property
First-Time Buyers Drive 28% of Corpus Christi Home Sales in June
Sales data shows first-time purchasers driving 28 percent of transactions in June while median prices for starter homes held near $245,000.
How we reported this
First-time buyers closed on 142 homes in Corpus Christi during June, up from 111 the same month last year, according to figures compiled by the Corpus Christi Association of Realtors.
The increase arrives as mortgage rates settled near 6.4 percent and inventory of homes priced below $275,000 grew by 9 percent since April. Local lenders report that buyers using conventional loans with down payments under 5 percent now represent the largest share of new applications at branches along Ocean Drive.
Neighborhood Entry Points
Properties in the Lamar Park neighborhood moved at a median of $238,000 for three-bedroom houses, while homes near the Corpus Christi Marina traded at an average of $262,000. Both figures sit below the citywide median of $312,000 recorded in the same period. First-time buyers concentrated on blocks east of Alameda Street and south of Holly Road, where smaller lots and older stock keep prices accessible.
The Nueces County Housing Authority’s down-payment assistance program processed 47 applications from Corpus Christi residents in the second quarter, a 22 percent rise over the first three months of the year. Buyers who qualified received up to $15,000 toward closing costs on homes inside city limits.
Market Data and Next Steps
Median days on market for homes under $250,000 fell to 31 in June from 38 in May, according to Multiple Listing Service records. Appraisers note that homes on streets such as Staples Street and in the Del Mar area attracted multiple offers when listed below $230,000, while listings above $300,000 lingered longer.
Buyers planning to enter the market this summer should review listings on the Corpus Christi Association of Realtors site each Wednesday morning and contact at least two local lenders before touring properties in Lamar Park or near the marina. Those steps allow first-time purchasers to match financing pre-approval amounts to current asking prices before new inventory arrives after Labor Day.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.