Tulsa Housing Market Update: October 12, 2026
TULSA, OK, October 12, 2026 — In September, metro price-reduced listings rose 10.4% and pending listings fell 5.9%, while builders advertised credits of up to $10,000 instead of published permanent rates.
Resale Market
Observed facts: These metro figures come from a national listing portal and are published on FRED. They cover all home types and show asking prices and listing counts, not closed sales.
| Metric | Sep 2026 | Aug 2026 | Month change | Year change |
|---|---|---|---|---|
| Median asking price | $329,500 | $334,995 | -1.6% | +1.8% |
| Active listings | 3,462 | 3,355 | +3.2% | +3.9% |
| New listings | 1,188 | 1,300 | -8.6% | -7.6% |
| Pending listings | 1,403 | 1,491 | -5.9% | -5.5% |
| Price-reduced listings | 1,546 | 1,400 | +10.4% | +13.3% |
| Median days on market | 60 | 56 | +7.1% | +7.1% |
Price-reduced listings made up 44.7% of active inventory, compared with 41.7% in August and 40.9% a year earlier. The Greater Tulsa association's monthly report could not be retrieved, so this report has no closed-sale price, sales pace, sale-to-list ratio or suburb breakouts.
Interpretation: Fewer new and pending listings, more price cuts and longer market time point to a normal seasonal slowdown, with sellers becoming more flexible. The median asking price dipped 1.6% for the month but is still up from a year ago, so this is not broad price deterioration.
Sources: FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed)
New-Build Competition
Observed facts: Official builder pages checked October 12 show current asking prices, not closed-sale figures: - Tulsa: Schuber Mitchell's Patterson Farms starts at $258,266 for 3–4 bedroom, 2-bath plans. - Broken Arrow: a move-in-ready 3-bed, 2-bath Rausch Coleman Homes by Lennar house at Estates at Lynn Lane is listed at $248,700. - Broken Arrow: Schuber Mitchell's Whiskey Ridge lists homes from $309,900 to $499,900.
Interpretation: Entry-level production homes are asking at or below the $329,500 metro median asking price, so renovated resales compete directly with new homes.
Sources: schubermitchell.com · schubermitchell.com · lennar.com · FRED (St. Louis Fed)
Verified Builder Incentives
| Builder, community | Offer (observed Oct 12, 2026) | Rate terms | Conditions |
|---|---|---|---|
| Schuber Mitchell, Patterson Farms and Whiskey Ridge | $10,000 Flex Cash, "T&C's Apply" | Not publicly disclosed—verification required | Uses, lender, expiration: Not publicly disclosed—verification required |
| Butler Homes, Huntington Park II | "Up To $10,000 in Closing Cost and Rate Buy Down" | Not publicly disclosed—verification required | Select homes; incentives "updated by listing" |
| Rausch Coleman Homes by Lennar, Estates at Lynn Lane | $1,870/mo estimated payment on a $248,700 home | Not publicly disclosed—verification required | "w/ Lennar Mortgage"; no expiration published |
Fixed-rate promotions mentioned in search results were not confirmed on official pages, so none are listed.
Sources: schubermitchell.com · schubermitchell.com · butlerhomesllc.com · lennar.com
Builder-Versus-Resale Payment Comparison
Payment-equivalent price is not the builder home’s contract price, appraised value, taxable value, or buyer equity.
Assumptions: conventional loan, 5% down, 30-year fixed, principal and interest only, a $300,000 new build, and the Freddie Mac 30-year fixed average of 7.40% (October 8, 2026) for the resale. The table is illustrative: the builder rates are scenarios, not current offers.
| Builder rate | Monthly P&I | Equal-payment resale price | Difference | Effective gap |
|---|---|---|---|---|
| 4.99% | $1,528 | $232,334 | $67,666 | 22.6% |
| 5.49% | $1,616 | $245,744 | $54,256 | 18.1% |
| 5.99% | $1,707 | $259,500 | $40,500 | 13.5% |
| 7.40% (market) | $1,973 | $300,000 | $0 | 0.0% |
The 15% thesis, tested this week: a $255,000 resale at 7.40% costs $1,677 a month in principal and interest. A $300,000 new build reaches that payment only at a permanent rate of about 5.83%, roughly 1.57 percentage points under the market rate. The deepest scenario above (4.99%) is worth 22.6% of the price, above the 15% gap between $300,000 and $255,000.
