Market Report

2023 Mid-Year OKC Office Market Summary (Price Edwards & Company, Oklahoma City)

Oklahoma City’s office market has experienced a dynamic first half in 2023, offering a blend of opportunities and challenges across its submarkets. The total market vacancy rate, which measures the unoccupied space in the market, has decreased from 25.2% at the year-end of 2022 to 24.7%. On the surface this would appear to be a positive sign, however, the overall absorption for the office market was a -11,146 SF. There is generally an inverse relationship between absorption and the vacancy rate, but this relationship can be affected by the removal of office buildings from the data set that were recategorized.