The Market Shift Is Real. But Tulsa Is Different.

The Market Shift Is Real. But Tulsa Is Different.

If you've been following housing news lately, you've probably seen some version of this headline:

“The housing market has shifted in favor of buyers.”

Nationally, there's plenty of evidence behind it.

There are more homes for sale. Buyers have become more selective. Price reductions are common. And sellers in many parts of the country are finding that the strategy that worked a few years ago doesn't work anymore.

But there's an important part of that story that gets lost in national headlines:

Real estate is local. And Tulsa isn't behaving exactly like the rest of the country.

The national market has changed

Realtor.com's latest weekly data showed active inventory across the country running5% higher than a year ago, while the median asking price was1.2% lower. Redfin estimates there were roughly1.53 million sellers compared with 972,000 buyersnationally in August.

That's a very different environment from the bidding-war market buyers remember from a few years ago.

But it doesn't automatically mean buyers can walk into every house and name their price.

Tulsa is much more balanced

The latest Tulsa County numbers tell a more nuanced story.

August ended with approximately3.25 months of housing supply. The median sale price was$290,000, up about5.5% from a year earlier, while the median home sold for approximately99.5% of its list price.

That's not a market collapsing under excess inventory.

It's a market where buyers have more breathing room, but sellers who price and prepare their homes correctly can still do very well.

And that's an important distinction.

Buyers have leverage, but affordability still matters

Buyers today generally have more opportunity to negotiate than they did during the frenzy of 2021 and 2022.

They can often take more time, compare properties and negotiate on homes that have been sitting.

But financing has become tougher again.

Freddie Mac's September 17 survey put the average 30-year fixed mortgage rate at6.95%, up from 6.76% the previous week.

That means the smartest buyer strategy isn't necessarily waiting for the “perfect” market.

It's knowing what you can comfortably afford, being prepared when the right property appears, and understanding where you actually have negotiating leverage.

Sellers can't rely on the old playbook

For sellers, the biggest change may be expectations.

There are still buyers.

There are still homes selling quickly.

But buyers have choices now.

Tulsa County recorded731 closed sales in August, down about 9% from the previous August. At the same time, more than 1,000 new listings entered the market.

That makes pricing increasingly important.

A home that is positioned correctly from the beginning can still attract strong interest. A home that starts noticeably above the market may simply help buyers decide that another property is the better value.

So, is this a buyer's market or a seller's market?

That's becoming the wrong question.

The better question is:

What does the market look like for your particular home, neighborhood and price range?

Some segments of the Tulsa market remain competitive. Others offer buyers substantially more selection and negotiating room.

That's why national headlines can be useful context, but they shouldn't determine your real estate decisions.

AtEMPIRE REALTOR GROUP, we'd rather look at what's actually happening around your home or in the area where you want to buy.

Because the market has changed.

But it hasn't changed the same way everywhere.

Your Home Should Be Your EMPIRE.