The McAllen housing market exhibits some interesting trends. Here’s a summary of recent data:

  • The median sale price of a home in McAllen was $269,000 last month, which represents a 16.5% increase compared to the previous year. Additionally, the median sale price per square foot in McAllen is $155, reflecting a 23.0% increase since last year.

  • Days on the market: Homes in McAllen typically sell after 53 days, indicating a somewhat competitive market. Some homes receive multiple offers, while others sell for around list price and go pending in approximately 18 days.

  • Migration trends: In the period from September 2023 to November 2023, 37% of McAllen homebuyers considered moving out of McAllen, while 63% preferred to stay within the metropolitan area. Among those moving into McAllen, Los Angeles homebuyers showed the highest interest, followed by Chicago and Miami. As for McAllen residents relocating elsewhere, Austin was the most popular destination, followed by San Antonio and Brownsville.

  • Comparing with the national average: McAllen’s median sale price is 34% lower than the national average, and the overall cost of living in McAllen is 19% lower than the national average.

Remember that these trends are based on data and provide valuable insights for both buyers and sellers. If you’re curious about your own home’s value, you can track it and compare it to nearby sales at "Property Valuation in McAllen Texas"  πŸ‘πŸ’°