Thinking about buying a home in Sherman? You’re not alone. With access to Lake Texoma, proximity to North Texas job hubs, and a mix of established neighborhoods and new builds, Sherman gives you real choice at a range of price points. In this guide, you’ll learn how to read the market, where to focus your search, and what costs and risks to plan for so you can buy with confidence. Let’s dive in.
Sherman market snapshot
Sherman’s housing market can shift with interest rates, new construction, and local job growth. The best way to understand your leverage is to look at months of supply, days on market, and the sale-to-list price ratio for the past 30 to 90 days.
- Under about 3 months of supply typically favors sellers. Inventory is tight, and strong offers win.
- Around 4 to 6 months is a more balanced market. You can negotiate without rushing.
- Over 6 months tends to favor buyers. You may see price reductions and seller concessions.
How to read the data
- Months of supply shows whether listings are scarce or plentiful.
- Median days on market indicates how quickly homes go under contract.
- Sale-to-list price ratio close to 100% suggests competitive bidding; lower ratios can mean more room to negotiate.
Where to get current numbers
- Ask your agent for a fresh MLS snapshot at the city level before you tour homes. If you want broader context, the Texas Real Estate Research Center publishes helpful statewide and regional trends. For population and household patterns, the U.S. Census QuickFacts page for Grayson County is a good reference.
What Sherman buyers should know
- Get a written pre-approval. Ask your lender to include estimated cash to close and an itemized monthly payment so you can compare homes with confidence.
- Explore loan options that fit Sherman’s mix of property types. Conventional, FHA, and VA are common. Some rural tracts in Grayson County may be eligible for zero-down through USDA Rural Development’s eligibility map.
- Look into down payment help. The Texas Department of Housing and Community Affairs lists statewide assistance programs that may apply to qualified buyers.
- Check flood risk early. Use FEMA’s Flood Map Service Center, especially for homes near creeks or toward Lake Texoma. Lenders require flood insurance for properties in a high-risk zone.
- Confirm utilities and septic. In rural areas, you may encounter well and septic systems. Ask about well flow, water quality tests, septic inspection and pump-out history.
- Factor HOA rules and dues. Many newer subdivisions have HOAs that set architectural guidelines and collect dues. Review covenants before you commit.
- Price condition accurately. Older homes may have larger lots but could need updates. Newer builds may offer lower maintenance. Your inspector and comparable sales will help you balance price against condition.
- Shop insurance quotes. Premiums can vary based on age, roof type, and hail or wind exposure. The Texas Department of Insurance has a homeowner’s guide to help you compare coverage.
Where to look: neighborhoods and property types
Sherman gives you a real mix of choices. As you compare areas, weigh commute needs, lot size, HOA preferences, and any lake or acreage priorities.
In-town and established areas
Close to downtown and core neighborhoods, you’ll find older single-family homes, often on larger lots. These areas offer proximity to shopping, healthcare, and in-town amenities. Compare renovation needs, age of major systems, and potential for long-term value.
Newer subdivisions
Recent and upcoming developments offer modern floor plans, energy features, and HOA-maintained common spaces. Review HOA documents, dues, and any architectural guidelines. Ask about builder warranties, typical incentives, and nearby infrastructure on the City of Sherman website.
Lake and acreage living
If you want space or lake access within reach of Sherman, look toward Lake Texoma–area homes and rural tracts in Grayson County. For these properties, confirm well and septic status, private road maintenance agreements, fencing and boundary lines, and any floodplain exposure. Lake-adjacent lots can involve unique shoreline rights and insurance considerations.
Costs, taxes, and insurance in Sherman
Texas has no state income tax, so local services rely heavily on property taxes. Make taxes, insurance, and maintenance part of your budget from day one.
- Property taxes. Use the Grayson County Appraisal District to look up current valuations, exemptions, and tax entities for any address. File a homestead exemption if the home will be your primary residence.
- Homeowners insurance. Costs vary with age, roof, materials, and weather exposure. The Texas Department of Insurance homeowner’s guide is a solid place to start.
- Flood insurance. If the home is in a high-risk zone per FEMA’s Flood Map Service Center, your lender will require a policy. For low-lying or lake-proximate lots, flood insurance may still be a smart layer of protection.
- HOA dues and assessments. Verify current dues and any pending assessments or planned improvements.
- Closing costs. Typical buyer closing costs often range from about 2 to 5 percent of the purchase price. Ask your lender for a loan estimate early, and confirm local customs for title and closing fees.
Step-by-step: from pre-approval to keys
- Define budget and needs. List must-haves and nice-to-haves, including commute range and lot size.
- Get pre-approved. Compare rates, fees, and rate-lock options across two or three lenders.
- Tour neighborhoods. Drive the area at different times of day. Check commute routes and access to services.
- Screen properties for risk. Pull FEMA flood info, HOA details, and GCAD tax data before you write an offer.
- Offer strategy. Use fresh comps, recent days-on-market, and months of supply to tailor price, earnest money, and contingencies.
- Inspection window. Schedule a general inspection and add specialists as needed: roof, foundation, HVAC, septic, well water testing, or pest.
- Appraisal and title. Your lender orders the appraisal. Review the title commitment, survey, and any easements.
- Final walkthrough and closing. Confirm agreed repairs, utilities on, and condition as expected. Bring valid ID and closing funds.
Local context that influences prices
Sherman sits on the US-75 and US-82 corridors, which connect you to the broader North Texas economy. Population and household trends for Grayson County are available on the U.S. Census QuickFacts page. City planning and permitting updates on the City of Sherman site can signal new subdivisions or infrastructure that affect inventory. For high-level market conditions across Texas, the Texas Real Estate Research Center tracks statewide and regional housing trends.
Local resources for buyers
- City planning, permits, and utilities: City of Sherman
- Property values, tax entities, and homestead exemptions: Grayson County Appraisal District
- Flood zone maps and elevation references: FEMA Flood Map Service Center
- State homeowner’s insurance guidance: Texas Department of Insurance
- Texas homebuyer assistance programs: TDHCA Homeownership Programs
- USDA zero-down eligibility maps: USDA Rural Development Eligibility
- School accountability and campus ratings: Texas Education Agency – TXSchools
- Population and demographic context: U.S. Census QuickFacts – Grayson County
- Regional housing research: Texas Real Estate Research Center
Ready to explore Sherman with a local guide who understands lake living, acreage, and in-town neighborhoods? Reach out to Lake & Country Realty® for a grounded view of today’s market, on-the-ground insights, and a buying plan tailored to your goals.
FAQs
Is Sherman, TX a buyer’s or seller’s market right now?
- It depends on months of supply, days on market, and sale-to-list ratios for the last 30–90 days; ask your agent for a fresh MLS snapshot and use it to guide offer strategy.
How do I estimate property taxes for a Sherman home?
- Look up the address on the Grayson County Appraisal District site, review taxable value and taxing entities, and apply any eligible homestead exemptions.
Can I commute to Dallas from Sherman?
- Many buyers commute or work hybrid schedules; Sherman is roughly 60 to 75 miles north of Dallas via US-75, so verify drive times at your typical hours before you buy.
Do parts of Sherman flood or require flood insurance?
- Check FEMA’s Flood Map Service Center for each address; lenders require flood insurance in high-risk zones, and low-lying areas may benefit from optional coverage.
Are there down payment assistance options for Sherman buyers?
- Yes; review statewide programs at TDHCA Homeownership and confirm USDA eligibility for certain rural tracts using the USDA map.
How can I research schools when shopping in Sherman?
- Use the Texas Education Agency’s TXSchools site for accountability data and campus-level reports, and confirm attendance zones directly with the district before you buy.
