Overview
As of the end of August 2026, several key metro areas across Florida and Texas are experiencing significant shifts towards buyers' markets. This trend is evident from a combination of metrics including days on market (DOM), year-over-year change in Zillow Home Value Index (ZHVI), median list price changes, and the percentage of homes with price cuts.
Key Metrics Explained
Days On Market (DOM)
- Meaning: The average number of days a home stays listed before being sold.
- Buyer's Signal: Higher DOM indicates more competition among sellers to attract buyers. Buyers can negotiate for better deals or wait until prices drop further.
Year-over-Year Zillow Home Value Index Change (% YoY)
- Meaning: Annual change in the median value of single-family homes and condos in a metro area.
- Buyer's Signal: Negative values indicate decreasing home values, which could prompt sellers to lower asking prices or offer more incentives to buyers.
Median List Price
- Meaning: The midpoint price at which half the homes are listed above and half below this value.
- Seller's/Buyer's Signal: An increasing median list price with rising DOM suggests less demand and more competition among sellers, benefiting buyers.
Percentage of Homes With Price Cuts (%)
- Meaning: The proportion of total listings that have had their asking prices reduced at least once.
- Buyer's Signal: Higher percentages indicate a willingness by sellers to negotiate or lower price expectations due to sluggish sales activity.
Metro Analysis
Naples, Florida
ZHVI: $553,831 (YoY -3.6%) Median List Price: $646,000 DOM: 92 days Price Cuts (%): 18.2% New Listings: 804
Naples stands out with a notable decline in home values and high DOM. With nearly one in five homes experiencing price cuts and homes sitting on the market for over three months, this suggests strong buyer leverage. Buyers can expect more negotiating power or time to wait for additional price reductions.
McAllen, Texas
ZHVI: $191,508 (YoY 0%) Median List Price: $258,833 DOM: 78 days Price Cuts (%): 18.2% New Listings: 551
McAllen shows stability in home values with no YoY change but higher than average DOM and significant price cuts. This is a balanced market leaning slightly toward buyers, as sellers may need to lower prices or offer concessions to attract interest.
Cape Coral, Florida
ZHVI: $337,352 (YoY -5.4%) Median List Price: $394,333 DOM: 70 days Price Cuts (%): 22.3% New Listings: 1557
Cape Coral exhibits a significant decrease in home values alongside the highest percentage of price cuts among our sample metros at over one-fifth of listings. Buyers have ample opportunity to secure deals and negotiate terms given the high DOM.
Laredo, Texas
ZHVI: $218,953 (YoY 2.5%) Median List Price: $254,967 DOM: 65 days Price Cuts (%): 16.2% New Listings: 134
Despite a small increase in home values, Laredo has above-average DOM and over one-sixth of listings experiencing price cuts. This indicates that while prices may be stable, competition among sellers is high, favoring buyers who can wait or negotiate.
Longview, Texas
ZHVI: $221,161 (YoY 0.7%) Median List Price: $299,900 DOM: 60 days Price Cuts (%): 25.4% New Listings: 299
Longview has the highest percentage of homes with price cuts at over a quarter and relatively high DOM. This signals robust buyer demand in negotiating lower prices or receiving better terms from sellers.
Conclusion
The data clearly points to Naples, Cape Coral, and Longview being particularly favorable for buyers due to significant declines in home values and high percentages of listings experiencing price reductions. Buyers in these markets have strong leverage to negotiate more favorable deals, secure discounts, or wait for further drops in prices as homes remain on the market longer than average.
On the other hand, McAllen and Laredo present slightly less buyer-favorable conditions but still offer opportunities for savvy buyers willing to wait and negotiate.