Morningstar Market Pulse: Prices Drop 7.8% in Six Months

Median home prices in Morningstar have fallen to $332,000 across 31 closed sales in the rolling six months ending October 31, 2026. This represents a 7.8% decline compared to the prior six-month period and a 7.3% drop from the same window last year. While prices softened, homes are selling much faster than before, with the median days on market dropping to 35 days, down 63.2% from the previous half-year. ALEX Intelligence analyzed the closing data to show that buyers and sellers are negotiating closer to the original list price. The median close-to-original list ratio rose to 95.6%, up 3.4% from the prior period, indicating a shift toward more balanced negotiations compared to the 92.5% seen previously. Despite the lower prices, the market remains active with 37 homes currently for sale and 7.16 months of inventory available. New construction activity has slowed significantly in this community, with zero new-construction closings recorded in the current six-month window compared to 20 in the prior period. The median home size sold also decreased slightly to 1,826 square feet, down 7.8% from the previous period. Current mortgage rates stand at 7.24%, according to the Freddie Mac Primary Mortgage Market Survey for the week of October 29, 2026. 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