North Padre Island Corpus Christi Housing Report Feb 2018
The Corpus Christi North Padre Island Real Estate Market for February 2018 is down compared to the same time last year.
Active listings are 8.8% with 330 active listings in February 2018.
Days on the market is 17 days more than February 2017 with 112 Days on the Market and 155 Days to close.
Closed Sales are Down 2.6% with 37 listings Sold in February 2018.
Months of inventory for February 2018 is also down to 8 months of inventory compared to 8.5 months of inventory in February 2017.
The medium home price for North Padre Island for February 2018 is $230,000.
There are a lot of factors that effect the housing market on North Padre Island. Believe it or not, the weather has a lot to do with the market here. Usually the weather is sunny and beautiful, but some years we actually have winter months with colder weather. This was one of those years.
The ecomony also effects the market. With the recent hurricane, lots of winter Texas were not able to come to the area - Winter Texans come and look at property to purchase. With Hurricane Harvey hitting Port Aransas there were not many places for these Winter Texas to stay, plus they didn't know the extent of the damage so they went elsewhere.
Moving Forward as we continue on towards spring, the market will pick up and more homes will come on the market. More properties will begin to sell with interest rates still low, but possible interest rate hikes in the foreseeable future.
To search for homes in the 78418 Zip Code or For Homes For Sale on North Padre Island
Comments (5)Subscribe to CommentsComment