Surrounded by a number of small communities, Oklahoma City has shown steady growth since the early 1980s and local Realtors claim a more diversified, less oil-dependent economy is making the city a more attractive place to live.
"Since the downturn created by the drop in the oil market in the early 80's," says Realtor Joe Pryor, "Oklahoma has reoriented itself to a more diversified economy.'
Pryor explains, "While we have not experienced spectacular growth, we have not had the drama of market downturns. Our yearly increases in residential value has been from 1 percent to 5 percent with last year averaging 3.7 percent. These predictable increases, in conjunction with reasonable home prices and taxes, plus low interest rates have given us a robust market for owner occupants, as well as one of the best markets in the United States for investment properties. Recent trends in new home sales show an upward bias to pricing and a change to a seller's market. It has been common recently for new homes in the $150K to $200K range to sell in the framing stages. Existing homes, especially those below $100K have been taking multiple offers and selling within two weeks. With this early surge, plus a lack of new homes available, it would be the perfect time for existing home owners to list and sell."
Says Realtor Kay Hair, "South Oklahoma City is the best kept secret in the greater Oklahoma City area. Great homes abound at reasonable prices. Price ranges vary from low to high. Many subdivisions boast gated communities with executive-style homes. Much of South Oklahoma City is in the Moore school district. Both existing and brand new homes are available. New homes usually start in the $120,000 range and go up as far as $1,000,000."
Say Realtors with the Nevius Team, "The Oklahoma City metro area is surrounded by many small suburban communities such as Edmond, Deer Creek, Piedmont, Yukon, Mustang, Moore, Norman, Midwest City, Del City, Arcadia, Guthrie and many more. All of these areas are an easy commute to Oklahoma City. These are the many sleepy little towns that give you that small hometown feeling. The Oklahoma City are is a great place to live, work, shop and send your children to school. We have the best of all worlds and this is simply a great place to live!"
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Published: May 7, 2003
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