The Corpus Christi Association of REALTORS® (CCAR) May 2021 market report for Port Aransas & Mustang Island has been released and Port Aransas home prices have reached a new high with a median price of $525,000. This is an increase of 26.5% over last May and has increased from the median price of $449,00 in April 2021. We are still actively in a seller's market with inventory at 1.8 months, a huge contrast compared to 9.6 months only 1 year ago. Sales are up 122.2% YOY, remarkable even with such little inventory.
Port Aransas luxury developments Cinnamon Shore, Palmilla Beach and Sunflower Beach are sold out of new homes and coastal cottages. With new construction delays, it will be difficult to reach the overwhelming demand of buyers. A great problem to have in my opinion!
