Oklahoma
Housing Market
The landscape of Oklahoma’s housing market evolves with shifting home prices and demand. Houzeo’s housing market report tracks these changes in supply and demand across Oklahoma. Our report offers real-time insights to help you make informed decisions.
Overview
Supply
Demand
Buy or Sell
Market Insights
MigrationOklahoma Housing Market Overview
Oklahoma house prices show a 4.5% YoY growth as of January 2025. The consistent growth in home prices indicates the strength of the housing market. Currently, the average home price in Oklahoma is $236,000. Moreover, the number of homes sold has increased by 10.2% YoY.
You can also check the market competitiveness through median days on the market. Houses in Oklahoma now spend 57 days on the market before going under contract. All these metrics collectively indicate changes in the Oklahoma housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
You can also check the market competitiveness through median days on the market. Houses in Oklahoma now spend 57 days on the market before going under contract. All these metrics collectively indicate changes in the Oklahoma housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: Oklahoma housing market conditions currently favor you in several ways. The modest 4.5% price increase keeps homes more affordable than elsewhere in the country. Homes for sale in Oklahoma now stay on the market for 57 days, and this extended timeframe gives you room to consider your options. In areas where the days-on-market exceed the 58-day average, your negotiation power will be even greater.
- If You're a Seller: Homes for sale in Oklahoma still command 4.5% higher prices. Real estate in Oklahoma shows steady growth despite longer selling times. Price your home at market value to attract serious buyers. Oklahoma homes priced too high now sit beyond the 58-day average. Make sure you complete all necessary repairs before you list your home. Professional photography helps your listing stand out from the growing competition.
Oklahoma Housing Supply
Homes for sale in Oklahoma reached 17,742 available properties this January. This represents a 20.1% increase in Oklahoma housing inventory year-over-year. New listings in Oklahoma’s real estate housing market also grew by 20.8%. This translates to 4,407 fresh properties entering the competitive marketplace. The Oklahoma home supply currently stands at 4 months statewide. This figure is close to the 6-month benchmark that indicates a balanced market.
What Does It Mean for Home Buyers and Sellers?
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: The significant jump in Oklahoma houses for sale provides substantially more options than last year. The abundant choices create better opportunities to find your ideal home in Oklahoma. The 4-month supply still favors sellers, but is approaching balanced territory. Your patience may reward you with better terms on competitively priced Oklahoma properties for sale. Browse multiple options before you make any commitments in this evolving market. Target homes that remain unsold beyond the 58-day market average.
- If You're a Seller: The 4-month supply means you have some advantage in the current Oklahoma housing market. Your property will attract buyers despite competition from increasing inventory levels. Strategic pricing remains your strongest tool with 17,742 competing homes. Remember, buyers act quickly on well-priced attractive properties. Features that distinguish your house in Oklahoma deserve prominent marketing emphasis. Professional staging helps capture attention amidst growing competition.
Oklahoma Housing Demand
Homes for sale in Oklahoma achieved above-list price in 17.3% of transactions. This represents a 1.8 point decrease from January last year. On the other hand, real estate in Oklahoma saw 25.6% of listings take price cuts. This marks a 1.7 point increase from last January. The Oklahoma housing market maintains a strong value with a 96.8% average sale-to-list price ratio. It indicates a balanced market, tipped slightly toward buyers.
What Does It Mean for Home Buyers and Sellers?
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: The decreasing number of above-list sales bodes well for your negotiating position. With 25.6% of homes in Oklahoma now selling below the asking price, you have plenty of opportunities to find motivated sellers. The 96.8% sale-to-list price ratio suggests reasonable room for negotiation. Focus on Oklahoma houses that remain listed beyond 30 days, and consider properties with recent price reductions for additional savings opportunities.
- If You're a Seller: Your Oklahoma property for sale still holds strong value in this balanced market. The 96.8% sale-to-list ratio demonstrates that buyers are still paying close to the asking price. 17.3% of homes in Oklahoma for sale still command above-list prices. Buyers remain willing to compete for properties with standout features. Well-priced, well-presented houses in Oklahoma continue to sell steadily despite market shifts. Your focus should be on proper preparation and staging to distinguish your property from the competition.
Is it a Buyer’s or Seller’s Market?
Strong
Buyer
Buyer
Balanced
Seller
Strong
Seller
Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Is it a Buyer’s or Seller’s Market?
With a 4.5% price increase, the Oklahoma housing market maintains neutrality but shows early signs of favoring buyers. Oklahoma homes now spend 57 days on the market, providing buyers more time to consider their decisions. The 25.6% of homes with price drops points to increased seller flexibility. These emerging trends signal rising negotiation power for buyers.
