Is Tulsa, OK a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Tulsa has remained a Seller's Market.
Key Takeaway
Tulsa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tulsa, OK
How much do homes in Tulsa, OK cost?
Median Sold Price
$229,919
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tulsa have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Tulsa was $229,919 in May 2024, up 2.6% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77.2K | $92K | +19.1% |
| 2 Bedrooms | $138.5K | $141K | +1.8% |
| 3 Bedrooms | $204.8K | $214.6K | +4.8% |
| 4 Bedrooms | $354.3K | $364.8K | +3.0% |
| 5+ Bedrooms | $550K | $525K | -4.5% |
Summary: Tulsa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 4.5%.
Housing Supply in Tulsa, OK
How many homes are available in Tulsa, OK?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,731 | 1,785 | +3.1% |
Summary: The Tulsa real estate market had 1,785 homes for sale in May 2024, a 3.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 45 | 50 | +11.1% |
| 2 Bedrooms | 272 | 294 | +8.1% |
| 3 Bedrooms | 812 | 819 | +0.9% |
| 4 Bedrooms | 462 | 478 | +3.5% |
| 5+ Bedrooms | 140 | 144 | +2.9% |
Summary: The Tulsa housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 2.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 440 | 430 | -2.3% |
Asking Price vs. Sold Price
219 Homes Were Sold
Under Asking
103 Homes Were Sold
At Asking
108 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tulsa, you may be able to get a good deal. 50.9% of homes here sold below asking price last month.
Summary: A total of 430 homes were sold or pending in Tulsa in May 2024, down by 2.3% month-over-month. Of the 430 sold homes, 51% were sold under asking, 24% were sold at asking, and 25% were sold over asking.
Days on Market for Tulsa, OK
How long does it take to sell a home in Tulsa, OK?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 25 Days | +6.2% |
Summary: Homes in Tulsa had an average of 25 days on market in May 2024, up by 6.2% compared to last year.
Breakdown of Home Sale Times
327 Homes Were Sold
Under 30 Days
72 Homes Were Sold
In 30 - 90 Days
31 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tulsa are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 430 homes were sold in Tulsa; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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Disclaimer: IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Copyright © 2024 Northwest Arkansas Board of Realtors All rights reserved.