After a disappointing September, October median list pricing has gone up a bit. Thanks to climbing earnings, expanding jobs and low mortgage rates, according to the latest National Association of REALTORS report sales throughout the US have gone up however Padre Island’s closed sales went down 12.7%.
Historically low interest rates, continuing job expansion, higher weekly earnings and low mortgage rates are undoubtedly going to cause higher sales.
It is nice to see home list prices starting to rise again. Let’s hope these conditions continue to remain favorable for real estate investment on Padre Island.
Cheri Sperling is 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 are the most knowledgeable real estate office on Padre Island. No pressure style, patience, and intimate understanding of the local market. They go to work for you!
Padre Island October 2019 Data (Click Pic below for PDF)
