Sunset Terrace Market Report Shows Much Activity – Year to Date October 15 2012 – Midtown Tulsa Real Estate
As we’re nearing the end of the year, I’ll be preparing weekly market reports for midtown Tulsa neighborhoods such as Sunset Terrace, Maple Ridge, Swan Lake, Terwilleger Heights and more. If there is a specific midtown neighborhood for which you would like to see a market report, please let me know.
There are 34 active properties listed in Sunset Terrace, midtown Tulsa real estate – ranging in price from $165,000 to $1,800,000. Of the 34 properties, 20 are listed over half a million and three properties are listed over a million. Average price of those listed is $602,079 and average square footage is 3,536.
Four properties are currently under contract.
The 86 properties that have sold thus far in 2012 range from $122,000 to $2,250,000, with the average sales price of 410,813. Average sales price per square foot is $136 with $250 per square foot being the highest. AVERAGE days on market was a low 140, with several larger properties having been on market 1-2 years. So, the smaller, more affordable homes experienced a very short time on market.
Absorption Rate Analysis
Since the first of the year, 86 properties have sold and closed in Sunset Terrace which equates to over 8 properties selling each month. This means that the current inventory of 34 active properties represents a four month inventory.
Real estate trends in Sunset Terrace as well as other areas of midtown Tulsa offer very positive activity! Homes are selling and for great prices!!
Sunset Terrace in Midtown Tulsa – Market Report shows much activity!
In addition to providing a variety of architectural styles of historic homes, Sunset Terrace in midtown Tulsa is a desirable place to live due to its location. It is moments away from Tulsa’s River Parks, Philbrook Art Museum, Woodward Park, Veteran’s Park, Tulsa Historical Society and Utica Square Shopping Center.
If you are interested in shopping in Sunset Terrace or any other area of midtown Tulsa, please use the home search on my web site or call me at 918-852-5036!