Mcallen, Texas Housing Market

How much can you negotiate in Mcallen?

Only 16 out of every 100 homes for sale have found a buyer. The other 84 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 Mcallen home takes 80 days to find a buyer. Half of them take even longer. That is 20% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago. There are 716 homes for sale in Mcallen. That is the most in ten years. It is 4 times the low of Apr 2022. Every one of them competes with the house you want.

What to do about it

• Search Mcallen homes listed 90+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• Ask the seller to pay closing costs.
• You can lose a few offers here and still win.

Is now a good time to buy in Mcallen?

Asking prices are 15.5% below their Feb 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. Mcallen prices have risen in 98 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.

What numbers should you underwrite a Mcallen deal with?

• Price growth to assume — +5.4%/yr. 1 year: +1.0% · 5 years: +5.8% · ten years: +5.4%. The five-year and ten-year rates agree. That is a durable trend, not a boom artifact. It is a fair long-run input. Measure growth per square foot. Mcallen median list price grew 3.4% a year, but price per square foot grew 5.4%. The gap is smaller homes, not weaker growth. The house you buy will not shrink. The one-year rate is a timing signal. It is not an underwriting input.
• Months of carrying cost — 3. A typical home takes 80 days to sell. Budget that long when you exit or refinance. It is 20% slower than a year ago.
• Odds you cut your price to sell — 1 in 9. About 11% of homes on the Mcallen 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 — $160/sqft. The typical Mcallen listing shrank from 2,312 to 1,856 sqft since Jul 2016. So median price hides real growth: 68% per sqft versus 40% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +17%. That is how much the number of homes for sale grew in a year. Your resale will face a bigger crowd than today's comps did.

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

Yes, if you negotiate. Buyers have the upper hand in Mcallen right now. 0.16 out of every 100 homes for sale have a buyer, 11% of sellers have cut their price, and a typical home takes 80 days to sell.

Are Mcallen home prices going up or down?

Asking prices are 15.5% below their Feb 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 Mcallen?

+5.4%/yr. 1 year: +1.0% · 5 years: +5.8% · ten years: +5.4%. The five-year and ten-year rates agree. That is a durable trend, not a boom artifact. It is a fair long-run input. Measure growth per square foot. Mcallen median list price grew 3.4% a year, but price per square foot grew 5.4%. The gap is smaller homes, not weaker growth. The house you buy will not shrink. The one-year rate is a timing signal. It is not an underwriting input.

How fast are homes selling in Mcallen?

A typical Mcallen home takes 80 days to find a buyer. Half of them take even longer. That is 20% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago.