Sherman, TX

The ZIP code is currently categorized as Cooling. This assessment is supported by a year-over-year decline in median listing prices and an increase in time on market, alongside a modest pending ratio that suggests a more measured pace of transactions.

Median listing prices have seen a year-over-year decrease of 7.5%, with a recent monthly decline of 1.6%. Active listings have contracted by 8.5% over the past year, while new listings remained stable year-over-year. The median days on market increased by 15.9% year-over-year to 73 days, indicating properties are taking longer to move from listing to contract. The share of listings with price reductions has risen by 5.6% compared to the prior year, now standing at 29.8%.

The increasing median days on market and the higher proportion of listings experiencing price reductions suggest a market where buyers are exercising greater price discipline. The pending ratio of 0.26, while up 5.8% year-over-year, still indicates a measured pace of activity, contributing to an environment of reduced urgency for buyers. Inventory levels remain somewhat constrained with an 8.5% year-over-year drop in active listings, but this is offset by the longer time properties spend on the market, mitigating immediate pressure on available stock.

The average listing price of $396,060 significantly exceeds the median of $310,000, indicating a distinct luxury segment within the market. This spread suggests that higher-priced properties disproportionately influence the overall average. The median price per square foot is $162. While the overall market experiences price softening, the pricing dynamics at the upper end are reflected in this divergence.