Midtown Tulsa Real Estate - Lori Cain

Midtown Tulsa New Construction Market Report - Year End 2011

Midtown Tulsa New Construction Market Report - Year End 2011 new construction

There is a need for new construction homes in midtown Tulsa and there is indeed a market for them. For the purpose of this market report, I am including single family homes built in the year 2000 and after.

Of the 32 active properties listed, the average price is $768,928 and five of the 32 are listed above one million dollars. Average square footage is 4,221. The single property under contract is listed for $998,000 and it was only on the market for 94 days.

Of the 36 properties that closed this year, the least expensive sold for $297,000 and the most expensive sold for $1,700,000. Average year built was 2007 and average square footage was 3,885.

2011 Midtown New Construction Market Report Year End

 

Midtown Tulsa New Construction Market Report - Year End 2011

I think builders who try to build to match the neighboring houses are most successful. You can't build a $500,000 home in a neighborhood with an average sales price of $175,000 - and expect it to sell. Often what we find in midtown new construction is that the newer homes are overbuilt for the neighborhood.

But many builders are successful at creating homes that fit within the architectural styles, character, size and style of existing homes in the neighborhoods. Those are the ones that will sell quickly and for top dollar.

The fact remains that while many want the location and many benefits of living in midtown Tulsa, they are leary of owning an older home.

During 2011, 36 homes built since the year 2000 successfully closed, one is pending and there are 32 active listings. Because we have almost as many active listings as were sold in 2011, we have almost a one-year inventory or supply. This is favorable news for Buyers who desire new and newer construction homes for sale in midtown Tulsa.

Midtown Tulsa is a great little corner of Tulsa! Call me if you are interested in purchasing new construction in midtown Tulsa, or start your search here!

Copyright 2011-2012 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain

_______________________________________________________________________________________________________

Let's Get Connected!

Lori Cain on Google Plus Lori Cain on Pinterestyou tube logoFacebook logoTwitter logoLinkedIn logoRSS logo


Please visit my web site if you are shopping for Tulsa homes for sale or call 918-852-5036 for more information about Midtown Tulsa Real Estate. In addition to my advanced grasp of the internet to market your Tulsa home for sale, I include a home staging consultation with every listing AND professional photography - at no aditional cost to you!

Lori is a residential Realtor with eXp Realty serving the greater Tulsa area and specializing in downtown Tulsa and midtown Tulsa real estate.

 Google Me

Comment balloon 2 commentsLori Cain • December 31 2011 07:52PM
Midtown Tulsa New Construction Market Report - Year End 2011
share
Midtown Tulsa New Construction Market Report - Year End 2011 There is a need for new construction homes in midtown Tulsa and there is indeed a market for them. For the purpose of this market report, I am including single family homes built in… more
Midtown Tulsa Luxury Homes Market Report Year End 2011
share
Midtown Tulsa Luxury Homes Market Report Year End 2011 This 2011 year end market report and absorption analysis is for midtown Tulsa luxury homes listed above $500, 000 Midtown boundaries in this report are Riverside to the west and… more
2011 Year End Market Report: Florence Park, midtown Tulsa real estate
share
2011 Year End Market Report: Florence Park, midtown Tulsa real estate Data shows balanced market! In 2011, 36 homes were sold in Florence Park - and as shown in the corresponding absorption study, that is 3 homes selling per month Four… more
My year (and special moments) in Tulsa real estate 2011
share
My year (and special moments) in Tulsa real estate 2011 My encounter with Shelley Cadamy should have prepared me for my memorable year in real estate. Shelley was relocating from OKC to Tulsa with three children, was starting a new job and… more
The Tulsa Grid - Easy Directions to find your way around in Tulsa
share
The Tulsa Grid - Easy Directions to find your way around in Tulsa Sure most of us have a GPS, but understanding Tulsa's grid will better help you find your way around in Tulsa. System of numbering : Main Street is the dividing line for… more
Midtown Tulsa Luxury Homes: New Construction Market Report, November…
share
Midtown Tulsa Luxury Homes: New Construction Market Report, November 2011 Midtown Tulsa luxury homes will always be in great demand, but more and more buyers are looking for a combination of historic influence/neighborhoods and the convenience of… more
Midtown Tulsa Luxury Homes Market Report Zip 74114, November 28, 2011…
share
Midtown Tulsa Luxury Homes Market Report Zip 74114, November 28, 2011 - steady movement Almost forty Tulsa luxury homes (over $500, 000) were sold in the midtown area in zip code 74114 to date in 2011 (November 28, 2011). Over seven properties… more
Tulsa Luxury Homes Market Report, Zip 74105: Inventory moving at…
share
Tulsa Luxury Homes Market Report, Zip 74105: Inventory moving at steady rate In the 74105 zip code, 29 Tulsa luxury homes have sold ranging in price from $525, 000 to 1. 7 million Price per square foot ranged from $93 to $244. Some of… more
Midtown Tulsa Boundaries
share
Midtown Tulsa Boundaries If you asked five Tulsa Realtors about our midtown Tulsa boundaries you might get five different answers. This Tulsa Realtor LIVES in midtown and I have very strong feelings about the boundaries of midtown Tulsa… more
Midtown Tulsa Luxury Homes Market Report October 29, 2011 - inventory…
share
Midtown Tulsa Luxury Homes Market Report October 29, 2011 - inventory is moving! For the purpose of this market report, midtown Tulsa boundaries are defined as the Arkansas River to the west; Harvard Avenue to the east; 11th Street to the… more