The March Padre Island market report is available and although we are still amidst the Covid-19 pandemic, mortgage rates remain near historic lows and real estate sales are still happening.
The median price for homes has trended up 2.9%, at $326,500. Closed sales were flat compared to last year. Active listings were down 7.7% from last year.
Homes priced in the $300K’s are the highest group of homes priced on the market (31.8% total). Days on market was actually less than in February, totaling 93 days on market, 125 days to close.
Our agents are continuing to conduct virtual showings, virtual open houses, FaceTime meetings and practicing social distancing. With the impact of coronavirus, we are anticipating a slowdown for April numbers.
