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

Median home prices in Morningstar dropped to $332,000 over the past six months, down 7.8% from the prior period and 7.3% lower than the same window last year. This decline occurred across 31 closed sales, a volume that represents a significant slowdown compared to the 43 transactions in the previous six-month window and the 65 closings recorded a year ago. ALEX Intelligence analyzed the data to show that while prices softened, market efficiency improved. The median days on market fell sharply by 63.2% to 35 days, indicating homes are selling faster now than they did in the prior six-month period when it took 95 days. Additionally, sellers received a higher percentage of their asking price, with the close-to-original list ratio rising to 0.956 from 0.925 previously. The current inventory level stands at 36 active listings, creating approximately 7 months of supply based on recent sales velocity. This suggests a market that is shifting away from the tight conditions seen earlier in the year. The median home size sold was 1,826 square feet, slightly smaller than the 1,981 square feet typical of the prior period. While the broader region and Williamson County saw median prices of $400,000 and $375,000 respectively, Morningstar remains an entry-level option with a current median price of $332,000. The data reflects a cooling in transaction volume but a stabilization in pricing dynamics for the remaining six months of the year. 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