SOUTH PADRE ISLAND – According to the South Padre Island Board of Realtors, 203 sales closed in the metro in second quarter 2021, up 123.1 percent from a year ago.
Median price increased 22.1 percent from 2Q2020 to $305,251 last quarter.
Last quarter, 29.5 percent of homes sold were priced between $200,000 and $299,999.
Homes spent an average of 134 days on the market, 68 days less than second quarter 2020.
Like much of Texas, South Padre Island’s home market has been characterized by tight inventory. Active listings fell 79.7 percent over the year to 67.
Months of inventory fell sharply to 1.1 months compared with 10.8 months in 2Q2020. The Texas Real Estate Research Center considers six to 6.5 months of inventory a balanced market.
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