Looking for a home in Corpus Christi? You’re far from alone

Nathan Law

The Corpus Christi housing market has been on fire for months. And it’s only getting hotter. That’s according to a report the Corpus Christi Association of Realtors delivered to the City Council Tuesday during the council’s regular meeting.  “The real estate industry produced $1 billion dollars as an industry in 2020 (in […]

The Corpus Christi housing market has been on fire for months. And it’s only getting hotter.

That’s according to a report the Corpus Christi Association of Realtors delivered to the City Council Tuesday during the council’s regular meeting. 

“The real estate industry produced $1 billion dollars as an industry in 2020 (in the U.S.)” said Elke Gonzalez, chief executive officer of the association. 

Here are some of the report’s findings: 

  • Housing prices rose 11 percent from 2015 to 2019, and an additional 20 percent from 2019  to 2021. 
  • New construction is increasingly expensive — less than 10 percent of new construction homes are affordable to the median household in Corpus Christi, $56,333, according to the U.S. Census Bureau. 
  • New listings are not keeping pace with sales, driving down available inventory
Devonshire Custom Homes along Willow Weep Drive on Wednesday, Feb. 3, 2021.

The median home price in Corpus Christi increased from $176,000 in 2015 to $234,500 in 2021, year to date, a nearly $60,000 increase, according to the association. The median price for new construction homes jumped up from $238,750 in 2015 to $325,000 in 2021, a roughly $86,000 increase. 

The current housing inventory has dipped to 1.5 months, compared to historically 5 to 6 months, which is considered a balanced market. 

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