Texas, once a prime destination for homebuyers during the pandemic, is now experiencing a shift in its housing market. Four Texas cities—Sherman, Austin, San Antonio, and Dallas—have emerged as the nation's "most motivated" seller markets, according to data from Parcl. This designation means that more than half of home sellers in these areas are discounting their properties below the original asking prices to attract buyers.
Sherman, a city north of Dallas, led the list with a motivated seller index of 7.47. In Sherman, over 55% of sellers reduced their listing prices, with a median price cut of nearly 6%. Approximately 8% of these listings were priced below the original asking price.
Austin, which has faced challenges with housing oversupply due to a surge in construction between 2021 and 2023, ranked third. Here, 54.4% of sellers have lowered their prices, with a median discount of 5.4%. A separate analysis by Realtor.com indicated that Austin has seen the steepest home price drop among major U.S. metros since 2022, and a report from Clever Real Estate and Best Interest Financial identified it as the slowest-selling housing market nationally.
San Antonio and Dallas followed, ranking fourth and fifth respectively. In San Antonio, over 54% of sellers offered discounts, with a median cut of 5% and 8% of listings priced below the original ask. Dallas saw 53% of sellers discount their homes, with a median cut of 4.5% and 8.9% of listings priced below their original asking price.
Kingsport, Tennessee, was the only city outside of Texas to be included in the top five most motivated seller markets.
Conversely, Rochester, New York, was identified as the least motivated seller market. In Rochester, only 16% of sellers were cutting prices, with a median cut of 7% and 4.5% of listings priced below the original ask. Parcl described Rochester's market as "neutral."