Corsicana, TX

The local housing market in ZIP code 75109 is currently characterized as Very Weak. Despite a notable year-over-year increase in median listing price, this is set against a backdrop of declining active listings, flat new listings, and a significantly low pending ratio, indicating subdued demand.

The median listing price has increased by 1.7% month-over-month and 29.1% year-over-year, reaching $735,400. Active listings have seen a slight year-over-year decrease of 2.7%, totaling 36 properties, while new listings remained stable year-over-year at 8. Median days on market extended to 76, a 5.6% increase over the past year. The median price per square foot increased by 11.5% year-over-year to $264. The pending ratio is notably low at 0.08, representing an 18.7% year-over-year decline, reflecting a significant imbalance between supply and demand.

The very low pending ratio and extended days on market indicate significant downward pressure on price discipline for sellers. The low volume of active listings might suggest limited options for buyers, but the lack of properties going under contract implies that current price expectations are misaligned with market appetite. Buyers may find increased leverage in negotiations due to the slow pace of transactions and reduced competition.

The average listing price of $846,659 is substantially higher than the median listing price of $735,400, reflecting a concentration of higher-value properties within the total inventory. However, the median price per square foot at $264 suggests that even at the higher end, price discipline may be tested given the overall market conditions.