The Finch Formerly Known As Gold

5 February 2005

Moving on up

Last year, says the Oklahoma City Metro Association of Realtors, 19,284 homes were sold in the metro area, the highest number anyone can remember, and up about 10 percent from the previous year. The average price was $125,860, up 6.6 percent; the median price (half cost more, half cost less) was $106,383, up 6.8 percent.

Nationwide, sales of new homes set a record high.

I'm not sure how long this will last — sooner or later, rising interest rates will start to show up in mortgage rates — but for now, it's one heck of a ride, and homes in my neighborhood are approaching $75 a square foot, a figure which would have seemed utterly implausible two years ago.

Posted at 3:18 AM to City Scene

That's incredible! We bought our house 2 1/2 years ago in Little Rock for about $53 per square foot. I can only hope the trend in Little Rock follows that of OKC.

Posted by: Nixon1971 at 8:52 AM on 5 February 2005

How much did you pay? I don't remember. (Per Sq. Ft.)

Posted by: ms7168 at 10:42 AM on 5 February 2005

$68 and change.

Posted by: CGHill at 10:46 AM on 5 February 2005

Hmmm . . I guess I really did buy just in time. 9-97 I paid $48. a sq. ft. for this place.
I re-fi'ed a year ago (from a 30 year FHA to a 15 year conventional mortgage with lower interest) and the requisite appraisal came back at around $70. per sq. ft. I didn't know whether to believe it or not :)

Posted by: ms7168 at 11:40 AM on 6 February 2005