Mid-Year Tulsa Real Estate Market Report: June Update

We are officially halfway through the year, and the June numbers are in!

I know many of you have been waiting on pins and needles to see exactly what is happening in the Tulsa, Oklahoma real estate market. At The Wolek Group with Keller Williams Realty, staying educated on the latest and greatest data is just what we do. We have to know the numbers so we can best serve our clients.

Let's dive into a quick mid-year summary of the local housing market!

Summer Real Estate Surge: Sales Are Up

Real estate is a highly seasonal industry. If you guessed that summer is our busiest season, you are absolutely right! In fact, our team just had the highest number of closings in June that we've had all year.

The market data reflects this surge:

• Closed Sales: Up 8% year-to-date.
  
  
• Pending Sales: Up 9.34% in June.
  
  
• New Listings: Down slightly by 1.25%.
  
  

What this means for you: With buyer activity up and new listings down slightly (likely due to summer vacations and travel), right now is an excellent window of opportunity for sellers. Less inventory means less competition for your listing!

Pricing Reality Check: What is a "Good Deal"?

Currently, the median list price is $285,000, and the median sales price is $280,000.

For buyers, this slight gap provides a bit of hope. It indicates that there is room to negotiate—whether that means coming slightly off the list price, negotiating repairs, or getting some closing costs paid by the seller.

However, it is important to note that the list-to-sales price ratio is holding strong at 99%. We often hear buyers say they want to find a "good deal." But in a market where homes are selling for 99% of their asking price, we have to realistically define what a good deal actually looks like for your specific goals!

Days on Market vs. The True Timeline

Right now, the median Days on Market (DOM) is 25 days.

I remind my clients of this every single time: 25 days on market does not mean you list your house and close the sale 25 days later! It means it takes an average of 25 days to secure an accepted offer. Once you are under contract, the pending process (inspections, appraisals, financing) takes another 30 to 45 days.

The reality: If you list your home today, you are looking at a minimum of two months before you get to the closing table.

Plan Ahead for Your Next Move

Because homes are not sitting on the market for long, preparation is key. If you are a buyer whose apartment lease is ending soon, or a homeowner who needs to sell your current house before buying your next one, you need to factor this 60-day timeline into your plans.

Don't wait until the last minute! Schedule a consultation with your real estate professional early so you are fully prepared to make a strong offer the second you find the perfect home.

Want the full 11-page data breakdown? Reach out to The Wolek Group today, and we will send the complete June Market Report straight to your inbox!