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Is Panama, OK 74951 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Panama is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list100%Sold price ÷ list price
Median days on market69Listing to accepted offer
Median price per sq ft$126▲ +27.7% vs. last year

The Panama housing market right now

In the three months ending August 31, 2026, 0% of homes in Panama, OK 74951 sold above their list price and the typical home went under contract in 69 days. With only 2 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking fell from 25%, homes sold more slowly (38 days then) and the median sale price rose 5% to $147,436. Overall, Panama is less competitive than a year ago, which gives buyers more room.

Within Le Flore County, homes here sell more slowly than in 67% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.

Nearby, Muse 74949 (100% sold over asking) and Arkoma 74901 (33% sold over asking) are even more competitive.

Run the numbers for 74951

Prefilled for 74951Can I win this house?Multiple-offer likelihood for a listing Prefilled for 74951Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Arkoma 74901Seller’s market $118 /sq ftBokoshe 74930Seller’s market $127 /sq ftCameron 74932Balanced $157 /sq ftHeavener 74937Buyer’s market $94 /sq ft Browse all markets →

Towns like Panama nearby

Find towns like Panama in other states →
Howe, OK74940 · 14 miles away84% similarlarger · more homeowners Roland, OK74954 · 22 miles away82% similarpricier homes ($33K more) · larger Arkoma, OK74901 · 18 miles away79% similarcheaper homes ($41K less) · 8 min shorter commute Keota, OK74941 · 15 miles away78% similarcheaper homes ($29K less) · larger

Where Panama is

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Questions about Panama real estate

How fast do homes sell in Panama?

The typical home went under contract in 69 days in the latest three months.

Do homes in Panama sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 100.0% of the list price.

What are property taxes in Panama?

About 0.62% of a home’s value a year in Le Flore County, or roughly $2,480 on a $400,000 home.

What is the median home price in Panama?

The median sale price was $147,436 in the three months ending August 31, 2026, about $126 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