Corpus Christi Association of Realtors has posted the Padre Island Corpus Christi Housing Report for September 2024.
Our active listing median prices have dipped the past month to $487,000 which is actually a 25.2% increase from where it was compared to last September at this time! CCAR shows us the data that has risen for active listings t0 36.6% with a total of 321 properties this past month compared to September 2023 while inventory also rose to 11.9 compared to 6.6 last year at this time.
Days on the market for sale increased this past month with an average of 143 days and the highest categories for sales with 22.2% of all the sales being priced between $300,000 – $399,000 and $750,000 – $999,999. The market is still softening a bit as we head into the holidays with properties available across many pricing areas. 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 Consumer Price Index (CPI) rose by 0.7% between September 2023 and September 2024, down from an annual increase of 1.7% in the 12 months to August 2024. Excluding energy and unprocessed food, the CPI went up by 2.4% in the 12 months to September 2024. The current federal funds rate is 4.75% to 5.00%. The Federal Open Market Committee (FOMC) set this target range at its September 17–18, 2024 meeting. This was a 50 basis point decrease, or 0.50 percentage point, from the previous rate.
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 Corpus Christi 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 Corpus Christi August 2024 Data (Click Pic below for Larger Image)