However, the Oklahoma real estate market preserves key elements that prevent a complete buyer shift. A strong 10.2% increase in homes sold keeps buyer options in check. The relatively tight 4-month supply sustains healthy competition among buyers. Sellers can expect continued interest despite fewer above-list offers. These conditions help maintain market equilibrium.
Oklahoma Housing Market Insights
The current Oklahoma housing market is more or less on par with the nationwide market. The rise in Oklahoma house prices matches the national average. The average house price in Oklahoma ($236,000) is 43% lower than the national median. Trends indicate growing options for buyers, with 17,742 homes for sale and counting in the Sooner State.
Housing markets like Edmond and Oklahoma City have cooled due to low competition. Homes in such cities spend up to 62 days on the market and sell for about 2% below list price. However, the Oklahoma housing market forecast for 2025 suggests continued growth in some regions, as the market adjusts to economic factors.
Overall, Oklahoma’s housing market is neutral but shows early signs of favoring buyers. If you’re thinking of buying a house in Oklahoma, take into account moving expenses and HOA fees as well.
Housing markets like Edmond and Oklahoma City have cooled due to low competition. Homes in such cities spend up to 62 days on the market and sell for about 2% below list price. However, the Oklahoma housing market forecast for 2025 suggests continued growth in some regions, as the market adjusts to economic factors.
Overall, Oklahoma’s housing market is neutral but shows early signs of favoring buyers. If you’re thinking of buying a house in Oklahoma, take into account moving expenses and HOA fees as well.
Nationwide Migration Trends
Oklahoma attracted significant inbound migration during winter 2024-2025's peak moving season. Over 2,000 residents searched for in-state homes from Nov '24 to Jan '25. Hordes of new homebuyers arrive from California and Colorado. The lower cost of living and high quality of life draw families to the Oklahoma real estate market. Cities like Oklahoma City, Edmond, and Bixby welcome the most new residents.
This migration pattern reflects the broader cost of living index trends. Oklahoma's index is a good 14% lower than the national average.
This migration pattern reflects the broader cost of living index trends. Oklahoma's index is a good 14% lower than the national average.
Check the Real Estate Trends in Your State
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- Hawaii Housing Market
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- Maryland Housing Market
- Massachusetts Housing Market
- Michigan Housing Market
- Minnesota Housing Market
- Mississippi Housing Market
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Frequently Asked Questions
How is the housing market in Oklahoma?
The Sooner State’s housing market landscape is robust despite increasing mortgage rates. Homes for sale in Oklahoma are in high demand. Statewide prices rose 4.5% YoY in January 2025. Metros like Shawnee and Claremore saw significant price growth.
What are the cheapest cities in Oklahoma?
If you’re moving to Oklahoma from expensive places like New York or California, you will pay at least 30% to 55% less to buy or rent a house. Anadarko ($75k) and Altus ($195k) have the lowest median home sale prices, and are among the cheapest places to live in Oklahoma.
Should I wait for some time before buying a home in Oklahoma?
As a buyer, you can get a fair deal now with stable prices and a growing inventory of Oklahoma homes. The average home price in Oklahoma is currently $236,000. If you’re buying a house in Oklahoma, you should first get a mortgage pre-approval. You will also need to budget for a down payment of up to 10%.
How can I list my home for sale in Oklahoma?
You can list your home for sale with a Flat Fee MLS Oklahoma listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What's the cost of living in Oklahoma?
The cost of living in Oklahoma sits at an index of 86. Oklahoma’s living expenses are 14% less than the national average. The state’s housing index of 68 also reflects lower home prices. A home costs a median of $236,000 in Oklahoma today, 43% lower than the national average. You can find out more with our free Oklahoma cost of living calculator.
How does Oklahoma’s housing market compare to the national market?
Oklahoma’s housing market growth is on par with the national market, with steady price growth. There is also high demand due to migration from other states and Oklahoma’s low cost of living.
Is now a good time to buy or sell a home in Oklahoma?
It depends on the current trends in housing prices and inventory in your city. Sellers can benefit from stable demand and rising prices. However, if mortgage rates are stable with more than 6 months of supply, it’s the best time to buy a house in Oklahoma.
What is the average mortgage rate for buyers in Oklahoma?
The average mortgage rate for buyers in the Oklahoma real estate housing market fluctuates between 6.33% and 7.06%. Before you apply for a mortgage, make sure to check your credit score and the current mortgage rates with lenders.
Will the Oklahoma housing market crash?
As per the Oklahoma housing market forecast for 2025, it’s implausible that the Oklahoma housing market will crash. In fact, Oklahoma house prices are projected to grow along with the housing demand in 2025.
What is the Oklahoma housing market forecast for 2025?
The Oklahoma housing market should stay neutral yet cyclical through 2025. The market will shift between buyer and seller control throughout the year. Sellers dominate May and June with higher demand and prices. Buyers find advantages in January and February with higher supply and median days on the market.
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