August 2024 Real Estate Market Update – Cameron County & Local Markets!
The real estate market across Cameron County and nearby areas is showing some dynamic shifts! Let’s dive into the numbers and see what’s happening locally.
Cameron County:
Median Price: $275,000, a healthy 3.8% increase compared to August last year.
Active Listings: Up 64.7% – with 1,573 homes available for buyers!
Closed Sales: A slight bump up at 2.5%, closing 251 homes in August.
Days on Market: Homes are staying on the market a little longer, averaging 97 days.
Months of Inventory: Supply has surged to 7.6 months, up from 4.6 last year, giving buyers more options to choose from.
Port Isabel:
Median Price: $285,000 – down 8.8%.
Active Listings: Up by a stunning 93.3%, with 29 homes now on the market!
Closed Sales: Just 3 homes, a 25% drop, suggesting a competitive market.
Days on Market: Homes are moving quicker at 120 days on average.
Months of Inventory: Up to 10.9 months, providing buyers with ample choices.
Laguna Vista:
Median Price: A remarkable 51.2% increase to $449,000!
Active Listings: Grew 18.1% with 85 homes on the market.
Closed Sales: Down 56.3%, with 7 homes closing, indicating a selective buying process.
Days on Market: Homes are sitting longer, with an average of 186 days before selling.
Months of Inventory: Stable at 8 months, compared to 6.2 months last year.
South Padre Island:
Median Price: Up 15.3% to $547,500 – a prime area to invest in!
Active Listings: Increased 75.4%, with 314 properties available for potential buyers.
Closed Sales: 5.7% increase, with 37 sales recorded last month.
Days on Market: Homes are moving faster here with an average of 115 days on the market.
Months of Inventory: Rose to 13.6 months, offering plenty of beachside options for interested buyers.
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Now is a great time to explore your options, whether you’re thinking about buying, selling, or investing. Let’s chat and find the perfect home or buyer for you!
LEE ANN CLARK, REALTOR
Key2Sold Realty
956.433.2134
(text or call)
leeann@livelovespi.com
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