The Corpus Christi Housing Market is overall still a good market. The median home price is up 7% over this same time last year. In November 2016 there was 57.21% of the homes sold priced at $199,999 or under. There was 40.87% of the homes on the market sold for between $200,000-$499,999. Plus 1.92% of the homes sold in November 2016 were priced over $500,000. This is great news for homeowners thinking of selling in the new year.
The number of active listings on the market is up by 16.4% compared to this same time last year. This is pretty typical in an election year and the timing of the year. Average market time is still 67 days which is only up by 2 days from last year. This is pretty good. The number of active listings currently on the market is 1,611 and there were 229 homes sold in November 2016.
In my professional opinion now is the best time of year to think of and start the process of purchasing a home. Most people wait until the beginning of the year, thinking of New Years Resolutions, then they miss out on some of the deals they could have received. Typically October through mid February are the best times to buy. There is not as much competition for a buyer, and with inventory being up slightly this year, it is a great time to start looking, and negotiate a better price.
If you have questions about this report, or questions regarding purchasing a home in Corpus Christi Texas, give me a call at 361-688-7064. I will be happy to help you through the process!
Information provided by the Corpus Christi Association of Realtors.