Sales prices and values continue to increase in Florence Park – midtown Tulsa real estate
Florence Park boundaries are 15th Street to the north, 21st Street to the south, the BA Expressway to the west and Harvard to the east.
As of this date, December 14, 2015, there are 7 active listings in Florence Park ranging from $164,900 to $280,000 list price.
Six properties are pending in Florence Park with an average days on market of 31 – although two listings were sold in 5 days on market.
The 43 properties sold in 2015 to date range in sales price from $100,000 to $349,000 with an AVERAGE sales price of $196,784. Average days on market are 63, although 20 properties sold within the first month.
Average sales price per square foot of properties closed is $125, however some of the premium properties sold for $140-$166 per square foot. As we have seen trending, three properties sold for over $300,000 which makes this eastern midtown Tulsa neighborhood one that is ever-increasing in value.
Assuming the six pending properties close before year end, that would equal 49 closed properties in Florence Park for 2015. That equals 4 properties selling per month, so when we evaluate the absorption rate of this midtown neighborhood, we can assume that the low inventory of 7 properties for sale represents less than a 2-month inventory. This makes Florence Park a SELLER’S MARKET.
The lot sizes in Florence Park are usually 7,000 square feet (or 50-feet by 130-feet). Many homes are two bedroom, 1 bath, 1 car garage; however homeowners are adding square footage by renovating attic space or building additions towards the back of the home. Average square footage of homes sold is 1,579 – with 3 bedrooms, 1 bath and a 1-car garage. Homes in Florence Park with TWO bathrooms and a 2-car garage will sell quickly.
2015 Florence Park Market Report – Midtown Tulsa Real Estate
A truly inviting and coveted midtown Tulsa neighborhood, Florence Park is established as one of midtown’s favorite areas. Two parks are within the half square mile – Pratt Park and Florence Park – including a playground areas for the kids, picnic tables, water features and tennis courts.
Florence Park has a well organized voluntary home owner’s association with much participation, active membership and a web site for residents only. Area home owners landscape meticulously, walk their pups down the sidewalks and sit outside on their covered porches.
Architectural styles abound in Florence Park – from English Tudor to colonial to Mediterranean – you’ll find diverse and stunning character here. You will fall in love with the many gingerbread bungalows.
Florence Park is just a half-mile south of the University of Tulsa and a short distance to Utica Square and Cherry Street dining and entertainment.
The cozy midtown Tulsa properties attract students, young professionals and couples downsizing.
It’s a great little corner of midtown Tulsa. Call me if you are interested in selling your midtown Tulsa home for sale – or visit my web site to shop for homes in Florence Park! 918-852-5036
Content written and published by Lori Cain.