Report for the week of: January 23, 2012
The median list price in GALVESTON,TX this week is $264,500. The 543 properties have been on the market for an average of 303 days.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing,these are relatively negative implications for the market.
Supply and Demand
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Median Price
This week saw relatively little price change from last week. However the market appears to be trying to establish an uptrend.
The Market Action Index is a good leading indicator for the durability of this trend.
Price per Square Foot
The price per square foot is increasing a bit recently and overall price trends haven’t shown a consistent upwardly push. This can imply that investment conditions are opportunistic. Watch the Remodel Index for a more detailed analysis of the investment opportunity in the area.
The Median List Price for single-family homes (all zip codes) in Galveston, TX is $250,000. Inventory has been lightening up lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
13450 FM 3005 Galveston, TX 77554
