Sherman, TX

The local real estate market is Cooling. While active listings have contracted year-over-year, median listing prices are experiencing notable depreciation, and an increasing share of properties are undergoing price reductions. The pending ratio indicates a more tempered market dynamic.

The median listing price has declined 12.9% year-over-year to $256,999. Active listings are down 15.6% over the past year, totaling 135 properties, while new listings have seen a robust 28.6% increase year-over-year. Median days on market have decreased by 11.3% to 63 days. Notably, the share of price-reduced listings is currently 18.0%, reflecting a 5.4% decrease year-over-year. The pending ratio stands at 0.36, indicating a slight year-over-year increase of 1.3%.

Despite a reduction in available inventory, the observed price depreciation and the increased share of price reductions suggest a market where pricing discipline is increasingly critical. The pending ratio indicates a more balanced pace of transactions relative to available stock, rather than rapid absorption, implying greater negotiating leverage for buyers.

The average listing price of $350,123 significantly exceeds the median listing price of $256,999, indicating a segmentation where higher-priced properties command a premium. The median price per square foot is $164.