Every three months, Linda and I prepare quarterly market updates for some of the older neighborhoods we practice in. Since not everyone in those neighborhoods gets the update, we thought we would make them available to a wider audience. To start with, we picked one of our favorite neighborhoods: Linwood, an urban conservation district neighborhood.
For those of you who don’t know where that is, Linwood Place lies west of Drexel Boulevard and east of I-44; north of NW 16th and south of NW 23rd in Oklahoma City.
Enjoy.
Quarterly Market Update – Linwood Place
For Period Beginning October 1 and Ending December 31, 2011
(Data courtesy of MLS Gateway. Information is believed to be accurate but is not guaranteed. Not intended to solicit currently listed properties)
| Active – 9 Properties | |||||||
|
Sq Feet |
Bedrooms |
Full Baths |
Half Baths |
List Price |
Sale Price |
Days on Mkt |
|
|
Min |
1267 |
2 |
1 |
1 |
$99,900.00 |
- |
22 |
|
Max |
5188 |
5 |
5 |
1 |
$575,000.00 |
- |
270 |
|
Avg |
2067 |
3 |
2 |
1 |
$198,344.00 |
- |
108 |
| Sold – 4 Properties | |||||||
|
Sq Feet |
Bedrooms |
Full Baths |
Half Baths |
List Price |
Sale Price |
Days on Mkt |
|
|
Min |
1124 |
2 |
1 |
1 |
$99,950.00 |
$92,500.00 |
23 |
|
Max |
3182 |
4 |
3 |
1 |
$369,900.00 |
$360,000.00 |
144 |
|
Avg |
2069 |
3 |
2 |
1 |
$207,413.00 |
$201,600.00 |
98 |
| Pending – 2 Properties | |||||||
|
Sq Feet |
Bedrooms |
Full Baths |
Half Baths |
List Price |
Sale Price |
Days on Mkt |
|
|
Min |
1412 |
3 |
2 |
$29,900.00 |
- |
7 |
|
|
Max |
1774 |
3 |
2 |
$175,900.00 |
- |
100 |
|
|
Avg |
1593 |
3 |
2 |
$102,900.00 |
- |
54 |
|
| Expired – 2 Properties | |||||||
|
Sq Feet |
Bedrooms |
Full Baths |
Half Baths |
List Price |
Sale Price |
Days on Mkt |
|
|
Avg |
1772 |
3 |
2 |
$125,950.00 |
- |
2 |
|
Things are looking a little better in Linwood. Sales have been off since the beginning of 2011 (that trend continued in the fourth quarter); but the number of homes for sale has declined some. With a little luck, that should help the supply/demand ratio some. There were nine homes for sale at the end of December. That’s down from the 17 at the end of the third quarter as well as the 15 at the end of the second quarter. In contrast, four homes sold (compared to five at the end of the third and second quarters; and six at the end of the first quarter). As a point of reference, nine homes sold in the fourth quarter of 2010. Two sales were pending on Dec. 31, slightly better than the one at the end of the third quarter. Since I like to see the number of pending and sold listings equal to or greater than the number of active listings, these numbers could be better; but they have been worse. There were two listings that expired in the fourth quarter; that’s the same as the third. These numbers tell me Linwood could be poised for a better year in 2012.
Please let us know if we can help you. And if you would like this update “hot off the press” at the end of every quarter, e-mail us.
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