How Tulsa’s Real Estate Market Is Shaping Up in 2025

Knowledge is power! As we move into 2025, Tulsa’s real estate market continues to evolve, shaped by factors such as home prices, inventory levels, and mortgage rate trends. Whether you are looking to buy a home in Tulsa, sell a home Tulsa, or invest in property in Tulsa and the surrounding areas, understanding these dynamics is crucial in making informed decisions. So, is it a buyer’s or seller’s market? Let’s dive into the current trends shaping Tulsa’s real estate landscape.

Home Prices: A Steady Rise

Tulsa’s home prices have shown a steady increase year over year. Even when I started in this business in 2002 we never experienced dramatic increases and rarely if ever decreases. The past few years, and 2025 are no different. The median home price in Tulsa has risen by 2.69% year-over-year, with the average sale price in December 2024 reaching $301,366, compared to $293,480 in December 2023. While price growth has moderated compared to the pandemic-era boom, affordability remains a key concern for first-time homebuyers, pricing many young buyers out of the market. My first home was $63,500 and it was a 3 bed 2 bath 1 car in the 74105 (Midtown) zip code. These days and prices are long gone:(

For buyers, this means navigating a competitive market where multiple offers on well-priced homes are still common. Sellers, on the other hand, continue to see strong returns but may need to be more strategic with pricing as the market begins to stabilize. The key takeaway for both parties is to stay informed and act quickly when opportunities arise.

Inventory Levels: A Balancing Act

Inventory levels in Tulsa remain tight, though new construction is helping to ease some of the pressure. The monthly inventory increased by 16.32%, with 3,065 homes available in December 2024, compared to 2,635 in December 2023. This increase in listings provides more choices for buyers while keeping the market competitive for sellers.

Additionally, new listings in December 2024 rose by 4.58% year-over-year, with 1,028 new homes hitting the market compared to 983 in December 2023. This suggests that sellers are feeling more confident about listing their homes, and buyers may have more negotiating power compared to previous years.

Mortgage Rates: A Key Market Driver

One of the biggest factors influencing Tulsa’s housing market in 2025 is mortgage rates. Over the past year, rates have fluctuated, impacting both affordability and buying power. As of now, the average mortgage rate sits at 6.75%, higher than in 2023, but not by much. Some buyers are adjusting their budgets, and some are opting for adjustable-rate mortgages (ARMs) to secure lower initial payments. Lower rates could definitely stimulate more buyer activity.

Buyer’s or Seller’s Market?

Tulsa’s real estate market in 2025 remains a competitive yet slightly stabilizing seller’s market. While demand is still strong, increased inventory and fluctuating mortgage rates are beginning to level the playing field. Closed sales in December 2024 increased by 5.75%, with 920 homes sold compared to 870 in December 2023. Additionally, pending sales jumped by 12.82%, reflecting strong buyer activity.

However, average days on market have increased by 23.59%, meaning homes are staying on the market longer. In December 2024, homes spent an average of 42.72 days on the market, compared to 34.57 days in December 2023. This shift indicates a gradual move toward a more balanced market where buyers have slightly more time to make decisions.

Market Outlook: What’s Next?

Looking ahead, Tulsa’s real estate market is expected to maintain steady growth with moderate price appreciation. As more inventory becomes available and mortgage rates stabilize, we hope to see a shift toward a more balanced market.

Additionally, the continued expansion of Tulsa’s job market and population growth will support housing demand. Areas seeing increased commercial development and infrastructure improvements, like Jenks/Owasso/Broken Arrow, are likely to remain hotspots for buyers and investors alike.

Final Thoughts

Whether you’re looking to buy, sell, or invest in Tulsa real estate, 2025 presents both opportunities and challenges. Buyers should stay informed on mortgage trends and be prepared to act quickly in desirable areas. Sellers can still benefit from strong demand but should price homes competitively as the market stabilizes. Working with an experienced real estate professional can help navigate the ever-changing landscape.

If you're ready to start your home search in Tulsa, working with a knowledgeable local real estate expert can help you find the right neighborhood to fit your lifestyle and goals.

Are you considering buying or selling in Tulsa this year? Let's have coffee or go for a walk and discuss a plan and how myself and my Legacy Lions can help.

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