76706
Waco, Texas

The 76706 ZIP code reports a median sale price of $311,000 as of February 2026, representing an 11.1% year-over-year increase that outpaces national averages. Homes are spending 97 days on market, indicating moderate absorption rates rather than the rapid turnover seen in hotter markets. Only 19% of properties are closing above list price, suggesting sellers maintain some leverage though competitive bidding remains limited to roughly one in five transactions.

This environment favors patient buyers with financing secured who can negotiate during the three-month marketing window most properties experience. The 81% of homes selling at or below list price creates room for offer strategies below asking, particularly on properties exceeding the 97-day benchmark. Sellers with equity captured from the 11.1% annual appreciation can exit profitably, though those expecting bidding wars will find conditions misaligned with that expectation given current absorption metrics.

The PropIQ score of 66 signals caution, indicating underlying fundamentals that may not support continued double-digit appreciation at the current 11.1% pace. Price growth approaching this velocity while days on market extend toward 100 suggests demand is softening relative to supply increases. Monitoring monthly inventory additions and any extension beyond the current 97-day average will indicate whether this market transitions from moderate growth to price stabilization through 2026.