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Real estate briefs from The Oklahoman for April 13, 2019

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The warehouse at 9401 Pole Road fetched $4.2 million for Vanguard Development Co. [PHOTO PROVIDED]
The warehouse at 9401 Pole Road fetched $4.2 million for Vanguard Development Co. [PHOTO PROVIDED]

Vanguard Development sells its warehouse

Vanguard Development Co. has sold its long-held warehouse at 9401 Pole Road to a California investor.

Safe Harbour Industrial LLC paid $4.2 million for the 60,000-square-foot Class A property, which Vanguard built in 2001, in a transaction handled by brokers Brett Price and Kris Davis with NewMark Grubb Levy Strange Beffort.

The building was fuly occupied by tenants Carpenter Co., which makes mattress foam, 30,000 square feet; Wheel Pros, which makes wheels for cars, trucks and other vehicles, 20,000 square feet; and Binswanger Glass, a custom glass manufacturer, 10,000 square feet.

New house construction is most since 2015

Oklahoma City-area homebuilders started 1,223 new houses in the first quarter, the most since 2015, according to The Builder Report, published by Dharma Inc. in Norman.

Builders started 1,153 houses the first three months of last year, 1,167 in January-March 2017, 990 the first quarter of 2016, and 1,322 the same period in 2015, according to the report.

This year, builders started 301 houses in January, 351 in February, and 571 in March, according to the report, which tracks construction in Oklahoma City, unincorporated Oklahoma County, Bethany, Blanchard, Choctaw, Edmond, Midwest City, Moore, Mustang, Newcastle, Noble, Norman, Shawnee and Yukon.

Of the houses started in the first quarter, 298 were in the price range of $100,000 to $150,000, followed by 171 in the $150,000-$200,000 range, 167 in the $200,000-$250,000 range, 161 in the $250,000-$300,000 range, and 131 in the $50,000-$100,000 range, The Builder Report said.

Builders are readying for the Parade of Homes Spring Festival, which will feature more than 100 new homes open free to the public from 1 to 7 p.m. each day April 26-28 and May 3-5. For details, go to www.paradeofhomesok.com.

Realtors help sell fewer homes in March

Oklahoma City-area Realtors helped sell 1,516 houses last month, 5.1 percent fewer than in March 2018, according to the Metro Association of Realtors.

The number of new listings was 2,267, up 7.8%, and the number of pending sales was 1,783, down 2.9%, the Realtors reported, in Oklahoma City, Arcadia, Bethany, Blanchard, Deer Creek, Edmond, Harrah, Luther, Midwest City, Moore, Mustang, Newcastle, Nicoma Park, Norman, Piedmont, Tuttle, Warr Acres and Yukon.

The average sale price was $220,975, up 5.3%, and the median sale price was $186,000, up 6.3%.

Across the wider region covered by the association, which extends north, south and west of Oklahoma City, Realtors helped sell 2,068 houses last month compared with 2,099 in March 2018.

Staff reports

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