A buyer researching Sherman right now runs into two cities that don't seem to belong to each other. One is the semiconductor headline: Texas Instruments cut the ribbon on its first 300mm fab in December 2025, GlobiTech is up and running, and Governor Abbott keeps showing up at press conferences. The other is the Redfin page, where the median sale price is down year over year, homes sit for months, and a third of listings take a price cut before they close.
Both are true. The gap between them is the whole story, and it is the reason a buyer who understands the mechanism can write a different offer this summer than one who reads only the press releases.
The number that stops the boomtown story cold
The Sherman housing market is not very competitive. The median sale price of a home in Sherman was $285K over the last three months, down 8.1% since the same period last year. The median sale price per square foot in Sherman is $159, up 0.6% since last year. That was Redfin's read as of May 2026.
Go back one month and the friction is even clearer. Redfin shows Sherman at 111 median days on market in March 2026, with homes selling about 3% below list price on average. Only 3.1% of homes sold above list, while 33.5% had price drops.
Those are not seller's-market numbers. They are the numbers of a market where a buyer has time to read the disclosure twice, order a second bid on foundation work, and counter with a repair credit instead of a price cut. And they sit inside the same city where Texas Instruments' $40 billion semiconductor factory began production this week in Sherman. In May, Texas Instruments Inc. completed the first of four planned semiconductor plants at its 1,200-acre site off U.S. 75 in Sherman.
Zoom out to nearby North Texas and the value gap is what a relocating buyer really wants to see:
| City (March 2026 median sale price) | Price |
|---|---|
| Sherman | $290,500 |
| McKinney | $485,000 |
| Celina | $518,995 |
| Frisco | $708,225 |
| Prosper | $790,000 |
Those comparisons come from Redfin: as of March 2026 a median sale price of $290,500 in Sherman, with median sale prices of $708,225 in Frisco, $485,000 in McKinney, $790,000 in Prosper, and $518,995 in Celina. A Sherman buyer is paying somewhere between 40% and 63% less than the buyer twenty-five miles south, in a metro whose manufacturing base just doubled.
Something is not adding up in the standard "jobs create demand creates prices" story. The mechanism is worth spelling out, because it dictates how long the discount lasts.
Why the fab isn't in the median yet
Semiconductor fabs don't hire a workforce the day the ribbon is cut. They hire to a production ramp that is set by customer demand, not by construction milestones. TI has been explicit about that. The new facility, called SM1, will ramp according to customer demand, ultimately producing tens of millions of chips daily that go into nearly every electronic device.
The full jobs picture is a multi-year build. TI says the Sherman mega-site could eventually include up to four connected fabs and support as many as 3,000 direct jobs, with thousands more in support industries. GlobalWafers America also officially opened in Sherman in May 2025 and stated that it expects up to 650 engineering, technical, and operational jobs by the end of 2028.
That is a slope, not a spike. A relocation package for a process engineer in July 2026 does not exist yet if TI's SM1 is still ramping analog power production for its first customer cohort. It exists in 2027, 2028, 2029. Meanwhile the pay band those jobs will eventually anchor is real: HUD reported that manufacturing makes up 12% of nonfarm payroll jobs in the metro, and semiconductor and other electronic components manufacturing averaged about $146,400 in annual pay in 2022.
So the demand-side story is a slow curve pointed up. Now look at the supply side.
The 6,000-home pipeline is the other half of the answer
When Sherman's mayor sat down with the Dallas Business Journal to describe the growth planning, he gave a number that most out-of-market buyers never see. Right now, we have in excess of 6,000 homes either under construction or about to be under construction in the city of Sherman. We understand that in late 2024 there is going to be some production commencement at TI. Global Wafers is mirroring that kind of schedule as well. So it's quick.
Six thousand homes in a city of roughly 45,000 residents is a lot of new roofline delivered to the same MLS at once. Construction financing does not pause for a hiring ramp; it delivers when it delivers. The result is exactly the pattern the current data shows: rising inventory, longer days on market, and a builder-heavy new-construction segment that pulls resale sellers into concessions they didn't need to make in 2022.
The Texas Real Estate Research Center puts a number on that competitive pressure statewide. In the post-pandemic housing landscape, sellers of existing homes have increasingly faced competition from builders, who have been more aggressive in offering affordability adjustments to attract buyers. As new construction pivots toward more lower-priced and attainable homes, the price gap between new construction and existing homes has narrowed considerably, making new builds more competitive and accessible to a broader pool of buyers. Over the past 12 months, the average difference between median-priced new builds and median-priced resales has fallen to an all-time low of $15,500.
Fifteen thousand dollars is inside most buyers' rate-buydown budget. A resale seller in Sherman today is competing directly with a builder standing next to a sign that says the mortgage rate is 5.25%.
What this changes about writing an offer this summer
Sherman is a market where the supply curve is delivering ahead of the demand curve, and that gap is where a buyer's leverage lives.
A few things flow from that for anyone within ninety days of writing a contract.
