Swan Lake is a historic neighborhood in midtown Tulsa, known for its charming lake filled with swans, of course! Its boundaries are 15th Street to the north and 21st Street to the south; western border is Peoria Avenue and eastern border is Utica Avenue. Swan Lake was placed on the National Register of Historic Places in 1998 and has the added protection of being a historic preservation zoning district.
Since the first of the year, five properties have closed in Swan Lake and 4 properties are pending. There are six properties currently for sale ranging in price from $324,400 to $615,000.
The five sold properties ranged in price from $100,000 to $250,000, with the lowest priced property in disrepair. All homes sold in just a few days on market, with the highest selling property going for $147 per square foot.
Of the four pending properties, the prices range from $164,500 to $329,500. With the exception of one, all properties sold in just a few days on market. We won’t know the amount for which they sold until the properties close, but the home priced the highest is $175/square foot.
The absorption rate analysis for the Swan Lake neighborhood is two homes selling per month. The pending properties should be closed by the end of May, so that will be a total of nine properties sold since January 1, 2014 – or 2 properties per month. Therefore current inventory represents a 3-month supply which represents a Seller’s market.
Swan Lake is a centrally-located neighborhood. It is across the street from St. John’s Medical Center and just another block further from Utica Square shopping center. It is close to Cherry Street dining, entertainment and farmer’s market. It’s also close to Tulsa’s beloved Woodward Park. And it’s less than two miles from Tulsa’s Riverparks. So, the location is perfect in many ways.
There is some newer construction in Swan Lake. Two of the pending properties were built in 1984 and 1994. One active property is new this year and is expected to be completed in July 2014. It will be interesting to see how well this builder’s Craftsman style new construction matches the older ones.
Children in this neighborhood may attend Lee Elementary and Edison Preparatory School.
If you are interested in shopping for homes in Swan Lake in midtown Tulsa, do give me a call to set up a custom search for you! If you are interested in selling a home, please visit my web site to learn more about our home selling team! 918-852-5036
Content written and published by Lori Cain.
