76680
Waco, Texas

ZIP code 76680 presents a contradictory market profile with a median sale price of $140,000 holding flat year-over-year despite extended market times. Homes are averaging 313 days on market, nearly ten times the typical market velocity, yet all properties are closing above list price. This unusual combination suggests extremely limited inventory where the few available properties command pricing power, but broader demand remains constrained. The market operates at low volume with high conversion rates for listed homes.

This environment favors patient sellers willing to wait for qualified buyers and disadvantages those needing quick liquidity. The 100% above-list closing rate indicates sellers can maintain firm pricing expectations, though the 313-day absorption period requires financial flexibility to carry properties. Buyers face minimal competition once committed but have extended timeframes to conduct due diligence and negotiate terms. Investors seeking cash-flowing rentals at sub-$150,000 entry points may find opportunities if they can tolerate acquisition timelines approaching one year.

The PropIQ score of 75 signals neutral conditions with monitoring required, aligning with the flat price trajectory and suggesting neither appreciation nor depreciation pressure in the near term. The extended days-on-market metric bears watching as any contraction toward 100 days would indicate strengthening demand and potential upward price movement. Conversely, expansion beyond 350 days would likely pressure the current above-list pricing dynamic and force seller concessions despite the median holding steady through January 2025.