Coastal Bend MLS 2010 Year End Stats

With the state of the economy nationwide, it is certainly not a surprise that the housing market in Corpus Christi has followed the national trend as it took a dip in 2010. Not great news, of course. But there definitely some positives in our market statistics.

First, and most importantly, if you compare Corpus Christi to the rest of the nation we are certainly down less in our housing market on the whole, which also means our recovery time will in turn be much less as well.

In 2010, there were 3,521 homes sold through the Coastal Bend Multiple Listing Service. That compares to 3,658 homes sold in 2009; a total of 137 fewer homes were sold in 2010 as compared to 2009.

The median sales price in 2010 was $135,000 compared to $134,850 in 2009. Total Dollar Volume was $550.085 million compared to $563.794 million in 2009, a decrease of $13.709 million in total sales. Average days on the Market for 2010 was 149, and 148 for 2009 and our current inventory sits at 10.3 months as compared to 10.35 months for 2009.

That is a snapshot of our market for 2009 as compared to 2010.

Coastal Bend MLS 2010 4th Qtr Stats

Coastal Bend MLS 2010 3rd Qtr Stats

Fannie Mae Announces New HomePath Incentives Including $1,500 Bonus For Selling Agents

Incentives Available For Qualified Buyers!

On September 23, 2010, Fannie Mae announced incentives in connection with the sale of Fannie Mae-owned properties listed on the company's REO website, http://www.homepath.com/ for qualified homebuyers who submit eligible offers on or after September 23, 2010 and close by December 31, 2010.

Incentives For Selling Agents!

In addition, Fannie Mae announced a new $1,500 bonus incentive for selling agents representing qualified owner-occupants homebuyers who close by the deadline. Qualified homebuyers may receive up to 3.5 percent of the final sales price that can cover closing cost assistance, including a home warranty, if desired and available.

Sale Must Close in 60 Days of Accepted Offer

The sale must close within 60 days of the offer being accepted and no incentives will be given for investor purchase. Fannie Mae Homepath properties are owned by Fannie Mae and include a wide selection of homes, including single-family homes, condominiums and town houses.

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Coastal Bend MLS 2010 2nd Qtr Stats

The Second Quarter Coastal Bend Housing Sales Statistics are in and it is obvious from the numbers that the tax credit had an effect on the market. Statistics in April were up significantly from 2009 and they were down again in June. So what that means is that consumers did take advantage of the tax credit and either entered the housing market for the first time, or purchased a move-up home. That is certainly good news.

When you take a look at the figures it's easy to see that April 2010 closed sales were up significantly from April 2009 with 371 sales compare to 288, up 28 percent May figures also reflect an increase in sales of 12.74 percent with 354 Sales in May 2010. As for June, statistics reflect sales dropped in 2010 to 360 as compared to 396 in June of 2009.

The data also reflects that April was up in every category including average sales price, median sales price and total dollar volume.

With the apparent ups and downs, the overall good news is that the average numbers in each category were up. So on balance in Corpus Christi and the surrounding areas via our Coastal Bend MLS statistics the second quarter looked positive over all in the housing market.

Coastal Bend MLS 2010 1st Qtr Stats

The Coastal Bend Multiple Listing Service Statistics for the first quarter of 2010 are no surprise. For all practical purposes the first quarter shows the Corpus Christi housing market is status quo. There is, however, one bright spot: March is up just a bit and the hope is that trend will continue.

The statistics show, as predicted by NAR Chief Economist Lawrence Yun last month when he spoke here, that the real estate market will start moving in the coming months, but it will not be at a fast clip, but rather at a slower more methodical pace.

The number of closed sales for the first three months of 2009 stand at 730. That compares to 717 for the first quarter of 2010, down 1.78 percent.

The median average sales price for the first quarter of 2009 was $127,331. That compares to $129,416 for the first quarter of this year, up 1.64 percent.