1999 has been a banner year for new home construction. From January through August, 452 new single-family permits were issued in Tulsa with a stated value of $72.7 million, up $18.2 million (33.4 percent) from the same period last year. At the same time, 578 new multi-family permits were issued with a stated value of $68.9 million, down $5.8 million. Overall, the City of Tulsa issued 1,030 permits with a stated value of $141.6 million, up $12.4 million.
The Greater Tulsa Association of Realtors reports that 6,636 homes were sold during the first eight months for an average ales price of $114,795, up 6.4 percent from last year. The average price of a home in August was $116,229.
Value of New Residential Building Permits in Tulsa
Source: City of Tulsa
Jan-Aug 1998 129,200,000
Jan-Aug 1999 141,600,000