Loan amount in every row: $285,000 (95% of $300,000).
- Closing-cost credits reduce cash due at closing, not monthly principal and interest. Upgrade credits are not cash-price reductions.
- Temporary buydowns expire, so they should not be valued like a permanent rate.
- Any builder promotion should be confirmed with a written loan estimate.
Sources: Freddie Mac
Delist and Relist Tracker
No withdrawn, expired or relisted 3-bed, 2-bath-plus detached house could be verified this week, so the baseline stays open. A dependable aggregate count requires a direct listing-service feed.
Rental and Investor Conditions
Observed facts: An apartment-listing site's October 2026 Tulsa report shows an overall median asking rent of $1,084, up 0.5% for the month and 2.9% from a year ago. Its 3-plus-bedroom figure is $1,588.
Interpretation: Rent growth is modest while financing costs have risen sharply. That likely narrows what investors can pay and leaves more renovated resales to owner-occupants.
Sources: apartmentlist.com
Financing Conditions
Observed facts: - Freddie Mac's 30-year fixed average was 7.40% on October 8, up from 7.28% a week earlier (+0.12 points) and 6.30% a year ago. - The rate has risen four weeks in a row, from 6.76% on September 10. - The 10-year Treasury yield eased to 5.22% on October 8 from 5.28% on October 2.
Interpretation: Mortgage rates have not yet followed the late-week dip in Treasury yields. Financing remains the main headwind for buyers and investors who borrow.
Sources: Freddie Mac · FRED (St. Louis Fed) · FRED (St. Louis Fed)
Market-Level Distress Signals
Observed facts: The Tulsa County Sheriff's Office holds property auctions every Wednesday and updates its auction lists each Friday. No current foreclosure, tax-delinquency, probate or code-enforcement totals were verified.
Interpretation: There is not enough information to determine a trend. The increase in price reductions reflects ordinary negotiation, not distress.
Regulatory and Tax Developments
Observed facts (pending ballot question, not enacted): State Question 847 goes to voters on Nov. 3, 2026. Starting in tax year 2027, it would cut the annual cap on homestead valuation growth from 3% to 1.75%. The cap on other locally assessed real property would drop from 5% to 4%.
Interpretation: Rental owners would get less relief than homestead owners. No tax savings should be counted in underwriting before the measure passes.
Sources: news9.com · okpolicy.org
Ranked Actionable Implications
- Sellers: Price a renovated 3/2 against nearby new-build asking prices. Revisit the price if no acceptable offer arrives by day 30, half the 60-day metro median, since price-reduced listings rose 10.4% in September.
- Buyers: Get written loan estimates from the builder's preferred lender and one outside lender. Count a builder credit as a rate benefit only if the estimate shows a permanent rate under the 7.40% benchmark, since none of the offers reviewed publishes its rate terms.
- Investors and renovators: Underwrite at a rate of at least 7.40% and assume rent growth of no more than 2.9% a year, with no State Question 847 savings.
Market information is general, based on publicly available asking-price and listing data, and is not a property-specific valuation or guarantee.
About Top Dollar Home Offer
Top Dollar Home Offer is a family-owned real estate investment company in Tulsa, Oklahoma. The father-and-son team of Bucky and Cove Cordray buys houses directly from their owners in as-is condition across Tulsa County and the surrounding communities, including inherited, vacant, tax-delinquent and pre-foreclosure properties, and publishes guides for homeowners facing those situations at TopDollarHomeOffer.com.
Media contact
Bucky Cordray, Founder
Top Dollar Home Offer
1831 E 71st St #4244, Tulsa, OK 74136
(918) 212-5442 · TopDollarHomeOffer.com · [email protected]
