Midtown Tulsa New and Newer Construction Market Report Zip 74114 – Year to Date October 2012
For the purpose of this market report, we are looking at homes ten years old or newer in midtown in zip 74114. There are currently 14 active properties, ranging in price from $359,000 to $1,975,000 – with the average list price of $816,264.
Two properties are under contract – one listed at $625,000 and another at $899,000. We won’t know what they sold for until they are closed.
Seven properties have successfully closed since January 1, 2012 – and with the two pending – that totals 9 properties sold during the year, or 0.75 homes sold per month. A quick absorption rate analysis tells us that the 14 active properties represent almost a 19 month inventory – so definitely a Buyer’s market in this price range, zip code and homes built since 2002. The average price per square foot of the homes sold is $152 and average days on market is slightly over one year.
This area of midtown Tulsa real estate is highly sought out because of its proximity to the Tulsa Riverparks, Utica Square shopping center, Philbrook Museum of Art and shopping and dining in both the Cherry Street and Brookside areas. It also provides a quick and easy commute to downtown Tulsa.
In addition to Tulsa Riverparks, other city parks enjoyed in this area include Veteran’s Park, Woodward Park, Swan Lake and Zink Park. And, the very revered Edison school district serves this area of midtown.
If you are searching for new or newer construction homes for sale in midtown Tulsa in zip 74114, please try this easy search on my web site! If you would like a custom search set up for you or see any homes you would like to view, please call me at 918-852-5036!
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