Oklahoma real estate trends (May 2022)
How is the real estate market in Oklahoma?
🏠 Average home value: $178,378
📈 1.19% home value increase month over month
💰 Median sale price: $245,600
⏳ 49 days on the market
🔑 Homes on the market: 5,652
📆 0.7 months of housing inventory
🏦 30-year mortgage rate: 5.50000%
💵 Average income: 52919
State of the market: B-
Oklahoma’s market maintains healthy activity but is starting to cool, as home values continue to inch downward and inventory bumps up. However, things may reverse soon if homes continue to come off the market more quickly than in recent months.
*Data last updated May 2022
The Midwest has a reputation for flatlands and fields — but Oklahoma's geography contains 10 distinct geographic regions that range from the Ozark Mountains to deep valleys, and from high plateaus to underground caverns.
The state's biggest cities include Oklahoma City, Tulsa, and Norman — but there are plenty of smaller towns and suburbs to choose from, too. Edmond, Jenks, and Bixby have earned recognition for being especially family-friendly.
Located north of Texas, Oklahoma has hot summers and relatively mild winters that are influenced by the nearby Gulf of Mexico. Though the state is landlocked, Oklahoma holds a nationwide record with approximately 200 man-made lakes.
If you're thinking of buying or selling in Oklahoma, these Oklahoma housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in Oklahoma
Oklahoma real estate market forecast for sellers
⏰ Homes are selling 12 days faster than the annual average
💰 Homes are selling for $31,582 more than the annual average
💸 Average listing commission: 2.90%
💸 Average buyer's commission: 3.00%
How to sell a home in Oklahoma
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Oklahoma (June 2021 Rankings)
- 8 Steps to Selling a House in Oklahoma
- How to Sell a House By Owner in Oklahoma (2021 Update)
- 4 Best Oklahoma Flat-Fee MLS Companies in 2021
- 5 Oklahoma We Buy Houses for Cash Companies & Alternatives (2021 Rankings)
Cost to sell a home in Oklahoma
- What's The Average Oklahoma Real Estate Commission In 2021?
- Oklahoma Seller Closing Costs in 2021: How Much Will You Pay?
Buying a home in Oklahoma
How much home you can buy with $300,000 in...
🏠 Oklahoma City: 1,765 sq ft
🏡 Lawton: 3,226 sq ft
🏡 Tulsa: 2,083 sq ft
🏠 Stillwater: 2,113 sq ft
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Oklahoma
- The Best Time to Buy a House in Oklahoma
- Everything You Need to Know About Moving to Oklahoma
Investing in Oklahoma real estate
Best of Oklahoma
Each month, we compare cities in Oklahoma based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in Oklahoma
Worst of Oklahoma
Each month, we compare cities in Oklahoma based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in Oklahoma
3. Oklahoma City
- Oklahoma Real Estate Commission
- Oklahoma's real estate license verification
- Oklahoma's real estate agent code of conduct
- Oklahoma's disclosure forms
- Transfer taxes in Oklahoma
- Home buying assistance programs in Oklahoma
Frequently asked questions about Oklahoma real estate
Currently, it is a seller’s market in Oklahoma. Homes are selling quickly and for more than average; however, this may change if mortgage rates continue to increase. Although the overall state of the market is good, each city and town is different, so check in with an experienced real estate agent to understand your local trends.
Oklahoma is a good state to invest in real estate, especially in more populous cities like Oklahoma City and Tulsa. But know that investing requires lots of preparation for it to pay off, like finding which neighborhoods to buy in and creating a solid property management plan. Read through our guide to real estate investing to find out more.
It might not be the best time to buy a house in Oklahoma at the moment. Homes in the state are much more expensive than normal, and mortgage rates are also rising. If you really need to buy a home, then you will need to work with one of the best real estate agents in the state to help you land a good deal.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.