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 51st Street to the south.
In 2011, 81 midtown Tulsa luxury homes sold, with an average of 6.75 homes selling per month. The highest priced home sold for $1,700,000 and eleven homes sold for one million or more. Many properties sold in a timely manner; however the CUMULATIVE days on market for this broad group is 178.
There are currently 67 midtown Tulsa luxury homes for sale ($500,000 and above). Because homes are selling at a rate of 6.75 per month in this geographic area and price range, this reflects almost a ten-month inventory or supply. A six-months supply reflects a balanced market, so this data indicates somewhat more of a buyers’ market in this price range.
Relocation to midtown Tulsa can be a breeze because midtown Tulsa real estate is very condensed within a few square miles. When shopping for homes for sale in midtown Tulsa, I’m happy to give you a tour of our parks, art galleries, farmer’s market and midtown shopping areas! Whether you are down-sizing, upgrading or buying your first home, midtown Tulsa may be where you find your perfect Tulsa luxury home!
It’s good news to see this much movement in this price range. If you are interested in purchasing a midtown Tulsa luxury home, now is a good time to shop while interest rates are low. And, if you are selling a midtown Tulsa luxury home, let me assure you that those that are “move-in ready” are the ones being chosen by home buyers.
Midtown Tulsa is a great little corner of Tulsa where we enjoy multiple parks, varied architectural styles, as well as extraordinary shopping and dining at Utica Square, Cherry Street and Brookside. If you’re interested in buying or selling a midtown Tulsa luxury home, do please give me a call or start your search here!