Denison, TX

The market in ZIP Code 75020 is currently classified as Very Weak. A significant year-over-year decline in median listing price (-11.2%) combined with a modest pending ratio (0.19) and high price-reduced share (27.1%) points to prevailing downward pressure. While active listings have decreased year-over-year, new listings have seen a notable increase, adding to inventory. Median days on market remain elevated at 73 days, suggesting properties are taking longer to find buyers.

The local market continues to exhibit signs of contraction, with the median listing price down 11.2% year-over-year. Although active listings are 12.7% lower than the prior year, an increase of 30.0% in new listings year-over-year has contributed to a total inventory of 281 listings. The median days on market, at 73, indicates a slower sales velocity, despite a 12.0% decrease over the past year. The pending ratio stands at 0.19, showing only a slight year-over-year increase of 3.9%, which is insufficient to absorb available inventory at a rapid pace. Furthermore, the share of listings with price reductions has increased by 1.9% year-over-year to 27.1%, suggesting sellers are adjusting expectations.

In the current environment, buyers are positioned with considerable negotiating leverage due to slower transaction paces and ample inventory relative to demand. The elevated median days on market and the high percentage of price reductions indicate sellers are facing pressure to adjust pricing in order to attract offers. With a low pending ratio and increasing new listings, sellers may experience extended marketing periods and need to exercise price discipline to achieve a sale.

The significant spread between the average listing price ($338,794) and the median listing price ($229,900) suggests a bifurcation in the market, with higher-priced properties influencing the average. The median price per square foot is $154, with a year-over-year decline of 10.7%, indicating that even at the core, pricing power has diminished.