76661
Waco, Texas

ZIP code 76661 in Waco presents a severely contracted market with a median sale price of $67,000, down 67.2% year-over-year as of February 2026. Homes average 91.5 days on market, indicating sluggish absorption rates in this price tier. Only 13% of properties sold above list price, confirming weak buyer competition and limited bidding pressure. This dramatic price correction suggests either fundamental market restructuring or significant distress-driven inventory entering the market.

Value-oriented investors with cash positions and extended hold horizons stand to benefit most from current conditions at the $67,000 entry point. Sellers face considerable headwinds with the 67.2% decline eliminating equity for recent purchasers, making exits challenging without accepting losses. The 91.5-day marketing period and minimal above-list sales indicate buyers control negotiation leverage, creating favorable conditions for patient purchasers willing to conduct thorough due diligence on individual properties.

The PropIQ score of 55 signals caution, reflecting uncertainty about price stabilization and market trajectory. Monitoring quarterly price movements will be critical to identifying whether the 67.2% decline represents a one-time correction or ongoing deterioration. The 13% above-list metric and extended days-on-market figure suggest prices may continue softening until inventory clears or new demand catalysts emerge in this submarket.