Is Nowata, OK 74048 a buyer’s or seller’s market?
Nowata is a balanced market. With about 5.9 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Nowata housing market right now
In the three months ending August 31, 2026, 29% of homes in Nowata, OK 74048 sold above their list price, the typical home went under contract in 25 days and there were 5.9 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (30% then), homes sold faster (96 days then) and the median sale price rose 52% to $166,928. Overall, Nowata is more competitive than a year ago, so tougher for buyers.
Nearby, buyers who want less competition could look at Wann 74083 (0% sold over asking) or S Coffeyville 74072 (0% sold over asking).
Run the numbers for 74048
Nearby markets
Delaware 74027Seller’s market $67 /sq ftLenapah 74042 — /sq ftS Coffeyville 74072 $93 /sq ftWann 74083Seller’s market $167 /sq ft Browse all markets →Towns like Nowata nearby
Find towns like Nowata in other states →Where Nowata is
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Questions about Nowata real estate
Is Nowata a buyer’s or seller’s market?
A balanced market: there were 5.9 months of supply in Nowata, OK 74048 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Nowata?
The typical home went under contract in 25 days in the latest three months.
Do homes in Nowata sell over asking?
29% of homes sold above their original list price, and the typical sale closed at 96.8% of the list price.
What are property taxes in Nowata?
About 0.65% of a home’s value a year in Nowata County, or roughly $2,600 on a $400,000 home.
What is the median home price in Nowata?
The median sale price was $166,928 in the three months ending August 31, 2026, about $103 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology