The average per square foot cost of a home in Tulsa, OK was around $90, which reflects an increase of a bit more than 2% in comparison to the same time the year prior. The average sales price for Tulsa homes for July through October 2014 was about $144,000 for a total of 652 homes that sold. There was a median sales price decrease of 1.4% as well as a decrease in the number of home sales of about 44%. Resale and new home listings are around 2,437 in the inventory count for Tulsa. This count includes approximately 913 pre-foreclosed homes and 21 open houses. List prices in Tulsa averaged about $204,187 for the first week of October, which is reflective of an 8.9% increase in comparison to the previous week. The most sought-after neighborhoods in Tulsa are Lynn Lane and Maple Ridge, and these areas show an average listing price of $170,202 and $411,300.
The Multi-Family and Retail Properties
The market trends in Tulsa reflect an increase of approximately 7% in the mid-range asking price for each unit of multi-family homes compared to the previous 3 months. There is also a reflection of nearly a 6% increase compared to the prices of the year before. The county asking prices for these properties are almost 2% more per home in comparison to the current midpoint price of $38,430 per home in the Tulsa area. The current market for retail property shows an incline of almost 3% in the midpoint price per sq. ft. in comparison to the previous 3 months which generates an increase of 2% when compared to prices the same time last year. The county span price margin for retail commercial listings is approximately .2% more compared to the midpoint price currently at $119 per sq. ft. in Tulsa, OK.
Rental Rates in Tulsa
The annual average per sq. ft. for office spaces in Tulsa during the month of August 2014 is listed at $13.12. This figure reflects an incline of about .7% in comparison to the previous 3 months and an increase of more than 2% from year to year. The county span rental amounts average an increase of .7% at a per sq. ft. annual price of $13.20. Most office spaces for rent in Tulsa are in the business district and allows for a bit more option and value.