The Bubble Report — No. 3 · September 2026 | Baylor Bubble market read by David A. Harris, Sr.

107 Days the median house now for sale in the Bubble has already been listed — and it still hasn’t sold. For condos that number is 57.

On September 1 there were 73 Baylor Bubble properties for sale — 37 houses, 29 condos and townhomes, 7 multifamily — down from 78 on July 31. A year ago that same count was 50, two years ago 27, three years ago 25. Inventory here has nearly tripled in three years.

What has not moved is how much actually sells. Total sales inside the Bubble by academic year: 89, then 92, then 87 for the year that just ended. Three years, essentially flat, while the number of things for sale went up threefold. That is the whole story of this market in one sentence, and everything else follows from it. August itself produced three sales — one house and two condos — tied for the quietest August of the four years I chart. Nine properties are under contract heading into September.

Here is what that arithmetic does to sellers. Of the 37 houses for sale right now, 24 have been listed more than ninety days and 24 have cut their price — and those are not the same 24, they overlap by eighteen. Across the whole market, 38 of 73 have cut. Condos are in better shape: median 57 days on the market, 11 of 29 past ninety. Median days on market for what actually sold over the past twelve months: 59 for houses, 59 for condos, 95 for multifamily. Both are slower than a year ago, when the house median was 32 days and the condo median 39 — houses have taken much the bigger step back.

There is a harder number behind all of that. Of every Bubble listing that reached an outcome between January and August, 42 percent expired without selling — the highest share in the ten years I have data for, above even the 2017–2019 stretch before the boom, and seven times the 2022 low. The ones that expired had sat a median of 173 days first, and better than two-thirds of them had already cut their price on the way down. Cutting late does not rescue a listing that started too high. And expiring is usually the end of the story: of the 106 listings that have expired here since January 2024, only 18 percent have since sold at that address, and about half never came back on the market at all.

For parentsTwenty-nine condos to compare and better than a third have already cut their price. Speed still exists for the right listing — the fastest sale in August went under contract inside two weeks — so grind hard on anything that has sat since spring, but don’t slow-play a fresh one that is priced honestly.

For investorsSeven multifamily listings and a 95-day median to close — nobody is rushing you. Only three of the seven have been out past ninety days, so the deep discounts are thinner here than in the house market, where two-thirds of the listings have aged past ninety days and just as many have cut. That is where I would be hunting this fall.

For ownersBetter than half this market has already cut its price, and buyers are absorbing about the same number of properties they did three years ago. If you list this fall you are priced against those cuts, not against last spring’s hopes. Price it right in week one, or plan on month four and a real chance of expiring. If you don’t need to sell, nothing here forces your hand.

Counts and days-on-market only, for-sale property only — sold prices are confidential under MLS rules. A new edition publishes the first week of every month.

The charts behind this report live at BaylorRealEstate.com

Four academic years of month-by-month Baylor Bubble data — what's available and what's sold, for houses, condos, and multifamily — plus the interactive Bubble map and free listing alerts.

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Based on information from the North Texas Real Estate Information Systems, Inc., as of September 1, 2026. Data deemed reliable, but is not guaranteed accurate by the MLS or NTREIS. Statistics compiled by David A. Harris, Sr., Campus, Realtors, Kelly, Realtors. Every figure counts property for sale. Counts of what was for sale in past months are estimates reconstructed from days-on-market. The newest months are live MLS snapshots.