The median list price in GALVESTON, TX 77550 this week is $149,950. The 152 properties have been on the market for an average of 211 days.
Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
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
Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.
Price Per Square Foot
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
Inventory
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
Market Action Index
The GALVESTON, 77550 market is currently quite strongly in the Buyer’s Advantage zone (below 30). The 90-day Market Action Index stands at 15.35. With several months of inventory available at the current sales rate, buyers should find ample choice.
Average Days on Market
The properties have been on the market for an average of 211 days. Half of the listings have come newly on the market in the past 120 or so days.
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
