Denison, TX

The current market condition for this ZIP code is assessed as Very Weak. Significant year-over-year price depreciation across median listing price and median price per square foot, coupled with an increasing median days on market and a low pending ratio, indicates substantial market softness.

Over the past year, the market has experienced considerable price contraction, with the median listing price declining by -17.8% and the median price per square foot falling by -10.7%. Despite this, the median days on market has increased by 20.3%, indicating a slower pace of transactions. While active listings have decreased by -19.8% year-over-year, and new listings remained flat, the low pending ratio of 0.17, though up 3.4% year-over-year, suggests limited demand relative to available inventory. The share of price-reduced listings has decreased by -11.1% over the past year, standing at 20.6% currently.

In this Very Weak market, the protracted median days on market suggests a diminished sense of urgency for buyers, allowing for greater price discipline. The low pending ratio indicates that available inventory is not being absorbed quickly, placing downward pressure on pricing and offering buyers significant negotiating leverage. For sellers, the current environment necessitates strategic pricing and patience, as market velocity remains low.

The significant spread between the median listing price of $229,900 and the average listing price of $327,663 indicates a pronounced luxury segment within this ZIP code. The median price per square foot currently stands at $170, with the higher-end properties likely transacting at a premium to this figure, albeit within a broader context of year-over-year price declines.