Leonard Home Values

Leonard's median sale price pulled sharply away from the county this quarter, closing near $526,000 — more than seventy percent above the Fannin County median — even as price per square foot inched up to about $200 from a trailing-year average near $195, based on MLS data for September 2026 closings in Leonard. For a third straight month, that gap between the two metrics directionally points to a shift in the mix of homes selling rather than a genuine repricing. Sellers also gave ground more often than their countywide counterparts: concessions touched roughly six in ten closings, nearly double the Fannin County rate, and the average giveback climbed to almost $14,000, while closings ran slower than the county's typical pace.

Leonard's supply overhang remains proportionally tighter than the county's: months of supply held near twelve, well below Fannin County's reading of about twenty, even as pending contracts slipped to just two against sixty-seven new listings — a ratio of absorption far weaker than the raw supply comparison alone would suggest. That imbalance, continuing a stretch of months in which new inventory has outpaced signed contracts, directionally tempers what the county-relative figure implies about Leonard's relative position, leaving near-term momentum thin despite the comparatively favorable supply reading.

Even as price per square foot in Leonard pushed to a new high near $201 this quarter, closings stretched to a median 84 days, about a week beyond the trailing-year pace, based on MLS data for August 2026 closings in Leonard. The median sale price followed, jumping to about $475,000, well above the trailing-year median near $344,000, a gap that likely reflects a shift in the mix of homes closing rather than a broad repricing. Sellers kept giving ground at the table: concessions touched roughly six in ten closings, up sharply from about half last quarter, and the average giveback grew to nearly $15,000. Six in ten transactions closed below list, unchanged from last quarter.

Leonard's pipeline pointed toward a step back in pace this quarter: pending contracts fell to six, half last quarter's count, while active listings held near 143 and new listings kept arriving at a similar clip — a widening gap between supply reaching the market and contracts getting signed. Months of supply held near 12.6, little changed from the trailing-year average and still far above Fannin County's own elevated reading of roughly 20. Directionally, the slowdown in contract signings suggests the market's momentum is not accelerating even as pipeline pressure builds.

Price per square foot in Leonard barely moved this quarter, edging up to roughly $195 from a full-year average near $193, even as the median sale price jumped to about $430,000 — nearly 45 percent above the Fannin County median for the same quarter, based on MLS data for July 2026 closings in Leonard. The gap suggests a shift toward larger or higher-value homes closing rather than a genuine reversal of the roughly 15 percent annual price decline recorded over the trailing year. Sellers continued giving ground at the table: concessions touched about half of closings for a third straight month, and roughly six in ten transactions closed below original list, both above the year-long norm.

Leonard's pipeline offered little confirmation of the quarter's price gains. Active listings held near 140 while pending contracts numbered just twelve, an imbalance that leaves months of supply close to fourteen — modestly above the trailing-year average and still well within buyer-favorable territory, running higher than Fannin County's own supply reading. New listings continued arriving faster than contracts were signed, a pattern that has held for multiple months running. With absorption this thin, the recent jump in closed prices reads more like a shift in what's selling than a shift in what buyers are willing to pay.