Real Estate news has been reporting slumps in most markets nationwide. Amid all those dismal reports, parts of Texas have quietly recovered and are showing growth in real estate sales. South Padre Island is among them. While bargain hunting has become the norm, more real estate purchasers are discovering SPI. The second home buyers are finding South Padre to be an affordable coastal retreat while investors are still seeing positive rental numbers at this popular vacation spot. In addition, early retirees see South Padre as a great opportunity to have an ideal coastal lifestyle for less. All this adds up to a slowly strengthening market for South Padre Island Real Estate.

South Padre Island sales for Feb of 2009 are up considerably over Feb 2008 with over $12,000,000 in sales compared to $4,886,000 the previous year. The trend continues with almost $14,000,000 in sales for March 2009, double the $7,000,000 amount for March of 2008. April and May of 2009 were also stronger with about 30% growth from the same months the previous year.

While we still aren’t seeing the incredible sales numbers of 2005 and 2006, that isn’t necessarily a bad thing. 2006 saw trends like property flipping and the rapid increase in pricing that were problematic for many housing markets in the US. However, South Padre Island’s pricing never reached the outlandish asking prices of other areas. After a slight adjustment in the average price, we feel that the South Padre Island market now reflects fair and affordable coastal real estate. Plus, there are a few real bargains on the market in some property categories that had overbuilding or saw less popularity in the last year.

Given the market conditions nationwide we are very pleased with the way the island market has leveled out and shown positive growth based on the merits of the area and the reasonableness of our real estate pricing.

Let realtor / broker Mary Phillip help you find the best South Padre Island property for your needs and budget. Contact SPI Coastal Properties at (956) 761-3633 or email Mary@spiproperty.com.