Zillow names Tulsa 5th best place to buy!

Real estate website Zillow.com has named Tulsa the fifthe best metro area in the nation for buying a home.

The wesbite, which released its Best Places to Buy 2011 survey this week, said it based it's rankings for 125 metro areas on affordability, unemployment, foreclosure frequency, and price appreciation.

Zillow noted that the average value of a home in Tulsa, as of Sept. 30, was $114,000.

It indicated that Tulsa area home values dropped only 3.6 percent in the 12 months preceding that date. This rate is relatively low compared to other metro areas across the county.

Zillow's report also stated that Tulsa had THE most affordable homes in it's top 10 list of best buy cities, offering home buyers a "good bang for their buck."

The website further estimated that homes in Tulsa sold for $73 per finished square foot, compared to the national average of $108 per finished square foot.

The survey also computed home affordability by using the home value index and median household income data from localities across the country. While some areas were as high as 7.56, the national average at 3.19, Tulsa's affordability was a low 2.3 -- good news for home buyers in Tulsa Oklahoma!