Oklahoma City home sales dipped nearly 3% in September, but that is a mild stumble compared with the 6% plunge seen nationwide. The typical home in the metro sold for $270,000, up 1.9% from a year earlier, even as the number of homes on the market climbed, while remaining below pre-pandemic levels.
According to a report from homes.com, Oklahoma City recorded 1,566 home sales in September, down 2.7% from a year earlier. That is a far smaller decline than the 6% drop nationally, where 292,650 homes sold in total during the month. The Dallas-based real estate data firm's findings were highlighted in a report from The Journal Record, which noted the comparative strength of the local market heading into the colder months.
Cody Gibbs, homes.com's director of analytics, said Oklahoma City sales held up well compared with the country overall, per the same report. Prices backed up that read: the metro's typical sale price rose $5,000, or 1.9%, year over year to $270,000, a bigger jump than the national price gain of 0.6%. The median price of Oklahoma City single-family homes alone rose 1.5% to $272,000, about 29.5% below the national median of $386,000, the homes.com report notes.
Inventory Keeps Growing Even as New Listings Dry Up
Despite the steady sales and rising prices, the number of homes sitting on the market in Oklahoma City kept expanding. There were 7,091 homes for sale in September, up 4.4% from a year earlier, outpacing the national inventory increase of 1.9%, the homes.com report found. That growth came even though new listings fell 6.1% year over year to 2,072, a steeper drop than the 3.1% decline seen nationally.
The gap between fewer new listings and a growing supply of homes for sale traces back to existing properties simply sitting on the market longer, which has padded overall inventory, according to the same homes.com data. The typical Oklahoma City property spent 59 days on the market in September, two days longer than a year earlier, though that is still quicker than the national average of 61 days. The metro also had 4.1 months of housing supply, just below the national level of 4.5 months, the report states.
A Calmer Market After a Rough Summer
The latest numbers mark something of a turnaround after a bruising stretch earlier this year. Home sales in Oklahoma City fell sharply in August, with the decline more than twice the national average and the slowest August sales pace the market had seen in nearly a decade, according to an earlier report from The Journal Record. That followed a summer in which metro-area listings had jumped 14.1% over the prior year to 7,956 total, the highest level recorded since August 2019, and sales had barely budged, rising just 0.5% from May to June, per the outlet's earlier coverage.
Gibbs described the current Oklahoma City housing market as fairly balanced rather than clearly favoring buyers or sellers.
What the Forecast Looks Like Heading Into 2027
Homes.com's outlook suggests the market's momentum may soften before picking back up. Oklahoma City home prices are forecast to ease through the end of 2026 and return to modest growth in 2027, Gibbs said. Inventory is also expected to keep rising despite the drop-off in new listings, continuing a trend that has reshaped the local market throughout the year.
Beyond the single-family market, price trends diverged sharply by housing type. The median townhome price in Oklahoma City grew 26.4% year over year, while the median condo price fell 16.7%, according to the homes.com data. Those swings underscore just how uneven the recovery has been across different corners of the local housing stock, even as the overall market continues to outperform the national picture.
