New Report shows Median Price History for the Texas Gulf Coast Real Estate Markets
Texas Gulf Coast, TX (PRWEB) August 18, 2007 -- TexasGulfCoastOnline.com (www.texasgulfcoastonline.com) compares the median sale prices for residential real estate in the coastal resort markets of Port Aransas Mustang Island, South Padre Island, Crystal Beach Bolivar Peninsula and Galveston Island.
When comparing the four major areas of the Texas Gulf Coast, it is easy to see that South Padre Island has the highest median price. Tropical weather, whiter sands and bluer waters prevail in southern areas of the Texas coast.
-South Padre Island - $349K
-Port Aransas - $278K
-Galveston - $241K
-Crystal Beach - $154K
The South Padre Island real estate market is influenced the most by the national market, which is why it experienced a dip in the median price this year from the national housing woes and related buyer hesitancy for second home purchases. While Galveston, Crystal Beach and Port Aransas, which are in driving distance of thriving San Antonio, Austin, Houston and Dallas, are witnessing a rise in median prices and sales volume.
One very interesting factor is that the short term rental rates and demand are about the same in all the Texas coast resort area markets. This makes short term ROI on properties much better on the northern parts of the Texas coast.
The Texas Coast is attracting visitors from all over the country. It is no surprise since oceanfront property values on the Eastern and Western coasts have skyrocketed in the past years and it is also now increasingly difficult to find land available for developments in these areas.
The Texas Coast, on the other hand, still has large amounts of undeveloped oceanfront property at affordable prices. This fact is attracting attention from investors as well as baby boomers throughout the country.
The full article is available at http://www.TexasGulfCoastOnline.com/News and includes median price history for each resort area and buyer interest location charts.
TexasGulfCoastOnline.com provides real estate information and analysis for Bolivar, Crystal Beach, Galveston, Corpus Christi, Port Aransas, Rockport, South Padre Island, Port O'Connor and McAllen Texas.
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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