, it was listed with all their Realtors, and got it all over the internet. They had a photographer come out and take pictures and got it up on The Wolek Group website, and the fliers in front of our house. It was great!"

Ken - "We’ve worked with a bunch of Realtors and The Wolek Group is the most professional group we’ve ever used. We never had to wonder what was going on because they communicated and coached us through various challenges the buyers presented. Everything was done in a timely fashion and they were always available. The way they acted was that there was nothing that they weren’t supposed to do, everything was a part of the job and if we requested it, they did it no matter what it was."

Ruth - "I had been looking for 6 months and I couldn’t make up my mind. They actually convinced the other Realtor to let me back in for the 4th time so I could look at the property again. They did a great job and they even contributed to my favorite charity which I have never heard of! They just do an excellent job!"

Sally - "They were really a wonderful team. We had 2 offers within 4 days of putting our house on the market! Everyone on their team was very professional and really used social media in order to reach a broad spectrum of the community. Any questions we had, they got right back to us and they were just helpful in every way. It was the best selling experience we’ve ever had!"

Matt - "My house went on the market about mid-June and I had a 97% offer of my asking price within a couple of days. We were expected to close mid-August but the buyers were doing their underwriting through the VA and after about 3 weeks of yanking their chain and our chain, they denied them the house. The buyers still wanted my house so The Wolek Group actually got them connected to another underwriter and were able to ensure the house closed within 14 days. It was a very positive experience and we really appreciated them stepping up and getting that done for me. "

Gayle -"We sold our house in 13 days! It seemed like they stayed in touch with us constantly! They were great about answering questions quickly. If we had any problems with the house, they sent a repairman over quickly to get it taken care of. It was just a good experience, all the way around!"

Matt -"We sold our house! They handled everything well. They did their job, and they did it good!"