Corpus Christi Association of Realtors has posted the North Padre Island Housing Report for October 2023.
Our active listing median prices have risen the past month to $450,000 this past month which is a 9.8% increase from where it was compared to last October at this time! CCAR shows us the data that is increasing for active listings by 60.8% with a total of 246 properties this past month while inventory Has risen at 7.2 compared to 2.8 last year during the month of October.
Days on the market for sale increased this past month with an average of 72 days and the highest categories for sales with 33.3 % of all the sales being priced between $300,000 – $399,999. The market is still quite stable moving into our short winter with properties available across many pricing areas. North Padre Island’s newest development Whitecap NPI is open for sales of their lots in Phase 1, Contact Coastline Properties Agent Ms. Amber Spicak at their office for all pre-sales. amber@coastline-properties.com
The median estimate (year-over-year, not seasonally adjusted) for the consumer price index (CPI) for the month of October 2023 is 3.3%. If 3.3% is the actual year-over-year increase in the CPI, it will mark the first decline in the consumer price index relative to the previous month since June 2023. This begins to show that inflation may be softening a bit as we head into the end of 2023.
Cheri Sperling is the owner of Coastline Properties with a dedicated team of agents specializing in residential listings, sales, and property management in the Padre Island real estate market. Coastline’s team is the most knowledgeable real estate office on Padre Island. No pressure style, patience, and an intimate understanding of the local market. They go to work for you!
North Padre Island October 2023 Data (Click Pic below for Larger Image)
