Morningstar Market Recap: Sales Slow as Prices Dip in Rolling Six Months

What does a 61.6% drop in median days on market mean for buyers and sellers in Morningstar? In the rolling six months ending September 2026, homes sold significantly faster than in the prior six-month period, with the median time to close dropping from 99 days to just 38 days across 34 closed sales. Despite the speedier transactions, prices softened. The median closing price settled at $342,500, down 4.9% from the prior period and 3.5% lower than the same window last year. This decline occurred alongside a 10.0% drop in median price per square foot to $181. ALEX Intelligence analyzed the transaction data to show that while homes are moving faster, sellers are accepting offers at a lower average price point compared to previous periods. The market also saw a shift in negotiation dynamics. The median close-to-original list ratio improved to 0.954, up 5.1% from the prior period, indicating that buyers and sellers are reaching closer agreement on final prices than before. However, 88.2% of homes still sold below their original list price. Inventory remains tight with only 37 active listings, creating a months of inventory reading of 6.53, which suggests a balanced market leaning slightly toward buyers as the supply gap narrows. With 34 closed sales and 52 new listings in this window, the pace of activity has moderated compared to the prior six months where 45 homes sold. The median living area for these sales was 1,876 square feet, down 5.3% from the previous period, reflecting a trend toward smaller home sizes in recent transactions. Want to see this home? Call or text George at 713.918.9951 for a private 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