Sales and prices down for the year in Corpus Christi
April 24, 2009
There were 283 home sales in Corpus Christi during March 2009. This is a jump of 48 homes over February 2009. Unfortunately, compared to its 2008 and 2007 counterparts, the market is still struggling. There were 11.6 percent less sales than in March 2008, which had 320 sales, and 36.1 percent less than 2007, which posted 443 sales. March 2009 did have the highest number of sales seen since September 2008.
The average home price in March was $147,500, which is $3000 more than February’s mean. This is reasonable when one looks at the preceding five months. Prices since November 2008 are all between $150,000 and $144,000; however, the average price is 14.4 percent lower than March 2008. It is also the third lowest price since March 2007.
Median prices were even lower. The median price for March 2009 was $122,2000. This was 15.3 percent lower than March 2008. March dropped $11,6000 since last month, and was the lowest median price posted in the three years prior.
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