TREW Market Reports
A three-level look at the housing market — national forces, Greater Tulsa conditions, and what neighborhood-level data means for buyers and homeowners making real decisions in Tulsa right now.
The national housing conversation in Q1 2026 was shaped by the same tension it has been for two years: buyers want lower rates, sellers are reluctant to move, and inventory has not recovered to pre-pandemic levels. The headlines are real, but they are not the whole story for Tulsa.
The Federal Reserve held its benchmark rate steady through Q1 2026 at a target range of 3.50% to 3.75%, following three cuts totaling 75 basis points in late 2025. The Fed signaled a cautious, data-dependent posture — neither cutting nor hiking — as inflation remained above its 2% target and the labor market held steady.
The practical effect on buyers: the 30-year fixed mortgage rate dipped to around 6.09% in February before settling near 6.23% in March. For a $250,000 purchase with 10% down, the difference between 6.1% and 6.8% (the 2024 high) is roughly $100 per month in payment. That matters, but it has not unlocked demand the way many hoped.
$403K
National Median
+1.4% YoY
4.1 mo
Months Supply
Up from 3.8 mo
4.8M
Annualized Sales
Below 5.5M pre-pandemic
6.23%
30-Yr Fixed Rate
March 2026 average
Sources: NAR (median price, sales pace, months supply), FRED/St. Louis Fed (30-yr mortgage rate). Q1 2026 data.
National inventory is up roughly 15% year-over-year but remains 35% below 2019 levels. The "lock-in effect" — homeowners staying put because they do not want to trade a 3% mortgage for a 6% one — is still suppressing supply. Prices have not corrected. The National Association of REALTORS® reported continued year-over-year price appreciation through Q1 2026, extending a trend that has persisted for multiple years across most U.S. markets.
What the national numbers do not tell you: Oklahoma is not California. National median prices and national inventory figures are aggregate data. Tulsa has different fundamentals — lower price points, lower lock-in pressure, and different demand drivers than the coasts. The macro view sets context. It does not dictate local outcomes.
The Greater Tulsa market entered 2026 in a position that would look attractive to buyers in most major metros: homes are priced below the national median, days on market is measured in weeks rather than months, and modest appreciation has continued without the volatility seen in coastal markets.
$245K
Median Sale Price
+3.2% YoY
28 days
Median Days on Market
Active listings
3.1 mo
Months Supply
Balanced market range
98.4%
List / Sale Ratio
Homes closing near ask
Sources: Redfin, Zillow Research, Oklahoma Association of REALTORS®. Q1 2026 estimates. Figures represent public aggregator data; TREW does not hold a direct MLS data feed.
Active listings in the Greater Tulsa area stood at approximately 1,000 to 1,100 in March 2026 according to public aggregator data — a balanced supply environment, though still below historical norms. The statewide picture is similar: Oklahoma recorded an estimated 20,000 to 21,000 active listings in March, up approximately 6% year-over-year, with homes selling in a median of around 52 days statewide (Oklahoma Association of REALTORS®, Q1 2026).
Tulsa moves faster than the state average. A 28-day median days on market means well-priced homes in desirable neighborhoods are still receiving competitive interest. Price reductions are more common than they were in 2021 and 2022, but a 98.4% list-to-sale ratio indicates sellers are not giving ground significantly.
Tulsa's 3.2% year-over-year appreciation in Q1 2026 is consistent with its 10-year average and reflects the steady, non-speculative market dynamics that have historically made Tulsa a stable housing environment. Oklahoma homeowners who have owned for three or more years have accumulated meaningful equity. Both OKC and Tulsa have posted steady cumulative appreciation over the last 36 months consistent with the state's historical pattern of stable, non-speculative growth. (Source: Zillow Research, FHFA House Price Index.)
New construction activity in the Tulsa metro has provided modest supply relief in outer suburbs and developing corridors. However, new builds are concentrated in the $280,000 to $380,000 range — above the current median — meaning entry-level buyers are primarily competing for existing homes.
Tulsa's market is functioning. It is not distressed, not overheated, and not in freefall. For buyers, that means preparation and realistic expectations matter more than timing. For homeowners, it means equity is accumulating at a pace that rewards staying rather than waiting.
| Metric | National | Oklahoma | Tulsa Metro |
|---|---|---|---|
| Median Sale Price | $403,000 | $256,700 | $245,000 |
| YoY Price Change | +1.4% | +3.6% | +3.2% |
| Months Supply | 4.1 months | 3.4 months | 3.1 months |
| 30-Yr Mortgage Rate | 6.23% | 6.23% | 6.23% |
| Annual Insurance Premium | $2,801 avg | $6,000+ avg | Varies by zip |
Sources: NAR, Redfin, Zillow Research, FRED/St. Louis Fed, Oklahoma Association of REALTORS®, Goosehead Insurance. Q1 2026 data. Tulsa MSA figures are estimates from public aggregators. Insurance premiums are approximate averages and vary by property and coverage.
The Macro View tells you what the national media is covering. The Micro View tells you where the Tulsa market sits. Neither one tells you what your home is worth, what a home on a specific street will sell for, or what demand actually looks like in your target neighborhood.
That is the Local View. And it requires different tools.
Within the Greater Tulsa MSA, market conditions vary meaningfully by zip code, school district, proximity to major employers, and neighborhood trajectory. A home in Midtown Tulsa, a home in South Tulsa, and a home in a developing outer suburb are not competing in the same micro-market — even though they show up in the same county-level statistics.
In Q1 2026, local practitioners reported that certain Tulsa corridors continued to see competitive offers while comparable properties in adjacent zip codes were sitting considerably longer. That spread is real, but it is not visible in county-level medians. Only neighborhood-specific data captures it.
A CMA — Comparative Market Analysis — pulls recent closed sales, active listings, and withdrawn listings within a defined radius of a target property. It adjusts for square footage, condition, lot size, and updates, and it produces a realistic price range based on what buyers have actually paid for comparable homes in that specific area in the last 90 days.
For buyers, this prevents overpaying in a competitive situation and underoffering in a slower one. For sellers, it is the difference between pricing to sit and pricing to close.
Local View
Want the data for your specific neighborhood?
BC Flanigan provides no-obligation Comparative Market Analysis reports for buyers and homeowners in the Tulsa area. A CMA takes what the Micro View establishes about the broader market and applies it to the street level — what homes are selling for, what is driving demand, and what a realistic price looks like right now.
Request a Local CMABC Flanigan is a licensed REALTOR® with Keller Williams Realty Advantage. A CMA is market data, not a listing agreement. No obligation.
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Data sourced from the National Association of REALTORS® (NAR), Redfin, Zillow Research, FRED/St. Louis Fed, Oklahoma Association of REALTORS® (OAR), and publicly available housing data aggregators. TREW does not hold a direct MLS data feed; Tulsa and Oklahoma MSA figures are estimates compiled from public sources. Figures represent Q1 2026 (January through March) unless otherwise noted. Market conditions change. This report is educational in nature and does not constitute investment or real estate advice. BC Flanigan is a licensed REALTOR® with Keller Williams Realty Advantage in Tulsa, Oklahoma. TREW is a community media and education platform produced by Bright Current Media.