Corpus Christi was the hottest housing marketing on the Texas coast this year as the busy summer selling season approached, although the number of sales may have been held down so far this year by a lack of inventory, according to data provided by the MLS and Texas A&M Real Estate Center. From January through April, the average home price in the Sparkling City by the Sea consistently outstripped last year’s prices, often by double-digit percentages. Inventory continued its steady march downward, to just around four months, compared with just under six months for last year at this time. But total sales in Corpus for 2014 was down 5 percent over last year, the data showed.
While total sales in Galveston are up a whopping 23 percent over 2013, the island still has around nine months of inventory on the books, compared with about 10 months at this time last year. Average home prices also are up double-digit percentages as Galveston continues its recovery from the housing downturn and the devastating effects of Hurricane Ike in 2008.
In South Padre Island, the number of sales dropped by 2 percent so far this year, but inventory levels have decreased dramatically, from around 27 months last year to just under two years for 2014. The movement of product may be due to sellers’ decisions to cut prices — which dropped significantly in three of the first four months of 2014.
South Padre Island