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Is Italy, TX 76651 a buyer’s or seller’s market?

Balanced 3 months ending August 31, 2026 · Source: Redfin

Italy is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply4.8Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list91.1%Sold price ÷ list price
Median days on market91Listing to accepted offer
Median price per sq ft$162▼ −21.8% vs. last year

The Italy housing market right now

In the three months ending August 31, 2026, 0% of homes in Italy, TX 76651 sold above their list price, the typical home went under contract in 91 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 8 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking fell from 25%, homes sold more slowly (55 days then) and the median sale price held steady to $268,884. Overall, Italy is less competitive than a year ago, which gives buyers more room.

Within Ellis County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.

Nearby, Red Oak 75154 (14% sold over asking) and Ennis 75119 (12% sold over asking) are even more competitive.

Run the numbers for 76651

Prefilled for 76651Can I win this house?Multiple-offer likelihood for a listing Prefilled for 76651Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Avalon 76623 — /sq ftEnnis 75119Balanced $156 /sq ftFerris 75125Seller’s market $167 /sq ftForreston 76041 $95 /sq ft Browse all markets →

Towns like Italy nearby

Find towns like Italy in other states →
Itasca, TX76055 · 15 miles away89% similarcheaper homes ($27K less) Kerens, TX75144 · 38 miles away86% similarcheaper homes ($56K less) · older residents Maypearl, TX76064 · 12 miles away84% similarpricier homes ($119K more) · smaller Elm Mott, TX76640 · 38 miles away84% similarcheaper homes ($58K less) · more homeowners

Where Italy is

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Questions about Italy real estate

Is Italy a buyer’s or seller’s market?

A balanced market: there were 4.8 months of supply in Italy, TX 76651 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.

How fast do homes sell in Italy?

The typical home went under contract in 91 days in the latest three months.

Do homes in Italy sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 91.1% of the list price.

What are property taxes in Italy?

About 1.35% of a home’s value a year in Ellis County, or roughly $5,400 on a $400,000 home.

What is the median home price in Italy?

The median sale price was $268,884 in the three months ending August 31, 2026, about $162 per square foot.

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology