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McAllen, TX Housing Market

The McAllen housing market is somewhat competitive. Homes in McAllen receive N/A offers on average and sell in around 80 days. The median sale price of a home in McAllen was $240K last month, -14.3% since last year.

McAllen Market Trends

It’s still a good market to sell in McAllen.

Even though the market has shifted across the U.S., McAllen is still a good market to sell your home.

-14.3%
The average home value in McAllen has dropped slightly by -14.3%.
$240K
The median sale price for a home in McAllen has remained strong at $240K.

McAllen Real Estate

Learn more about the McAllen market

In the last 30 days, homes for sale in McAllen, TX sold for a median price of $240K, -14.3% compared to the same period last year. The median price per square foot was $139, -7.9% year-over-year. There were 66 homes sold, down from 465 last year. Homes typically received N/A offers and stayed on the market for around 80 days.

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Texas Acquisition Manager

Meet our McAllen Expert, Andy

Andy will help you get the best offer in McAllen with no repairs or showings.

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How to Sell Your Home in McAllen, TX, and Make Top Dollar

Selling your home can be a daunting task, especially when you want to get the best price possible. If you're looking to sell your home in McAllen, TX, it's important to understand the current trends in the market and how to enhance your property's value effectively. Let's explore what you need to know, from market insights to renovation tips, ensuring your home stands out among the 465 properties currently on the market.

Understanding McAllen's Real Estate Market

Before taking any steps toward selling your home, it's crucial to understand the current real estate market conditions in McAllen. Here are some key insights:

  • The median sale price is around $240,000, which is a decrease of 14.3% year-over-year.
  • Homes in McAllen typically stay on the market for an average of 80 days.
  • The average down payment for buyers is approximately 25%.
  • The median list price per square foot is $152, with homes selling at roughly $139 per square foot.

With 465 homes currently listed and only 66 sold recently, highlighting your property's unique selling points is essential to capture potential buyers’ interest.

Boosting Your Home's Value with Key Renovations

Renovations can significantly enhance your home's attractiveness and value. Here are some popular renovations in McAllen, TX, along with their estimated costs and potential return on investment (ROI):

1. Kitchen Remodel

The kitchen is often the heart of the home, making it a focal point for buyers. Consider updating kitchen cabinets, countertops, flooring, and appliances.

  • Minor Remodel: $10,000 - $20,000 (ROI: 85 - 90%)
  • Major Remodel: $30,000 - $50,000+ (ROI: 60 - 70%)

2. Bathroom Remodel

Upgrading your bathrooms can have a big impact. Think about improving fixtures, cabinetry, tiles, and possibly adding a walk-in shower.

  • Minor Remodel: $5,000 - $15,000 (ROI: 80 - 90%)
  • Major Remodel: $15,000 - $30,000+ (ROI: 60 - 70%)

3. Curb Appeal Enhancements

First impressions are everything! Enhance your home's exterior with landscaping, a fresh coat of paint, a new front door, and exterior lighting.

  • Landscaping: $4,000 - $10,000
  • Exterior Painting: $2,000 - $6,000
  • Front Door: $500 - $2,000
  • Lighting: $500 - $3,000
  • Overall ROI: 70 - 100%

4. Energy-Efficient Windows

Replacing old windows with energy-efficient models can appeal to environmentally-conscious buyers and help reduce utility bills.

  • Costs: $8,000 - $15,000
  • ROI: 70 - 80%

5. Flooring Upgrades

New flooring can transform your home's aesthetic. Consider replacing carpet with hardwood or high-quality laminate/vinyl or refinishing existing wood floors.

  • Hardwood: $4,000 - $10,000
  • Laminate/Vinyl: $3,000 - $7,000
  • Refinishing: $2,000 - $4,000
  • ROI: 70 - 80%

6. Adding a Deck or Patio

Outdoor living spaces are a huge draw in McAllen’s warm climate.

  • Deck: $5,000 - $15,000
  • Patio: $3,000 - $10,000
  • ROI: 60 - 80%

Maximizing Home Sale Potential Without Renovations

While renovations can add value, they also require time and money, which you might not have. If you want to skip the hassle of renovations, consider selling your home directly to companies like Frontdoor. They can provide a fair offer quickly, allowing you to sell your home without making improvements. This can save you from the stress and uncertainty of traditional selling processes.

Market Trends and Economic Factors

The real estate market in McAllen is dynamic, reflecting broader national trends. Despite recent dips in home prices and a competitive market with few homes available, McAllen remains more affordable compared to bigger Texas cities. Economic factors like job growth in healthcare, education, and retail sectors support steady demand for housing.

McAllen is experiencing low supply, with homes selling faster than last year, even though mortgage rates have begun to rise. Rising rental prices are also pushing more people to buy homes before costs climb further.

Final Thoughts

Selling a home in McAllen, TX, can be rewarding when you understand the market trends and focus on strategic renovations. While upgrading key areas like kitchens, bathrooms, and exteriors can boost your home's appeal and value, you also have the option to sell directly to buyers like Frontdoor to skip renovations altogether.

By staying informed and making smart decisions, you can navigate the competitive McAllen real estate market and secure a great sale price for your home.

Request your custom offer today

Get an offer from Frontdoor and skip the hassle of renovations in McAllen.

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Sell your McAllen home

Request a competitive offer

Step 1

1. Share Unique Details About Your Home

Start by telling Frontdoor all about your home. Share its unique features like a big yard, updated kitchen, or new appliances. This helps in getting a precise offer tailored to your home.

Step 2

2. Compare to Other Homes in Your Neighborhood

Next, look at similar homes in McAllen. See what they sold for. This comparison helps in setting a competitive price for your home.

Step 3

3. Speak to a McAllen Market Expert

Finally, chat with a local market expert. They know McAllen well and can guide you on the best price and offer strategies. With their advice, using Frontdoor can get you quick and fair offers.

Comparison

Why you’ll love working with us

Let’s compare the sale of a $550,000 home in McAllen, TX.

                                                                                                                                                                                                                                                                                                                                           
Traditional SaleFrontdoor
Commission & Fees$33,000$0
Closing Costs$8,400$0
We pay all costs
Repair Costs$24,750$0
We pay all costs
Days on Market25 DaysImmediate Offer
Total SavingsSave $66,150

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