McAllen Real Estate Market - View McAllen Real Estate Market Trends in Texas

Spring 2012 Market Update If you can qualify for a home loan, now is an exceptional time to buy a home in McAllen. Low rates with competitive home prices makes a home purchase in Hidalgo County cities a great value. If you are buying cash it is always considered good to own real estate in ones investment portfolio. My team and I would be more than happy to set down and meet with you to discuss your wants and needs in buying real estate in my area. My experience in the industry is at your advantage. Call now for more information on buying real estate in Hidalgo County at 956-279-4916. Hablo Español.
Average Home Price	$175,000 - View Graph Trend

Average Price Compared to Last Year	Up 15-20%

Average Time on Market	60-90 days

Best Selling Price Range	$150,000 - $199,000

Worst Selling Price Range	$1,000,000+

Prices As % of Asking Price	95-100%

Existing Home Prices for the past 90 days are?	No Change

Market Trend	Increasing

Buyers’ or Sellers’ Market	More buyers than sellers

Buyer Activity for the past 90 days in McAllen is	Increasing

Seller Activity for the past 90 days in McAllen is?	Increasing

Multiple Offers?	Yes

Multiple Offers Commentary	Most seller’s are pricing their homes competitively to compete with other listings on the market. It is common for sellers to receive multiple offers especially on foreclosures so it is recommended that if buyers are interested in a specific property to offer their ’highest and best’ to give them the best chance of ’winning’ that property.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	30-35%

Is Financing Available For Qualified Buyers?	Yes

Comments on Financing For Qualified Buyers	If you can qualify for a home loan now and you have been thinking about buying a home soon now would be the time before mortgage criteria gets tighter. Interest rate are very low right now. Not all buyer’s will qualify but if they are not sure it is best to meet with a mortgage company to know whether they qualify or not. If they don’t qualify many times there may be things on someones credit report that can be cleaned up in order to be able to buy in the future.

Housing Inventory	Good supply - Some Prices

Inventory Comments	Now is the time to buy due to foreclosure inventory beginning to diminish and interest rates are at an all time low. Well priced homes are selling faster than they were at this time last year. More information on our area below in the additional comments section

Greatest Activity	First Time Buyers

Reason to Buy/Sell	Job Growth

Nearest Metro Area	McAllen

Housing Hot Spots	Most cities within the Hidalgo County area are considered ’Housing Hotspots’ The Rio Grande Valley is growing overall. Real Estate prices are stable and very competitive compared to the national average. I service all of our Hidalgo County cities such as Edinburg, Mission, Pharr, San Juan, Alamo, Donna, Weslaco, and Mercedes.

Average Sold Price	$175,000 - View Graph Trend

McAllen Local News

Agent quarterly survey shows growing optimism toward a housing market recovery

End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.

Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.

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