ShadowGlen: How Mortgage Rates Shape Buying Power Today

What does a 7.32% mortgage rate mean for a buyer in ShadowGlen today? With the median closed price at $399,000 across 36 sales over the last six months, monthly principal and interest payments sit at roughly $2,193 without any rate reduction. ALEX Intelligence modeled two common buydown options to show how they shift cash flow. A 3-2-1 buydown costs $14,880 upfront but lowers the first-year payment by $610 per month and the second year by $417. A 2-1 buydown costs $7,560 and reduces payments by $417 in year one and $213 in year two. These figures assume a 20% down payment on the median price and are estimates based on current market rates, not appraisals. The data shows that while prices have held steady compared to last year, the cost of borrowing has risen. Median days on market dropped 34.9% versus the prior six-month period, suggesting buyers who can secure financing are moving quickly. However, the share of homes selling below original list price remains high at 75%, indicating that negotiation leverage still exists for those who can manage their monthly costs. For buyers weighing a buydown against a higher purchase price or a different neighborhood, understanding these payment shifts is essential. The median living area has grown to 2,543 square feet, offering more space as prices adjust to the current rate environment. Want a closer look? Reply or call George at 713.918.9951 and we'll set up a showing. Data from Unlock MLS. Information deemed reliable but not guaranteed. Model outputs are ALEX Intelligence estimates, not appraisals. Read more Central Texas market data on the ALEX blog: https://alex-companies.com/blog