| CHE Property Values |
|
HOW IS THE REAL ESTATE MARKET?
Everyone wants to know. Especially this year
given the negative reports we all hear in the
daily news. Richard and
Patty Taylor with
McGraw Realtors provide us with the
answer here in this annual CHE Property Value
Review. Richard and Patty are long time
residents in our neighborhood and have
personally listed or sold over 300 homes in
Chimney Hills Estates.
They have furnished the following statistics from the Tulsa Multiple Listing Service regarding Chimney Hills Estates (Percentages in parentheses are changes compared to the previous year): |
| Indicator | 2007 | 2006 | 2005 | 2004 | |
| Average Sales Price: |
$182,847 (+5.7%) |
$172,949
(+4.6%) |
$165,278 (-4.5%) |
$173,205 | |
| Highest Sales Price: |
$257,000 (+8.4%) |
$237,000
(+2.3%) |
$231,500 (+16%) |
$199,500 | |
| Lowest Sales Price: |
$122,000 (-2.2%) |
$124,750
(-0.2%) |
$125,000 (-8.7%) |
$137,000 | |
| Average Price/Sq. Ft.: |
$68 (+3.0%) |
$66
(+4.7%) |
$63
(+1.6%) |
$62 | |
| Highest Price/Sg. Ft.: | $83
(+7.8%) |
$77
(+6.9%) |
$72
(+1.4%) |
$71 | |
| Lowest Price/Sq. Ft.: | $53
(+6.0%) |
$50
(-3.8%) |
$52
(-3.7%) |
$54 | |
|
2007 was another active year for home sales in
Chimney Hills Estates. Thirty Three (33) homes
sold which is up 2 over 2006 and the average
price increased 5.7%. Our average price change
is slightly better than the Union School
District as a whole which was up 4.5%, as well
as Metro Tulsa sales which were up 5.3%. Bottom
line for Chimney Hills Estates is that our
neighborhood is still a desirable place to live
and we have remained competitive with other
neighborhoods of the same age group. The outlook for 2008 home sales is favorable. Interest rates are presently below 6% and are hovering just above 40 year lows. Rates are expected to increase only slightly as the year progresses. Employment in Tulsa is positive and the number of homes on the market is normal. These factors bode well for home sales.
|
|||||