ResalesTulsa Housing Sales Rise In Response To Low Interest Rates
Tulsa, Oklahoma has become a thriving city by diversifying its economy from oil to technology, telecommunications and aerospace, creating jobs and great opportunities for homebuyers, say local Realtors.
"Tulsa is a thriving medium-sized city of approximately 400,000 and the greater metropolitan area has a total population of 800,000," says Realtor Margaret Bannochie. "Tulsa is a cosmopolitan city with a small town flavor, a friendly and welcoming community."
Bannochie continues, "From the earliest days of the city, Tulsans have encouraged the fine arts. That"s why today we have the nationally recognized Tulsa Ballet, Tulsa Opera, Philbrook and Gilcrease Museums, an orchestra and numerous theater groups. There is also an outstanding zoo much loved by local families. Sports enthusiasts abound! Running, biking, ice hockey, baseball, soccer and golf are all really popular. Southern Hills golf course is nationally acclaimed and hosted the PGA"s US Open in 2001 and will host the PGA"s Championship Tournament in 2007. Tulsa is also a mecca for boating and water sport enthusiasts as we have many lakes in easy driving distance. Overall, Tulsa is a great place to live and raise a family!"
About the market, Bannochie advises, "In Tulsa the number of sales was up just under 5 percent in 2003 over the 2002 figures and the average sales price increased by 6 percent. Average days on the market was similar increasing from 54 days in 2002 to 58 days in 2003. Figures for the 4th quarter of 2003 show slightly higher percentages for both number of sales and average price. This shows that the year finished out strongly. The number of sales was impacted by the low interest rates - this helped to offset the economic downturn of the past year. Sales in 2004 should continue to be steady provided the interest rates do not rise substantially."
"Tulsa is a great place to live," enthuses Realtor Richard Kerlin. "Built on the banks of the Arkansas River in northeastern Oklahoma, Tulsa once boasted the distinction as the "Oil Capital of the World," and in the past decade has diversified its economy to support a thriving population of 800,000. Tulsa is a very livable city with a favorable cost-of-living ratio, and has a rich cultural history that is evident in its architecture, support of the arts, and abundance of entertainment and recreational venues."
"Tulsa and surrounding areas are seeing an influx of homes on the market," say Realtors with the Briggs Team. "This is due to record low interest rates spurring the transition in our area. The largest push in our market is in new construction, especially in Bixby and Owasso, but this in turn is increasing our time on market for our resale homes. Although the great interest rates are starting to climb ever so slightly, now is a perfect time for a move, either moving up or down sizing."
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