76116
Fort Worth, Texas

The 76116 ZIP code shows significant price compression with the median sale price at $295,000, down 15.6% year-over-year, marking one of the steeper declines in the Fort Worth metro area. Homes are averaging 70 days on market, well above the regional velocity benchmark, while only 11% of properties sell above list price. This configuration indicates a decisive shift from the seller-dominated conditions of previous years, with buyers now holding pricing leverage across most transaction negotiations.

Cost-conscious primary residence buyers gain maximum advantage in this environment, particularly those with pre-approved financing who can move quickly on price-reduced inventory. The 70-day DOM creates negotiation windows that favor patient buyers willing to submit below-ask offers. Sellers face headwinds and should expect longer marketing periods and potential concessions, while income-focused investors may find stabilized rental opportunities if acquisition costs justify local rental yields given the price correction.

The PropIQ score of 55 signals caution rather than distress, suggesting continued price discovery rather than immediate recovery. Monitor absorption rates and whether DOM extends beyond 75 days, which would indicate additional downward price pressure. The sub-15% above-list sale rate suggests buyer hesitation persists, and any score movement toward 60 would require DOM compression and stabilized month-over-month pricing before confirming a bottom formation.