Sherman Market Update: What's Actually Happening With Prices Right Now

Updated September 2026 with the latest available closed-sales and listing data.

If you have been watching the Sherman real estate market, you have probably seen conflicting headlines. Some make it sound like prices are falling fast, while others suggest Sherman is still growing too quickly for buyers to get a break.

Here is the clearer answer: Sherman has shifted into a more buyer friendly market, but it is not one market across every neighborhood, price range, and property type. Overall prices are softer than they were a year ago, buyers have more homes to choose from, and many sellers are negotiating. However, attractive homes that are priced correctly can still sell without sitting for months.

Sherman housing market at a glance

The newest public data available at the beginning of September does not all cover the exact same period, so it is important to compare like with like:

• Zillow reported a typical Sherman home value of approximately $255,400 at the end of July, down about 6.9% from the previous year.
• Zillow's most recent closed sales data showed a median sale price of approximately $273,300.
• Redfin reported a median sale price of approximately $279,800 for the three months ending in June, down about 6.7% year over year.
• Zillow counted approximately 405 homes for sale at the end of July, giving buyers considerably more choices than they had during the most competitive years.
• About 66% of recently recorded sales closed below the seller's final asking price, according to Zillow.
• Redfin reported that homes were taking a median of approximately 78 days to sell, although Zillow's separate "days to pending" measurement was closer to 41 days.

Those numbers are measuring different things, but they point in the same direction: buyers have regained negotiating power, and sellers can no longer assume that almost any price will attract an offer.

Are Sherman home prices going down?

Yes, Sherman home prices are generally lower than they were at the same time last year. Depending on the source and the measurement used, the year over year decline is currently in the mid to upper single digits.

That does not mean every Sherman homeowner has lost the same amount of value. Citywide medians combine older homes, new construction, townhomes, larger properties, investor purchases, and homes in very different conditions. A shift in which types of homes sold during a particular month can move the median even when the value of an individual property has changed much less.

The better question is not how much the Sherman median is down. It is what homes like yours, in your part of Sherman, have actually sold for recently.

Why is the Sherman market softer?

Several factors are working together.

First, buyers have more inventory. They do not have to make a decision after seeing one acceptable house because another option may come on the market next week.

Second, mortgage rates continue to affect affordability. Even when a home's price is lower, the monthly payment remains the deciding factor for many buyers.

Third, Sherman sellers are competing with new construction builders. Builders may offer closing cost assistance, interest rate incentives, appliance packages, or price reductions that a resale seller cannot match in exactly the same way. A resale home can still compete, but its price, condition, location, lot, and move in readiness have to make sense next to those builder offers.

Finally, buyers have become more selective. Homes with dated finishes, deferred maintenance, difficult layouts, foundation concerns, drainage issues, or an ambitious asking price are more likely to sit while better positioned properties sell.

What this market means for Sherman buyers

This is a better market for buyers than Sherman experienced during the peak bidding war years. You are more likely to have time to compare properties, complete inspections, request repairs, and negotiate price or closing costs.

That does not mean every seller will accept a low offer. The strongest negotiating position usually comes from understanding why a particular home has not sold. Has it been overpriced? Does it need repairs? Is it competing directly with a builder incentive? Did a previous contract fall through? The answer should shape the offer.

Buyers should also compare the entire cost of ownership, not just the list price. Property taxes, insurance, HOA dues, utility costs, possible MUD or PID assessments, maintenance, and the mortgage rate can all change the monthly payment. With new construction, incentives should be compared carefully with the price and loan terms available from an outside lender.

The opportunity right now is not necessarily finding the cheapest house in Sherman. It is finding a well located property where the price, condition, financing, and long term plans all work together.

What this market means for Sherman sellers

Sellers can still get a strong result, but pricing strategy matters from the first day.

The biggest mistake in this market is starting too high with the idea that you can reduce the price later. When buyers have plenty of options, an overpriced listing can lose its initial visibility, accumulate days on market, and eventually make buyers wonder what is wrong with it. A later reduction may not recreate the attention the home would have received if it had entered the market at a realistic price.

Condition also matters more now. Buyers compare a resale home not only with nearby resales but also with new homes offering fresh finishes and builder incentives. Small repairs, clean presentation, professional photography, thoughtful staging, and easy showing access can influence whether a buyer chooses your home or the one down the street.

