Market down from 2008
March 29, 2009
The number of sales is up 32 percent from January; however, January was the worst month in years. The reality of the market is Corpus’s sales are down 17.3 percent from this time last year, down 34.4 percent from 2007, and the third lowest posted in our two year snapshot. There were only 12 more homes sold in February than in November 2008, which was last year’s worst month.
Both the mean and median prices also dropped from this time last year. The average home price in February was $144,500, which was $4500 less than January 2009 and 9 percent less than February 2008. The median price did jump a little from January, but is still 2.1 percent lower than this time last year. The median price is $133,800, which is above the mean median price over the past 12 months. It is less than the average price, indicating there are some high outliers driving up the average price.
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