This market is white hot right now. I've been looking in the Tulsa area, and it's rare for anything to sit on the market for more than a few days without a "pending" marker going on it. I saw an ad for a burned-out hulk in Tulsa (IIRC, north of the BA, but south of 244) that had a $30K tag on it. My brother knows some people who put their house on the market and had eight offers over asking by the end of the day, including one that was $40K(!) over the asking price with a contingency they would pay that much even if the appraisal didn't come out that high.
I'm thinkin' the offer wasn't the only thing that was high, but hey, it's not my money.
If you look on Zillow there is usually 14k+ homes for sale. There is currently about 900 and most of them are over $500k.