Oklahoma City, OK 73116 Real Estate Market Report

ZIP Code: 73116
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

---

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.

---

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.

---

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.

---

Property Taxes

---

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.

---

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 Oklahoma City are approximately 6.3%, which is higher than the rates seen earlier in 2026, indicating that property owners who secured loans during the lower-rate periods of the year are currently holding more favorable terms.

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

---

Key Findings

1. The primary indicator, the median sold price, is 329,000, which represents the most reliable snapshot of recent transaction value and should be the reference point for pricing decisions in this ZIP code.

2. There is a notable gap between the median listing price of 385,000 and the median sold price, which suggests pricing friction where seller expectations exceed recent transaction levels and may require concessions to close deals.

3. Sales velocity appears slow given the median days on market of 294, which, combined with elevated interest rate pressure, may indicate longer marketing times and the need for targeted pricing or incentives to improve liquidity.

4. Market context signals show prices and rents are trending up and the market temperature is neutral, while mortgage costs (Current 30-year fixed ~ 6.3%) are higher than earlier in 2026; together this suggests a balanced—but cautious—market where elevated inventory relative to sales activity may give buyers more choices while keeping pricing momentum moderate.

---

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.

Oklahoma City, OK 73116 Real Estate Market Report

ZIP Code: 73116
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

---

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.

---

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.

---

Rental Market

---

Property Taxes

---

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.

---

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 Oklahoma City are approximately 6.3%, which is higher than the rates seen earlier in 2026, indicating that property owners who secured loans during the lower-rate periods of the year are currently holding more favorable terms.

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

---

Key Findings

1. median sold price: 309,500 is the primary indicator of recent market value in 73116 and, with the price year-over-year trend up, suggests modest appreciation versus prior periods based on available trend metrics.

2. There is a notable spread between median listing price: 252,400 and the representative recent sale (median sold price: 309,500), which may indicate pricing friction where seller expectations and final transaction prices diverge rather than a consistent, narrow negotiation band.

3. The market shows slower transaction velocity, reflected by a median days on market: 314, which appears to indicate slower sales velocity and suggests buyers have more time to evaluate listings even as the broader market temperature remains neutral.

4. Elevated interest rate pressure is a headwind for affordability—current local mortgage context notes 6.3% for a 30-year fixed-rate environment—so while rents are rising (median market rent: 2,000 and rent year-over-year trend up), interest costs may constrain purchase demand and keep market activity measured.

---

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.