What $400,000 buys: Oklahoma City

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What $400K will buy: Oklahoma City
Brand-new traditional brick home has three bedrooms and three baths. It features hand-scraped hardwood floors in the foyer, living room, dining room and study. Living room has floor-to-ceiling stone hearth with gas fireplace, exposed brick arches and 10-foot ceilings. Adjacent kitchen with exposed brick, stone-tile floor, granite counters, two ovens (one gas, one electric), island with storage and eat-in area with large arched window. Master suite with arched windows and bathroom with 6-foot jetted tub, walk-in stone-tile shower, double vanities and water closet. Study with built-in desk and shelves, plus hand-glazed walls. Bonus room with its own full bath and kitchenette.
3 bedroom (plus bonus room)/3 bath
3,050 square feet
0.27 acre lot
Features: Decorative brick arch with wrought iron gate; landscaping; security system, and three-car garage
Listed by: Paradigm AdvantEdge
What you could buy in Oklahoma City for $400,000 a year ago.
Price trend
In Oklahoma City, buyers have a wide range of choices for $400,000.

Inside the city, that price can buy a 2,200-square-foot, remodeled home built in the 1930s to the 1960s, says Mary Fitzpatrick, sales associate with Paradigm AdvantEdge. Or buyers can go “out in the suburbs of Oklahoma City” to find new or newer construction with “3,000-plus square feet and top-of-the-line finishes,” she says.

For buyers looking for a little land, there are “bucolic little neighborhoods” farther out from the city that offer one-plus acre lots and homes more in the 3,500-square-foot range, she says. “They don’t have a lot of bells and whistles but have some space.”

Median home prices fell 5 percent in 2008, to $128,100, according to the National Association of Realtors.