Amarillo, Texas Housing Market

How much can you negotiate in Amarillo?

Only 51 out of every 100 homes for sale have found a buyer. The other 49 are still waiting. Your offer may be the only one on the table. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing, not from the whole market.

A typical Amarillo home takes 44 days to find a buyer. Half of them take even longer. That is 12% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 643 homes for sale in Amarillo. That is 3.1 times the tightest month on record, but below the peak of 1,075. Supply is shrinking against last year.

What to do about it

• Start in 79102, 79108, and 79106. Those are the three softest ZIP codes in Amarillo.
• Filter for homes listed 60+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• In 79102 only 46 out of 100 homes have a buyer. You can lose a few offers there and still win.

Is now a good time to buy in Amarillo?

Asking prices are 10.7% below their Jun 2023 peak. You are not buying at the top. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller. Amarillo prices have risen in 90 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

The discount is already here. It is not getting bigger. Buy now while sellers are still weak. Waiting for a lower price stopped working a year ago.

Who will rent from you in Amarillo?

In Amarillo, 37 out of every 100 households rent. Most own their home. That share has held steady for five years. Amarillo added about 1,900 renter households in five years. Renter households average 2.3 people. Two and three bedrooms fit the typical renter.

Households grew 6% in five years. The housing stock grew 6%. The two are moving in step. 10.6% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

The median Amarillo household earns $71,746 a year. Incomes here have grown 4.9% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 4.5 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. A tenant on the median income can pay about $1,794 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.

What numbers should you underwrite an Amarillo deal with?

• Price growth to assume — +2.8%/yr. Amarillo has grown about 2.8% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices rose 0.6% over the last year. That is a timing signal, not a trend.
• Months of carrying cost — 2. A typical home takes 44 days to sell. Budget that long when you exit or refinance.
• Odds you cut your price to sell — 1 in 6. About 16% of homes on the Amarillo market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $157/sqft. The average listing runs +23% above the median. Luxury homes skew it. Comp your own size class per sqft.
• Competition when you exit — -27%. That is how much the number of homes for sale shrank in a year. Your resale will face a smaller crowd than today's comps did.
• Price-to-income ratio — 4.5×. A typical home costs 4.5 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. Incomes are rising faster than home prices. Affordability is improving.
• Tenant rent ceiling — $1,794/mo. 30% of the median household income of $71,746. Rents above this line shrink your tenant pool fast.

Is Amarillo a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Amarillo right now. 51 out of every 100 homes for sale have a buyer, 16% of sellers have cut their price, and a typical home takes 44 days to sell.

Are Amarillo home prices going up or down?

Asking prices are 10.7% below their Jun 2023 peak. You are not buying at the top. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.

What price growth should I assume for Amarillo?

Assume +2.8% a year. Amarillo has grown about 2.8% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices rose 0.6% over the last year. That is a timing signal, not a trend.

How fast are homes selling in Amarillo?

A typical Amarillo home takes 44 days to find a buyer. Half of them take even longer. That is 12% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.

Is Amarillo a renters' market or an owners' market?

In Amarillo, 37 out of every 100 households rent. Most own their home. That share has held steady for five years. 10.6% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

What rent can Amarillo tenants afford?

A tenant on the median income can pay about $1,794 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Amarillo household earns $71,746 a year.

Which Amarillo ZIP code has the most negotiating room?

79102. Only 46 out of 100 homes there have a buyer. 23% of sellers there have cut their price, and a typical home takes 65 days to sell.