Current Real Estate Market Trends:
Average price per square foot for Tulsa OK was $89, an increase of 8.5% compared to the same period last year. The median sales price for homes in Tulsa OK for Jun 08 to Aug 08 was $134,500 based on 319 home sales. Compared to the same period one year ago, the median home sales price increased 7.6%, or $9,500, and the number of home sales decreased 69.3%.
The average listing price for homes for sale in Tulsa OK was $240,084 for the week ending May 19, which represents an increase of 0.5%, or $1,110, compared to the prior week. Popular neighborhoods in Tulsa include Maple Ridge and Lynn Lane, with average listing prices of $478,596 and $219,832.
History of Tulsa:
Tulsa, the second-largest city in Oklahoma and seat of Tulsa County, is located in the northeast part of the state on the Arkansas River.
Tulsa was settled in the 1830s by Creek Indians from Alabama who were forcibly sent to the area (then part of Indian Territory) under the Indian Removal Act of 1830. Creek medicine men planted ashes from their old home at the new site, and the Creeks named their new village “Tulsy,” meaning old town, in memory of their former home in Tallassee, Ala. In time, the village became the town of Tulsa.
The coming of the first railroad in 1882 attracted white settlers to Tulsa, and the town developed into a cattle-shipping center. When enormous oil deposits were discovered at nearby Red Fork in 1901 and at Glenn Pool in 1905, the city experienced rapid growth as a center of a booming petroleum industry. Tulsa was incorporated as a city in 1898 and chartered in 1908.
Tulsa is the center of the state’s petroleum and telecommunications industries and has a diversified economy. Other important industries include aerospace, chemicals, computer parts, automobile glass, fabricated metals, and industrial machinery. The city became a major inland port when the Tulsa port of Catoosa opened in 1971.
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