Is Galveston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Galveston was a Seller's Market.
Key Takeaway
Galveston is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Galveston, TX
How much do homes in Galveston, TX cost?
Median Sold Price
$449,944
$337/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Galveston have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Galveston was $449,944 in March 2024, up 2.1% from last year, and the median price per square foot was $337.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $196K | $195K | -0.5% |
| 2 Bedrooms | $345K | $336.7K | -2.4% |
| 3 Bedrooms | $525K | $515K | -1.9% |
| 4 Bedrooms | $759K | $782.5K | +3.1% |
| 5+ Bedrooms | $977.5K | $1.0M | +11.0% |
Summary: Galveston housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 11%.
Median Sold Price Compared To Nearby Cities
| Galveston | $440.8K | $449.9K | +2.1% |
| Jamaica Beach | $558.5K | $525K | -6.0% |
Housing Supply in Galveston, TX
How many homes are available in Galveston, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 825 | 1,045 | +26.7% |
Summary: The Galveston real estate market had 1,045 homes for sale in March 2024, a 26.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 130 | 151 | +16.2% |
| 2 Bedrooms | 176 | 221 | +25.6% |
| 3 Bedrooms | 329 | 418 | +27.1% |
| 4 Bedrooms | 130 | 174 | +33.8% |
| 5+ Bedrooms | 60 | 81 | +35.0% |
Summary: The Galveston housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.2%, 2 bedroom homes increased by 25.6%, 3 bedroom homes increased by 27.1%, 4 bedroom homes increased by 33.8%, and 5+ bedroom homes increased by 35%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 73 | 84 | +15.1% |
Asking Price vs. Sold Price
65 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Galveston, you may be able to get a good deal. 77.4% of homes here sold below asking price last month.
Summary: A total of 84 homes were sold or pending in Galveston in March 2024, up by 15.1% month-over-month. Of the 84 sold homes, 77% were sold under asking, 15% were sold at asking, and 7% were sold over asking.
Days on Market for Galveston, TX
How long does it take to sell a home in Galveston, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 59 Days | +0.8% |
Summary: Homes in Galveston had an average of 59 days on market in Mar 2024, up by 0.8% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Galveston are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 84 homes were sold in Galveston; 46% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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