Midtown Tulsa Luxury Homes Market Report Zip 74105 September 2013
Midtown Tulsa luxury homes are abundant in the zip code area 74105 where boundaries are Peoria to Harvard Avenues and 31st Street to 51st Street. This is the very southern end of midtown and includes the popular Brookside area, Ranch Acres, Mannburn Place, Village Grove and Bolewood, to name a few.
Whether buying or selling a midtown Tulsa luxury home, you’ll want to know how homes are selling in your area and your price range. An in-depth absorption rate analysis of this zip code shows an inventory of less than six months which means we are trending towards a Seller’s market!
For the purpose of this market report, midtown Tulsa luxury homes include single family residences listed at $500,000 and above.
There are 33 active properties ranging in price from $500,000 to $1,700,000, with an average list price of $810,784. Home sizes range from 2900 square feet to 7788 square feet. The most expensive home priced by square foot is located near Zink Park and is $362/square foot. Average price per square foot for this zip code is $180.
There are eight properties under contract at the time of this market report. The prices of these properties range from $557,900 to $1,290,000, with an average list price of $796,612. What is notable about these pending properties are the days on market. Three of the eight properties were on the market less than a week, and the pending property for $1.2 million was only on the market 92 days.
Midtown Tulsa Luxury Homes Market Report Zip 74105 September 2013 – trending towards Seller’s market
Of course, the closed properties tell the story of what the market is willing to bear. Year to date, 45 midtown Tulsa luxury homes in zip 74105 have closed, ranging in price from $499,000 to $2,686,500. In fact, seven properties over one million sold, and two properties over two million sold. Cumulative days on market was only 147 with 35 of those properties selling in their first six-month listing period.
The date of this market report is September 5, 2013, so we are less than 3/4 through the year. The 45 properties closed plus 8 properties under contract totals 53 – far more than the 33 active properties.
This represents an absorption rate analysis of almost seven homes selling each month and indicates a 5-month supply of inventory – an indication of trending towards a Seller’s market.
If you would like to know what your home is worth or how homes are selling in your neighborhood, please give me a call. If you are ready to shop for midtown Tulsa luxury homes, please visit my web site!