Published October 2, 2026 in Market Update

In Southlake, Half the Homes for Sale Already Cut Their Price

By Amy Spock

Real estate, Custom Data CSV

People feel like this market is still firmly in sellers' hands. And by one measure, they are right. At the pace homes have been selling, every one of the 106 homes for sale right now would be gone in 3.7 months. Anything under 4 months favors sellers. So yes, the edge is real. But when I got into the numbers, I found something that changes how you should use that edge.

Half the homes for sale have already dropped their price, and the typical cut is $102,500.

That is the part that does not show up in the headline. Of the 106 homes for sale right now, 54 of them, which is 50.9%, have already come down from what they first asked. The typical drop is $102,500. Across all 54 homes, sellers have cut a combined $13,387,500. The biggest single cut is $4,249,999, on a home on Bob Jones Road. A seller's market does not protect you from a bad price. The 3.7 months of supply tells you demand is there. The price cuts tell you buyers will wait for the right number.

In Southlake, homes that sold in their first month got 98.8% of what they first asked. The ones that waited gave back 94.1%.

52 homes sold in their first month on the market. The typical one sold in 9 days and got 98.8% of what it first asked. That is nearly the full price, with almost no waiting. The 13 homes that took a second month to find a buyer averaged 37 days and got back only 94.1% of their first price. That gap, 98.8% versus 94.1%, is the cost of starting too high. The data does not tell me why each home sat. But the pattern is clear: the ones that moved fast got close to what they asked, and the ones that waited gave more back.

The under $1.25M range is selling the fastest, with a typical 11 days to find a buyer.

Not every price range moves the same way. Homes that first asked under $1.25M sold in a typical 11 days and not one of them gave up without a sale. The $1.25M to $1.75M range sold in 15 days and got 97.6% of the first price. Above $1.75M, the typical home took 23 days and gave back a little more. The week-by-week numbers make the point even sharper: homes that sold in their first week got 99.6% of what they first asked. Homes that found a buyer in week two actually hit their full asking price on the typical sale. Speed and price are connected, and the connection is strong at every price point in this market.

What this means if you are selling or buying right now

If you are selling, the supply number is on your side, but it will not save a price that is too high. Half the competition has already cut. The sellers who got the most money priced it right on day one and were under contract inside two weeks. In September, 33 homes came on the market and 33 went under contract. Demand is real. But buyers in this market are doing the math, and they will wait. The mortgage rate right now is 7.28%, up from 6.34% a year ago, according to Freddie Mac's weekly survey. At that rate, buyers are watching every dollar. A price cut after 30 days costs more than pricing it right from the start.

If you are buying, the 3.7 months of supply means you are not in a wide-open field. There are 106 homes to look at, and the well-priced ones are going fast. The last bidding war in this data went under contract on August 29, on a home on Brazos Drive, and it closed $86,000 over its asking price. There have been 9 more contracts since then, but those sales have not closed yet so the final numbers are not in. Bidding wars are not gone. They are just less common than they were. If you find the right home at the right price, move with intention.