Florence Park Market Snapshot September 27, 2011: Midtown Tulsa Real Estate – Activity & Value Remain Steady

Florence Park Market Snapshot September 27, 2011: Midtown Tulsa Real Estate – Activity & Value Remain Steady

Since the first of the year, 27 properties have closed in Florence Park, ranging in price from  $81,000 to $290,000, with the average price of $187,885. Two homes sold for $140 and $147 per square foot and several sold above $120 per square foot. Including homes in disrepair, the average price per square foot of homes sold in Florence Park is $111.

There are five properties in Florence Park under contract at this time.

There are 27 properties for sale in Florence Park at this moment, so that’s a little less than a year’s inventory. Since 27 properties have closed this year and five more are under contract, that means 32 will have closed by October – not bad activity.

Of the 27 properties listed, they range in price from $115,000 to $324,500, with the average sales price of $205,781.

Compared to the same time period in 2010, we appear to be holding steady. By September 27, 2010, 28 properties had closed and six properties were pending. The average sales price in 2010 was $178,714, so it appears that home values are on the rise, although price per square foot has remained the same.

Florence Park Market Snapshot September 27, 2011: Midtown Tulsa Real Estate – Activity & Value Remain Steady

Florence Park is one of the more established and revered areas of midtown Tulsa, filled with a variety of architectural styles and known best for their gingerbread bungalows.  Considered a quaint neighborhood, Florence Park includes two parks owned and operated by the City of Tulsa: Platt Park and Florence Park, where you’ll find tennis courts, picnic benches, playground facilities and water features.

Neighbors walk their dogs along the sidewalks, enjoying the shade from the mature oak trees and enjoy the meticulously kept lawns and landscaping. The smaller midtown properties attract students, young professionals and couples downsizing.

Florence Park boundaries are 15th Street to the north, 21st Street to the south, Harvard to the east and the BA Expressway to the west. Florence Park has an active neighborhood association and meets regularly to discuss neighborhood issues.

Known to many as “the heart of midtown,” Florence Park is walking distance to the University of Tulsa, Cherry Street, and Utica Square Shopping Centre.

And, welcome Misty and Brian to Florence Park – they just closed on their beautiful home at 17th & Delaware yesterday!!!!