If you are thinking of purchasing a home in McAlester, Oklahoma, then get ready for an exciting adventure. This vibrant city combines affordability, community charm and easy access to amenities, which is why it is considered an attractive destination for those looking for homes. Whether you are looking to purchase your first home or you are interested in moving, it is important to have an understanding of the local real estate market in order to make the right choice.
Why McAlester, OK Should Be Your Next Home
McAlester, OK, is a little-known treasure for homebuyers wanting affordability, comfort, and a strong community. Here’s what makes this city special:
A Sparse Suburban Feel
McAlester combines suburban livability with small-town atmosphere. And being such a family friendly area, we drool at the warm and welcoming spirit in the community. One of the biggest reasons people tell us they love living here is the well-kept neighborhoods and friendly neighbors.
Affordable Housing Market
Affordability is one of McAlester’s strongest sales pitches. Home prices in McAlester are much lower than the national housing market. Median home value is around $140,210, an appealing number to families, retirees, and first-time buyers.
Close to Amenities and Outdoor Pursuits
McAlester is within easy access to schools, medical facilities, shopping, and more. It is also a paradise for outdoor lovers, with ample chances for fishing, hiking and other nature recreation in surrounding parks and lakes.
Demographics and Lifestyle
With a population of around 18,000, McAlester has the advantages of a small town while providing important services. The city is great for families, professionals and retirees alike, with a variety of things to do and a relatively affordable cost of living.
Exploring the McAlester Real Estate Market
A home is a big purchase and, as it is with any big purchase, you want to know the lay of the land before to start shopping. Here’s a closer look at the housing market in McAlester:
You may read (living space)
Home Values and Market Trends
McAlester’ real estate market is stable and its prices are affordable. Homes are affordable here, with the area’s median home value at $140,210, allowing buyers to purchase quality homes without breaking the bank. Here are home values, broken down by price range:
Price Range Percentage of HomesUnder $100,000 35%$100,000–$200,000 45%Over $200,000 20%
Rent vs. Own Statistics
In McAlester, a majority of residents are homeowners, with 58% owning their homes and 42% renting. This demonstrates a clear commitment to living and investing in the local community for the long term.
Availability of Properties
There are currently over 225 homes listed for sale in the McAlester area giving buyers plenty to choose from. From starter homes to big family properties, there are homes for all.
What Kinds of Homes Can You Find in McAlester?
McAlester offers a wide range of housing choices, allowing buyers to find a home that fits their requirements and style.
Popular Home Sizes and Styles
- 2-Bedroom Homes — Great for singles, couples, or small families, average price is $90,000–$120,000
- 3 Bedroom Homes: The most common option, family friendly, $130,000–$160,000.
- 4 Bedroom Homes: Bigger houses for expanding families, or those who just want some extra room — about $180,000–$220,000.
Property Types
- From a busy family to a retiree, McAlester has something for everyone:
- Single-Family Homes: Great for families who desire independence and space.
- Acreage Properties: Ideal for anyone looking for additional land for farming or outside activities.
ISLND BZAAR Historic Homes: Charming older homes with distinctive architectural features.
Quality of Homes
McAlester homes are popular for their sturdy construction and aesthetic pleasure. Many available properties have clean interiors and contemporary amenities, meaning they can be lived in immediately.
How to Buy a House in McAlester in 7 Steps
Purchasing a HouseCan feel daunting, however, dividing it into steps makes the process easier.
Assess Your Budget
Start by figuring out how much you can spend. First take a look at median home prices in both McAlester and then check mortgage options. One step to understanding your buying power: getting prequalified for a loan.
Neighborhood Research
The neighborhoods in McAlester are diverse and have their own identities. You can search through school districts, age in the area, or which neighborhood you find best with proximity to schools, parks, or shopping centers.
Choose a Real Estate Agent
Teaming up with a local real estate agent is priceless. Agents know the McAlester market and can help you navigate negotiations, inspections, and paperwork.
Explore Listings
Check online listings at websites such as Zillow, Trulia and local real estate sites. You can filter by price, size, and location to zero in on homes that fit your specifications.
Make an Offer
When you find your dream home, make an offer. Be ready to negotiate and arrange inspections to confirm the condition of the property.
Financing Your Home Purchase
Our professionals help you navigate the home-buying process, including the important step of securing financing. Here are some tips:
Mortgage Options
McAlester also offers a range of loan programs — FHA, VA and USDA — for Oklahoma buyers. These options typically have smaller down payment requirements.
- What Is the Difference between Prequalification and Preapproval?
- Prequalification: An approximation of how much you can borrow
- Preapproval: A more in-depth process that includes a credit check and offers a better negotiating position.
Advantages of Residing in McAlester
Affordable Living
Housing in McAlester is much cheaper than in nearby cities, making it appealing to frugal buyers.
Community Amenities
Downey allows residents to enjoy a high quality of life with great schools, healthcare facilities, recreational areas and shopping options.
Small-Town Charm
One of the things you’ll appreciate most about McAlester is our small community and the slow pace of life.
McAlester First-Time Homebuyer Tips
- Don’t Do: Rush the process Do the research and the tours before you decide.
- It’s important, that you also plan for these extra costs: closing fees, taxes and maintenance.
- Take advantage of local housing programs and first-time buyer incentives.
Current Trends in Real Estate and Future Projections
Current Market Statistics
Houses in McAlester are on the market for an average of 83 days, so buyers have time to think.
Predicted Growth Areas
Analysts also expect property listings to generate strong sales, particularly in proximity to amenities and schools.
FAQ about Buying a House in McAlester
What’s the average price per square foot?
Depending on the property, average price is around $90–$120 per square foot.
Are any new developments on the horizon?
Yes, new housing is under development — several communities with modern amenities.
How long does the average buying process take?
This process typically takes anywhere from 30–60 days (financing/inspections dependent.)
Conclusion
Purchasing a home in McAlester, OK, opens the door to all the benefits that this affordable, charming, community-oriented city has to offer. With knowledge of the local market, and following the steps described in this guide, you’ll be better equipped to find your dream home. Ready to start your search? Check out listings today or connect with a local real estate agent to make your home-buying experience a success.
You may also read (what-is an open house in real estate)
