Comparing 2nd Qtr. 2009 with 1st Qtr. 2009, the average sales price showed an increase of 2%. The average sales price was 7% less than in the 2nd Qtr. 2008. Sales volume was up 44% for the period with 1235 sales in the 2nd Qtr. 2009 compared to 856 for the 1st Qtr. 2009. Number of homes sold was almost identical to the 2nd Qtr. 2008. Days on the market dropped by 5% compared to the 1st Qtr. and were identical to the same period in 2008.
Interest rates are now at a low level of about 5.5%. We expect to see many Buyers taking advantage of these low rates. It will be important for Buyers to have good credit scores and to have some financial reserves. Tulsa should also benefit from the $8,000 income tax rebate for first-time buyers.
Location Characteristics: Recent national recognition has given Tulsa a reputation for being one of "America's Most Livable Communities," (2004 Partners for Livable Communities, Washington D.C.) and in 2006, ranked #6 on Forbes.com list, "Best Cities for Jobs."
Today, citizens in our region enjoy unsurpassed beauty, a well-educated and talented workforce, cultural diversity and a pro-business environment. Tulsa has the second shortest commute time in the nation, we rank 15th in the nation for the highest rate of high school graduation and our cost of living is 8.6 percent below the national average while our county per capita income is 16 percent above the national average.
About Margaret Bannochie:
Margaret Bannochie of the Bannochie Team has been a Realtor in the Tulsa area for 25 years. Margaret's team offers superior client service in all aspects of their real estate business.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