Sellers should also prepare for negotiation. Because a large share of homes are closing below the final asking price, it is wise to discuss possible repair requests, closing cost contributions, rate buydowns, and appraisal issues before an offer arrives. That does not mean agreeing to every request. It means knowing your priorities and your minimum acceptable outcome in advance.

Is Sherman a buyer's market right now?

Overall, Sherman currently leans toward a buyer's market because supply is greater and buyers have more leverage than they did a few years ago. However, that label can be misleading when applied to every property.

A clean, updated home in a desirable location and competitive price range may receive attention quickly. A similar home priced above recent comparable sales may sit much longer. New construction can behave differently from established neighborhoods, and the market for an entry level home is not necessarily the same as the market for acreage or a custom property.

That is why a citywide statistic should be the beginning of the conversation, not the final answer.

Should you buy now or wait?

Waiting only makes sense if it improves your personal situation. No one can guarantee that prices or mortgage rates will be lower at a particular point in the future.

If you are financially ready, expect to stay in the home long enough to absorb normal market changes, and find a property that fits your payment and plans, the current negotiating environment may create opportunities. If your employment, down payment, credit, or future location is uncertain, waiting may be the more responsible choice.

The goal is not to perfectly time the bottom of the Sherman market. The goal is to make a purchase that remains comfortable even if the market moves again.

Should you sell now or wait?

That depends on why you are selling, what you owe, where you are going next, and how your home compares with current competition.

If you bought several years ago, you may still have substantial equity despite the recent year over year decline. If you purchased near the top of the market or recently completed expensive improvements, the numbers may require a more careful review.

Before deciding, ask for a property specific market analysis based on recent closed sales, current competition, builder activity, and the condition of your home. An online estimate cannot see your updates, lot position, street, floor plan, maintenance, or the buyer objections that may affect the final price.

The bottom line

Sherman is no longer the frantic seller's market buyers remember from a few years ago. Prices have softened, inventory has grown, and negotiation is common. That creates more opportunity for buyers, but it also raises the cost of mistakes for sellers who overprice or underprepare their homes.

For buyers, this market rewards patience, careful comparisons, and a well structured offer. For sellers, it rewards accurate pricing, strong presentation, and a strategy based on today's competition rather than yesterday's headlines.

If you are considering buying or selling in Sherman, I can help you look beyond the citywide numbers and evaluate what is happening in the neighborhoods and price range that actually matter to you.

Call or text Amanda Phillips at 903.267.9704 for a local Sherman market analysis or a personalized home search.

Frequently asked questions about the Sherman housing market

Are home prices dropping in Sherman, Texas?

Sherman home prices are currently lower year over year based on multiple public market measurements. The change for a specific home can be very different from the citywide average, depending on its neighborhood, price range, age, condition, lot, and competition from new construction.

How long does it take to sell a house in Sherman?

Recent citywide data shows that the typical Sherman home can take several weeks to a few months to sell. Correctly priced homes in good condition may move faster, while overpriced properties or homes needing significant work can remain available much longer.

Are Sherman sellers accepting offers below asking price?

Yes. Recent data shows that a majority of recorded sales closed below the seller's final asking price. The amount of negotiation varies by property, competition, condition, time on market, and whether the seller has already adjusted the price.

Is now a good time to buy a home in Sherman?

It may be a good time for financially prepared buyers because inventory is higher and negotiation is more common. The decision should still be based on the buyer's payment, expected length of ownership, financial reserves, and long term plans, not solely on a market forecast.

Is now a good time to sell a home in Sherman?

Homes are still selling, but sellers need a realistic pricing and marketing strategy. The best way to decide is to compare the home with recent sales, active listings, pending properties, and nearby new construction incentives.

Data sources and methodology

Market figures were compiled from the latest publicly available Sherman data at the beginning of September 2026. Zillow figures were updated through July 31, 2026, with some closed sale measures reported through June. Redfin's latest citywide figures covered the three months ending June 2026. The sources use different methodologies, so median sale price, typical home value, days on market, and days to pending should not be treated as interchangeable.

Real estate market conditions and financing options can change. This article provides general information and is not a guarantee of future prices, property values, loan approval, or investment performance.

Talk soon,
Amanda