What Does the May 2026 Housing Market Look Like in Wichita Falls?

Home prices in the Wichita Falls MSA hit a median of $222,000 in May 2026, up 18.7% from a year ago, while the number of homes for sale dropped by nearly a quarter. That combination, more buyers chasing fewer listings, is the story of our market right now. If you’re stationed at Sheppard AFB and got orders, or you’ve lived in this town for twenty years and are wondering what your house is worth, here’s what the numbers actually mean.

I pull this data straight from the Wichita Falls Association of Realtors and the Texas Real Estate Research Center at Texas A&M every month, so you’re not getting secondhand guesses. Let’s break it down.

How Much Are Homes Selling For in Wichita Falls Right Now?

The median home price in the Wichita Falls MSA was $222,000 in May 2026, an 18.7% jump compared to May 2025. That’s one of the sharper year-over-year increases we’ve seen in the past several reporting cycles.

Back in 2019, that same median sat around $130,000. We’ve nearly doubled in price over six or seven years, and most of that growth has come from a steady mix of military relocation demand, limited new construction, and the kind of population pull you get when a base, a hospital system, and a couple of major employers all need workers in the same county. Median price per square foot also climbed to $130.93, up 4.4% year over year, so it’s not just bigger houses skewing the number. Buyers are genuinely paying more per foot of space.

Are More Homes Actually Selling, or Is This Just Price Inflation?

Both things are true at once. Closed sales hit 170 homes in May, up 14.1% from the previous year, so transaction volume is climbing right alongside price.

That matters because it tells you this isn’t a thin market where a handful of high-dollar sales are dragging the median up artificially. We’ve got real buyer activity across price points, and the close-to-original-list-price ratio sitting at 94.6% confirms it. Sellers are getting close to their asking price on average, not slashing to make a deal happen.

Why Are There Fewer Homes for Sale in Wichita Falls This Year?

Active listings dropped to 557 in May, down 23.2% from a year earlier. Fewer sellers are putting homes on the market while buyer demand stays strong, and that gap is what’s pushing prices up.

Part of this comes down to rate-locked homeowners who refinanced or bought when rates were lower and aren’t eager to give that up. Part of it is straightforward supply: Wichita Falls and Wichita County haven’t seen a wave of new subdivisions keeping pace with the people moving in for jobs at Sheppard AFB, the new distribution and data center projects, or the hospital systems downtown. When fewer homes list and more buyers show up, you get exactly what we’re seeing on the chart.

What Does 3.7 Months of Inventory Actually Mean for You?

Months of inventory measures how long it would take to sell every home currently listed if no new ones came on the market, and 3.7 months means we’re still in seller-favorable territory, though it’s loosening slightly. A year ago that number was higher, at 5.2 months, so the squeeze has tightened since then.

Anything under six months generally favors sellers, and under four months usually means multiple-offer situations on well-priced homes in good condition. If you’re selling, this is a window where a properly prepped home can move fast and close near asking. If you’re buying, it means you need a clear strategy going in, not just a Saturday afternoon of open houses.

How Long Are Homes Taking to Sell?

Homes in the Wichita Falls MSA are spending a median of 59 days on the market before going under contract, then another 35 days to close, for a total of 94 days from list to closing table. That’s up slightly from last year, about three days longer overall.

For context, “days on market” just means how long a house sits before someone makes an offer that sticks. A small increase here isn’t alarming. It usually means buyers are being more deliberate, getting inspections done carefully, and not rushing into homes that aren’t quite right. If you’re prepping a home to sell, expect a real estate transaction to take roughly three months start to finish, and plan your PCS timeline or move-out date with that in mind.

What Price Range Has the Most Activity in Wichita Falls?

Most of the action sits between $100,000 and $300,000. Homes priced from $100,000 to $199,000 made up 29.9% of sales, and the $200,000 to $299,000 range made up another 31.7%, together accounting for roughly six out of every ten closed sales in the MSA.

Higher-end inventory is thinner. Homes over $750,000 made up just 1.2% of sales, and nothing closed above $1 million in May. If you’re selling a home in the $200,000 to $400,000 range, you’re competing in the most active segment of the market, which cuts both ways: more buyer traffic, but also more comparable listings for buyers to cross-shop against yours.

What Should Military Families PCSing to Sheppard AFB Know Right Now?

If you’re getting orders to or from Sheppard AFB, the short version is that this is a competitive market for buyers and a strong one for sellers, so your timeline needs to account for both speed and preparation. Inventory is tight, so homes that are priced right and show well in Fountain Park, Expressway Village, or Tanglewood are moving in under two months.

I retired from the Air Force in 2013 and have personally been through multiple PCS moves, including two while deployed, so I built my whole process around the reality that you don’t have unlimited time to get a house market-ready or to shop forty listings in person. If you’re selling, that means a pre-listing plan covering repairs, staging, and photos before the sign ever goes in the yard. If you’re buying, that means lining up VA loan pre-approval and a local team who can run video walkthroughs and digital paperwork while you’re still wrapping up your last duty station.

Should You List Your Wichita Falls Home Now or Wait?

If your home is in good condition and priced based on actual closed comps, current conditions favor listing now rather than waiting. Inventory is down, demand is up, and the typical home is closing within about three months of hitting the market.

Waiting carries its own risk. If more sellers decide to list once rates ease further, that 557-home inventory count could climb back toward last year’s levels, and the seller’s advantage we’re seeing in the 3.7 months of supply would soften. Nobody can predict rate moves with certainty, but the math in front of us right now, fewer listings competing for your buyer’s attention, points toward acting rather than waiting on a market that’s already moving in your favor.

Frequently Asked Questions

What is the median home price in Wichita Falls as of May 2026? The median home price in the Wichita Falls MSA was $222,000 in May 2026, up 18.7% from the prior year, according to Wichita Falls Association of Realtors data compiled through the Texas Real Estate Research Center.

Is Wichita Falls a buyer’s market or a seller’s market right now? With 3.7 months of inventory and homes closing near 94.6% of original list price, Wichita Falls currently favors sellers, though the gap has narrowed slightly compared to a year ago when inventory ran higher.

How long does it take to sell a house in Wichita Falls? Homes are spending a median of 59 days on market before going under contract, then roughly 35 more days to close, for a total of about 94 days from listing to closing.

Are home prices still rising in Burkburnett and Iowa Park? Burkburnett and Iowa Park track closely with the broader Wichita Falls MSA trend, where median prices have risen sharply over the past year. Pricing in these areas tends to run below the Wichita Falls median, which keeps them attractive to buyers commuting to Sheppard AFB or job centers in Wichita County.

Tim Lockhart is a retired Air Force officer and REALTOR® with the Lockhart Real Estate Team, serving military families and homeowners throughout Wichita Falls, Sheppard AFB, Burkburnett, Iowa Park, and North Texas. Market data sourced from the Wichita Falls Association of Realtors and the Texas Real Estate Research Center at Texas A&M University, May 2026 report. This article is for informational purposes and is not financial, legal, or tax advice. Consult a licensed professional for guidance specific to your situation.