Is Galveston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$445,361
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Galveston has remained the same since last year.
Summary: The median home sold price in Galveston was $445,361 in April 2024, down 0.2% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $198.1K | $197.5K | -0.3% |
| 2 Bedrooms | $345K | $332.2K | -3.7% |
| 3 Bedrooms | $520.6K | $515K | -1.1% |
| 4 Bedrooms | $790K | $750K | -5.1% |
| 5+ Bedrooms | $900K | $1.1M | +31.9% |
Summary: Galveston housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.3%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes increased by 31.9%.
Median Sold Price Compared To Nearby Cities
| Galveston | $446.3K | $445.3K | -0.2% |
| Jamaica Beach | $564K | $529K | -6.2% |
Housing Supply in Galveston, TX
How many homes are available in Galveston, TX?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 945 | 1,119 | +18.4% |
Summary: The Galveston real estate market had 1,119 homes for sale in April 2024, a 18.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 139 | 164 | +18.0% |
| 2 Bedrooms | 199 | 221 | +11.1% |
| 3 Bedrooms | 373 | 451 | +20.9% |
| 4 Bedrooms | 159 | 197 | +23.9% |
| 5+ Bedrooms | 75 | 86 | +14.7% |
Summary: The Galveston housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes increased by 14.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 91 | 109 | +19.8% |
Asking Price vs. Sold Price
97 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Galveston, you may be able to get a good deal. 89% of homes here sold below asking price last month.
Summary: A total of 109 homes were sold or pending in Galveston in April 2024, up by 19.8% month-over-month. Of the 109 sold homes, 89% were sold under asking, 9% were sold at asking, and 2% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 55 Days | +1.3% |
Summary: Homes in Galveston had an average of 55 days on market in Apr 2024, up by 1.3% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
26 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 April 2024, 109 homes were sold in Galveston; 52% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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