Smaller towns around the major hub of Tulsa, Oklahoma have plenty to offer residents including a university and relaxed country living. Homes are increasing in value and don't tend to linger on the market very long, say local Realtors.
Owasso
"In the past decade Owasso has been experiencing rapid growth," says Realtor C.D. Byers. "It is known as one of the fastest growing cities in the state of Oklahoma. Owasso is located approximately five miles north of Tulsa off of Highway 169, and east of Highway 75 North. In the year 2000, Owasso became home to more than 18,500 residents and serves an immediate market area comprised of 45,000 Oklahomans."
Byers explains, "Owasso continues to be one of the state's fastest growing communities and the local MLS statistics support this notion. MLS statistics show 1044 closed sales for 2002 for Owasso and the outlying communities of Collinsville and Skiatook. This represented a 3.7 percent increase compared to the previous year. The average sale price for 2002 was $135,204, which was virtually unchanged from 2001. The average DOM (days on market) was 67 days."
Broken Arrow
"Broken Arrow is a city adjacent to Tulsa, therefore, it has the best of both worlds with a small town atmosphere and all the big city amenities," says Realtor Margaret Bannochie. "Broken Arrow also boasts a proven track record of public safety and some of the finest schools in the state. Broken Arrow residents also enjoy numerous parks and recreational facilities. Area shopping centers allow residents to find what they need without fighting big-city traffic. Broken Arrow is also home to the branch campus of Northeastern State University."
She explains, "Statistics for Broken Arrow home sales in 2001 show an average home sale price of $132,408 with homes spending an average of 56 days on the market. In 2002 the average home sales price increased approximately 3 percent to $136,193 while the average number of days on the market remained the same. According to the Tulsa Metropolitan area statistics, sales of homes in 2002 were strong, maintaining the high level achieved in 2001. Strongest sales were reported in the $150,000 and below range, spurred by the extremely low interest rates. Luxury home sales showed a modest decline and prices have softened. I anticipate that sales in 2003 will remain strong provided interest rates remain attractive. How the luxury market will respond will depend on the state of the overall economy and the Tulsa employment market."
Jenks
"Jenks is a charming city in a peaceful country setting," says Bannochie. "The neighborhoods in Jenks are near Interstate 75 and the Creek Turnpike with quick access to the Tulsa area."
Bannochie says, "The average sales price on homes in the city of Jenks was $143,582 in 2001 with an average of 64 days on the market. In 2002 the number of days on the market remained unchanged, and the average sales price went up approximately 2 percent to $146,158."
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Published: January 23, 2003
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