May 2026 Overview
The Tulsa real estate market remained well-balanced in May 2026, with strong price appreciation and favorable market conditions continuing into early summer. Median home prices reached $277,000, representing a 6.5% year-over-year increase from May 2025. Market activity remained steady with balanced supply and demand dynamics across most price segments.
Key Metrics
Market Analysis
May's strong performance continued the year's positive momentum. The modest 0.96% increase in closed sales compared to May 2025 belies the underlying strength in the market, as prices rose significantly and homes continued to move quickly. The 18-day average time on market remains well below the national average of 34 days, indicating strong buyer demand.
Pending listings reached 1,045 in May, up 14.96% compared to May 2025, suggesting the pipeline for future sales remains robust. New listings moderated slightly to 1,433, down 4.15% year-over-year, as spring's initial listing surge gave way to more sustainable levels. The market maintained a balanced inventory position at 3.23 months of supply, ideal for both buyers and sellers.
Price Trends
Median list prices held steady at $279,900, while actual sale prices reached $277,000—a 100% sale-to-list ratio unchanged from May 2025. This indicates sellers continue to price competitively and buyers are meeting asking prices, a sign of equilibrium. Price per square foot averaged $155, up 6.2% year-over-year, consistent with the overall appreciation trend.
Buyer Outlook
The combination of favorable prices, quick sales velocity, and balanced inventory creates a stable market for both buyers and sellers. While prices have appreciated 6.5% year-over-year, the pace remains sustainable. For buyers, competitive homes still sell quickly (18 days median), but the 3.23-month inventory level provides options. Mortgage rates at 6.5% offer modest relief from earlier 2026 levels.
Seller Perspective
Sellers benefited from strong price appreciation (+6.5% YoY) and maintained 100% sale-to-list performance. The 18-day average marketing time provides competitive advantage for well-priced, prepared homes. Pending listings' 14.96% surge suggests continued buyer interest into June and beyond.