I get asked all the time, “How’s the Amarillo Real Estate Market?” And while you can find plenty of statistics from brokers on inventory, days on market, and other data-driven insights, that’s not what this report is about. This is a real, no-nonsense look at what I’m seeing on the ground— Amarillo real estate in layman’s terms.
Real Estate is Regional
One of the most important things to understand is that real estate markets are highly regional. The housing market in San Diego has nothing to do with what’s happening in Dallas, and Dallas is a completely different world from Amarillo. But it goes even deeper than that—within Amarillo, different neighborhoods and price ranges behave in dramatically different ways. A one-size-fits-all market analysis just doesn’t cut it.
The Retail Homeowner Market
For traditional homeowners looking to sell, the Amarillo real estate market is still strong. Not as strong as it was from 2020 to 2022, but homes are still selling at a decent pace. However, there is very little room for error. If a house isn’t priced correctly, it’s going to sit. Overpriced homes get passed over like day-old bread, and price reductions often become necessary. Sellers who take the time to position their homes correctly—pricing them right and ensuring they show well—are still getting good results.
The Fixer-Upper Market
This segment of the market has slowed down significantly. Fewer buyers are willing to take on fixer-upper properties because people simply don’t have the time or the knowledge to handle major repairs. Even those who might be willing to take on a project are finding it incredibly difficult to hire reliable and affordable contractors. If you’ve got a home that needs significant work, be prepared for it to sit on the market longer or to sell at a steep discount.
Quirky and Unusual Homes Are a Hard Sell
The Amarillo real estate market isn’t particularly forgiving when it comes to homes with odd layouts, busy locations, or overbuilt features. Houses with strange floor plans, those located near busy roads, or properties that are much larger or more elaborate than the surrounding homes are struggling to find buyers. If your home falls into this category, it may take longer to sell, or you may need to adjust expectations on price.
The Rental Property Market
This is where things have really changed. Rental homes aren’t moving like they used to. In 2021, investor interest rates were hovering around 4.5%, making it relatively easy to buy and cash flow a rental property. Today, those rates have jumped to 8.5% or higher. On top of that, insurance premiums on rental properties have increased by about 30%, and deductibles have doubled. And let’s not forget property taxes—those have skyrocketed as well.
All of these factors make it incredibly difficult for investors to make the numbers work. If a rental property doesn’t cash flow, it’s not worth buying. As a result, many landlords are choosing to sell off their rental properties, flooding the market with inventory. But because the investor pool has shrunk, these properties aren’t selling as quickly as they used to. If you’re a landlord looking to sell, you need to be prepared for a slower process or a lower offer than you might have expected a few years ago.
High-End Homes Are Struggling
Homes priced over $400,000 are taking longer to sell. The pool of buyers for high-end homes in Amarillo is smaller, and with rising interest rates, fewer people can afford the higher mortgage payments that come with these properties. If you’re selling a higher-end home, patience is key. Price reductions may also be necessary to attract the right buyers.
What This Means If You’re Selling
If you’re thinking about selling your house in Amarillo, it’s important to understand these market conditions so you can set realistic expectations. The good news is, we are still buying houses in nearly every price range and in every part of Amarillo and Canyon. Whether you have a move-in-ready home, a fixer-upper, a rental property, or a high-end house, we can make you a fair cash offer and close quickly.
We understand the challenges sellers are facing in today’s market, and we’re here to help. If you need to sell your house fast, give us a call. The Amarillo real estate market may be shifting, but that doesn’t mean you’re out of options.
Final Thoughts
The Amarillo real estate market isn’t what it was a couple of years ago, but homes are still selling—if they’re priced correctly and positioned well. The fixer-upper market has slowed, rentals are struggling due to increased costs, and high-end homes require patience. If you’re thinking about selling, whether because of market conditions or personal circumstances, we buy houses in Amarillo and are ready to make you an offer.
If you have a house to sell, contact us today, and let’s see how we can help. The real estate market may change, but one thing remains constant: we’re always here, ready to buy homes in Amarillo and Canyon. Give us a call today at 806-359-7653 or submit a form on our website and we’ll get back to you.