Port Aransas' median sale price has experienced a steady increase since 2003. In 2003 the median sale price was $159K. By 2007 the median sale price has risen to $279K. When comparing Port Aransas' median price to the other areas on the Texas Coast (see graphs below) it is easy to see that it is the area with the most consistent appreciation since 2003. While some, such as Galveston have had considerable leaps from one year to the next, Port Aransas has maintained an average appreciation of $30,000 a year for the past four years.

The Port Aransas community is primarily driven by the tourist and fishing industries. The area is one of the primary tourist destinations in the state. Thousands of travelers flock to the area's beaches and more than 45 resort facilities during the peak summer months. Eight to ten thousand “Winter Texans” spend three to six months in Port Aransas every winter to take advantage of the great weather.

Property values on the Texas Coast have not been over inflated and as a result did not fall victim to the bubble boom that other coastal markets experienced. Two factors that have determined how strong the real estate market is in a particular area are: population growth and local economy.

Texas Coast is an area of strong demographic growth

Texas is one of three states dominating population growth, and will account for nearly half of total U.S. population growth (46%) in the next 25 years along with Florida and California.

Projections show that the top three states will gain 12 million people each by 2030 and most (88%) of the nation’s population growth will occur in the South and West. The top five fastest-growing states in the next 25 years are projected to be: Nevada (114%), Arizona (109%), Florida (80%), Texas (60%), and Utah (56%).

The Texas Coast has a strong, growing, and diverse economy

Do not follow growth, anticipate growth. A growing local economy is the most important driving force behind property values.

According to the Texas Real Estate Center: The Texas economy continues to surpass the rest of the nation in employment growth rate and job creation.

Texas ranks 12th among all states in personal growth income which is a factor closely related to total economic output. A higher-than-national-average growth rate means the state's economy is growing, and growing strongly.

“Despite the national slowdown, Texas is still strong,” says James Gaines, Ph.D., research economist with the Real Estate Center at Texas A&M University. “There’s no reason prices shouldn't continue to rise despite the increase in foreclosures and the slowdown in transactions, construction, and new-home starts.”

The Majority of statewide interest for the area is coming from San Antonio and Austin. Both of which have been experiencing tremendous economic and population growth.
	On the national level interest to the Port Aransas area comes from California, Florida and the East Coast where prices for waterfront property have skyrocketed in the past few years.

New Developments Are Changing Port Aransas Landscape

Port Aransas is a “diamond in the rough” and in the early stages of a major significant growth period. It has not reached the saturation point of many Florida resort communities and until it does, there is money to be made for the smart investor/developer. San Antonio and Austin's

The group of retired visitors who typically converge on Port Aransas around October of each year and remain through March are referred to as Winter Texans. The Chamber of Commerce estimates an annual Winter Texan population is between 7,500 and 10,000. The average length of their stay is estimated to be 3 months. A significant number of these visitors buy condos and 2nd homes in the area.

Because of Port Aransas' current growth potential, new developments are already under way throughout the area. Major developers such as Sea Oats Group and Newport Villages developers (led by Craig J. Millard and C. L. Castor, Jr.) have already seen that this area will continue to be a main destination for those seeking a family vacation getaway and for those retirees looking for a tropical climate and sandy beaches along with activities such as fishing, boating and golfing.

Developers of Newport Beach and Golf, an 1,800-acre resort community on Mustang Island in Texas, have reported that work is proceeding nicely on the Arnold Palmer Signature Course located within the resort, and it is scheduled to open in spring 2008. This coastal destination, which will ultimately boast residential villages, multiple hotels, a marina, tennis and beach clubs, two golf courses and recreational amenities on Mustang Island, will be located on the south end of Port Aransas.

Cinnamon Shore, a $235 million project headed by developer Jeff Lamkin, a Texas native, is located near the town of Port Aransas on the storied Mustang Island, just a half-hour's drive south of Corpus Christi. Its unique design incorporates high-end amenities such as beach walkovers, swimming pools with natural sand beaches, workout facilities, large green spaces, meeting locations, and natural walking trails. Near the community's center, a unique live-work environment will offer commercial stores and shops on the main floor with residential living spaces on the upper levels. The 60-acre development also offers its residents 1,100 feet of pristine Gulf shoreline beaches.

With all of Port Aransas' attractions, new developments under construction and beautiful beaches all just a drive away from large metropolises such as San Antonio and Austin it is no surprise that this area is quickly becoming one of the most sought after communities on the Texas Coast.  Prices are still very affordable for those looking for an investment property, a second home or a place to retire. Let us help you find your ideal home! 

Read Our Predictions About The Texas Gulf Coast Real Estate Market!

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Comparative Market Analysis Sample

Interested in more data about the Texas Coast Real Estate Markets?

Our Sales Statistics pages are the answer! Along with the Sales Median Price Analysis, our registered users have access to the following information:

• Sales Analysis
• Time-On-Market Analysis
• Buyer Preference Analysis
• Sales vs. New Listings Analysis
• New Listings Analysis
• Comparative Market Analysis

A comparative market analysis is an informal assessment of a property's market value, usually done to establish a reasonable listing price when a property is placed for sale. The price is established by comparing the property to similar properties that have sold in the area within the past year.

The analysis is normally done by a real estate agent who has easy access to area sales records. We have given registered users the ability to generate their own Comparative Market Analysis (CMA) based on data relevant to their own properties.

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