At The End of August, the median sale price on residential homes was 335,000 which is an increase of 17.1% over last month here on Padre Island compared to last year at this time.
We are still trucking along here with many developments either under construction or set to go. The last round of approved funding was committed for the new Park Road 22 Bridge which is set to begin construction shortly.
Days on the market for sale has decreased to an average of 91 days on the market. 29.2% of all the sales in August were priced between $200,000 – $299,999. Closed Sales were up an incredible 69% in the month of August. The market is absolutely scorching right now, there are still some great bargains out there and with the interest rates still holding its a great time to find that dream home you have been waiting for.
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!
Padre Island August 2020 Data (Click Pic below for Larger Image)
