Quote:
Originally Posted by icemncmth
The brownstones are very nice but. they are not worth 600,000+ and most of them will cost more that that because the cost of building materials is going up..
Now comes the interesting thing...they are building this community and most haven't been built.....
So will they be able to build and sell all of the homes and will they all be over half million or will they sell a few high dollar units and then have to build cheaper models? If they do build cheaper units will that drive the value of the expensive units down....
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the brownstones are priced around $225/sq ft. it's very expensive for a lot of people. but there is a lot of money in the town and if energy prices don't tank. that number will only grow. as far as comps, the good location homes in nichols hills list anywhere from $200-300/sq ft now and there doesn't seem to be a problem finding buyers. closer to downtown, the nicer homes in heritage hills are approaching $200/sq ft. so it's not like downtown is this anomaly in the okc real estate market. there are other places in the city with similar prices.