Nichols Hills, OK 73116 Real Estate Market Report

ZIP Code: 73116
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Nichols Hills market is currently characterized by a median sold price of $329,900, which reflects actual transaction activity and provides a clearer picture of market value compared to listing prices. The market appears to be experiencing a shift, with homes selling below their listing prices, indicating potential pricing friction. The median days on market stands at a notable 251 days, suggesting a slower sales velocity and a potential adjustment period for sellers to align with buyer expectations.

Despite these localized trends, the broader Oklahoma City metro area remains robust, driven by strong job growth and affordability that attracts relocators. However, the current market dynamics in Nichols Hills suggest a move towards balance, with elevated inventory levels leading to a more moderated transaction environment. This may indicate that buyers have more options, but also that sellers may need to adjust their pricing strategies to remain competitive in this evolving landscape.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Nichols Hills OK 73116 market average around 6.04% compared to the 2026 forecast average of 5.75%, indicating property owners locked in a relatively favorable rate.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median listing price is $380,000, indicating a significant gap between asking and selling prices, which may suggest pricing friction in the market.

2. With a median days on market of 251, the market is experiencing slower sales velocity, reflecting a potential adjustment period for sellers.

3. The median market rent is $1,510, which is up compared to previous periods, indicating a strengthening rental market.

4. Current interest rate pressure is considered elevated, which may impact buyer affordability and overall market activity.

5. The median price per square foot is $201.00, suggesting that while prices are stable, there may be moderate interest rate pressure affecting buyer sentiment.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.