Corpus has biggest price increase of the quarter, but smallest sales growth

February 2, 2010

There were 273 homes sold in Corpus Christi during December 2009.  This is an 8 percent increase from December 2008 when 253 homes were sold.  The preceding two months of 2009 saw double digit increases, so although December looks bright, in comparison it is only okay.  The home sales are also still lagging from 2007.  There is a 6 percent negative difference between December 2007’s 289 home sales and this December.

Average home prices were up 15 percent to $167,900 from December 2008’s $145,900.  This is the largest change in price Corpus has experienced in the past two years and the second month of positive growth.  The median home price of $136,900 is only 3 percent higher than the $133,100 median price seen last December.  It is also only half the yearly increase seen in November.

Gains in low priced Corpus Christi home sales

January 13, 2010

Corpus Christi’s real estate market saw increases in marketshare of homes priced between $30,000 and $90,000.  In fact, the share was so much larger for homes between $30,000 and $70,000 that real numbers increased in these categories.  Most Texas markets had such large drops in number of homes sold that the marketshare increases were not translated into real numbers.

The homes priced in the $30s increased in real numbers by 47 percent.  The other increase in marketshare came for homes priced above $500,000.  These went from 1.8 percent of homes sold in 2008 to 2.1 percent of homes sold in 2009.  As of November, this is only the difference of one home, so it will be interesting to see if December’s sales translate into real numbers.

One year sales way up in Corpus for November 2009

December 30, 2009

Sales jumped 39 percent in Corpus Christi for November 2009.  There were 310 home sales this November versus 223 last November.  Corpus is still having difficulty regaining the numbers from 2007 as November 2007 was 4 percent higher with 324 sales.

Prices were up for the year, too.  The average home price of $155,400 was 4 percent higher than the $149,400 in November 2008.  The median price of $138,400 was 6 percent higher than the 2008 price of $130,500.

No data for 2009 October Corpus Christi real estate market

December 1, 2009

Corpus Christi’s market did not turn in any statistics for October 2009.  Or, perhaps, they didn’t sell anything.  I suspect it is the former.

Price Distribution through September 2009

November 8, 2009

The pricing distributions are out for Texas cities through September 2009.  It’s absurd to begin a comparison because 2008 data includes twelve months, but 2009 data has only nine.  The data is posted for trend foreshadowing.  For example, in the $30,000 to $39,999 price category, Corpus is already up 9.7 percent from last year.  This indicates a high number of purchases of extremely low priced homes.  The percentage of the purchases in categories under $89,999 are also much higher than their 2008 counterparts.  Most home purchases in Corpus are likely to be lower moderate to low priced homes for 2009.

Corpus sales drop again in September

October 28, 2009

There were 271 home sales in Corpus Christi during September 2009.  This is the lowest number of sales the city has seen since February of this year.  September 2009 showed a nine percent drop from 2007 and a 12 percent drop from its 2008 counterpart, as seen below.

The average price for these homes was $159,300, which is three percent lower than last September.  The median price was $144,100.  This is a four percent gain on last September’s median price and the highest price seen since July 2008.

August a disappointing end for Corpus Christi’s summer

October 2, 2009

June 2009 posted some refreshing, and potentially rebound indicating figures, in home sales, but the rest of the summer did not match it.  August had 318 home sales, which is about 15 percent below June’s 372.  August also fell behind its 2008 and 2007 counterparts.  August was down 16 percent from 2008’s 377 home sales and 25 percent from 2007’s 425 home sales, as seen below.

The average home price is the highest of the quarter at $159,900, thought it is still down 1 percent from last August.  The median home price of $138,100 is the lowest of the quarter, but 2 percent higher than last year.  The average home price is $21,800 high than the median price indicating a few very high priced homes are driving the average up.

July market has silver lining in Corpus Christi

September 9, 2009

Corpus home sales dropped to 306 from June 2009’s 372.  The number of homes sold in Corpus Christi for July 2009 is 18 percent lower than the 372 sold in July 2008, and 35 percent lower than the 472 sold in July 2007.  There is a little optimism when looking at the market, because July is the second month in a row to post home sales above three hundred since September 2008.

Home prices are higher than they were during the six month slump from November 2008 to April 2009, but have not returned to the levels of 2008’s July figures.  The mean home price was $159,700 in Corpus Christi for July 2009, which is 4 percent lower than in July 2008, but was $300 more than in June.  The median price was $138,700, which was 6 percent lower than July 2008, and $1300 lower than in June.

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