76632
Waco, Texas

The 76632 ZIP code shows a stalled market with a $425,000 median sale price holding flat year-over-year, signaling zero appreciation over the past twelve months. Properties are sitting an average of 207 days before selling, nearly three times the typical market absorption rate for healthy metros. Most telling, zero percent of homes are selling above list price, indicating buyers hold complete negotiating leverage and sellers are meeting the market rather than exceeding expectations.

This environment favors patient buyers with financing certainty who can afford extended due diligence periods and negotiate below-ask transactions. Cash investors seeking long-term holds may find opportunities, but the 207-day absorption period suggests weak rental demand or overleveraged pricing that hasn't corrected. Sellers facing must-move situations are disadvantaged, while discretionary sellers should wait for market signals to improve before listing into this buyer-dominated landscape.

The PropIQ score of 45 signals caution, reflecting weak demand fundamentals that could persist through early 2025. Without price corrections or demand catalysts, the extended days-on-market metric may worsen before improving. Monitoring month-over-month listing inventory and any movement in the zero-percent above-list metric will indicate whether this market finds a bottom or requires price discovery through seller capitulation.