Price the resale against the builder, not against last year's comp. A 2024 sale two doors down is not the ceiling. The floor is what the builder around the corner is willing to net after rate buydowns, closing-cost credits, and standard-finish upgrades. On a resale, that math becomes a straight price reduction or a repair credit.
Use the option period like you mean it. Texas gives buyers a paid termination window early in the contract. In a market where only 3.1% of homes sold above list, while 33.5% had price drops. That points to a market where buyers may have more time to evaluate options, compare homes, and negotiate terms, a thorough inspection almost always produces re-negotiation room, not a lost deal. Foundation, HVAC age, roof, and drainage are the four to spend inspection dollars on in Grayson County soils.
Watch the two data sources fight each other. They tell you different things. Redfin, which reads recorded MLS sales, shows the market softening. Zillow's home value index, which smooths across estimated values, has the average Sherman home value is $260,291, up 3.1% over the past year. The divergence is the point: transaction data is where buyers negotiate; estimator data is where owners set expectations. When those two lines separate, sellers are asking prices the market is no longer paying.
Take the days-on-market as an invitation, not a warning. Homes sell in 74.5 days. Multiple offers are rare. The average homes sell for about 3% below list price and go pending in around 75 days. That is a decision window, not a red flag, for a buyer with a multi-year horizon.
Where the growth is actually landing
If the medians look soft citywide, the corridors do not. The industrial and retail investment is stacking against specific stretches of road, and land brokers are watching those first.
- US-75 north-south spine, anchored by the TI mega-site off US-75 and the GlobiTech campus.
- FM 1417 and the Sherman Crossroads intersection at US-75, where the city is layering retail into what was pasture. A new Starbucks cafe and a Chipotle restaurant are already under construction, and a Chick-fil-A and a Braums are next in line. A second national restaurant slot is filling this summer as well: the restaurant chain Applebee's is coming to Sherman, Texas. The location is set to go on US 75 inside the existing IHOP restaurant. According to parent company Dine Brands, it will be a dual-branded restaurant combining both chains at one location.
- Shepherd Drive and Interurban Parkway, and Highway 289 near North Texas Regional Airport, where the largest land tracts are trading. The strongest visible activity appears along US-75, near the TI and GlobalWafers corridor, around Shepherd Drive and Interurban Parkway, near FM 1417 and the airport area, and along Highway 289 near North Texas Regional Airport.
- Downtown and adjacent historic pockets, including Fairview Terrace and Crockett, where housing stock and lot character are different from the new subdivisions and price differently as a result.
For an investor or a buyer thinking about acreage, the shape of the land market has shifted too. One important shift is that smaller parcels appear to be playing a bigger role in the market. In Sherman's current listing mix, the most visible clusters are under 1 acre and between 1 and 5 acres. Frontage and utility access on those smaller tracts are doing more work than raw acreage counts.
Who this market actually rewards
The buyer profile that fits current Sherman is specific. A household with a multi-year horizon, comfort with a longer resale timeline than Frisco would offer, and a willingness to price against builder concessions instead of dreaming about 2022 comps. In exchange, that buyer gets an entry price 40% or more below Collin County, inside a metro base that already runs 55,000 nonfarm jobs in April 2026, including 8,500 jobs in manufacturing and 8,500 in government, with a 3.9% unemployment rate, and a hiring ramp that is contractually committed at TI and GlobalWafers.
The employer bench is not a one-company town either. SEDCO's major employers list includes Tyson, Sherman ISD, Carrus Hospital, the City of Sherman, Texas Instruments, Grayson County, Coherent, GlobiTech, and GlobalWafers, along with logistics, retail, and manufacturing employers. Coherent, worth watching separately, picked up a Texas semiconductor innovation fund grant in February 2026.
FAQ
If prices are down year over year, is this a falling market? It is a softening market with a hard demand floor building underneath it. The near-term direction depends on how fast builders slow starts to match absorption. The multi-year direction is tied to fab hiring, which is committed but slow.
Should a buyer wait until the fabs are fully staffed? Waiting is a bet that price gains will beat two to three years of rent plus the cost of a rate you cannot lock today. That math is personal, but the current window is the one where a buyer has negotiating room. Multi-offer situations are the exception, not the rule.
What is the biggest inspection issue specific to Grayson County? Expansive clay soils make foundation performance the single item most worth paying a specialist to evaluate, along with drainage away from the slab. Both are fixable, but only if the option period is used for them.
Is new construction or resale the better value right now? It depends on the specific builder incentive. When the resale-versus-new gap is near $15,500 statewide and a builder is offering a rate buydown, the effective monthly payment on new construction can beat resale even at a nominally higher price. Run both numbers before you fall in love with either.
If you're weighing a Sherman purchase against Frisco or McKinney, or trying to price a resale that has to compete with the builder down the street, Texas Life Real Estate can walk you through the corridor-by-corridor picture and help you write the offer this market actually rewards. Request Your Free Home Valuation to start with your own address.
