Claremore and Owasso enjoy close proximity to Tulsa, which is good for cultural opportunities and jobs, but the towns may experience some fallout from the current economic uncertainty. Local Realtors say the towns are growing nonetheless.
Claremore
"Located approximately 25 miles northeast of Tulsa, OK., Claremore is one of the fastest growing communities in Oklahoma and is the home of Will Rogers," says Realtor C.D. Byers. "The Claremore and greater Rogers County market remains stable with continued low interest rates sustaining the local market activity. However, the war in Iraq and the uncertainty regarding the future of American Airlines (which employs approx. 9,000 in the Tulsa area) may have impacted the housing numbers for first quarter of 2003. MLS statistics show number of unit sales down approximately 4 percent and the average sales price for the first quarter down approximately 9 percent compared to first quarter 2002. It continues to be a buyer's market above $150,000."
But there's reason to believe home sales will improve.
"Northeast Oklahoma is a growing community," explains Realtor Roseann McCaw. "Claremore is a town of education with a four-year college, the Will Rogers Museum, the world's largest gun museum, and new motels, restaurants and businesses."
Owasso
"Owasso has enjoyed continued growth through the years with a current population over 19,000," says Realtor Margaret Bannochie. "Both residential and retail segments continue to grow. Owasso's close proximity to the city of Tulsa and the Tulsa international Airport makes it convenient to live in a close-knit community and be able to work in Tulsa and enjoy its many cultural offerings."
She explains, "Statistics for home sales in Owasso show that in First Qtr. 2003 the average sales price was $148,854, a slight increase over the $144,215 for the same period in 2002. The number of homes sold in First Qtr. 2003 was 136, a substantial increase over the 108 sold in the same period in 2002. The number of days on the market remained virtually unchanged from 66 days in 2002 to 65 days in 2003. Strongest sales (approx. 64-65 percent ) were reported in the $150,000 and below range in both periods. The ratio of luxury home sales remained stable. I anticipate that sales in 2003 will remain stable, 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."
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Published: June 24, 2003
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