Monica Foster Team of eXp Realty
Galveston, TX
Single-Family Homes
Who You Choose Matters! - 4.9/5.0 850+ Reviews - RealtyByMonica.com
Galveston, TX
Mon Jun 21 2021
This week the median list price for Galveston, TX is $479,900 with the market action index hovering around 53. This is an increase over last month's market action index of 52. Inventory has increased to 219.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $479,900 | |
| Median Price of New Listings | $398,500 | |
| Per Square Foot | $258 | |
| Average Days on Market | 56 | |
| Median Days on Market | 28 | |
| Price Decreased | 25% | |
| Price Increased | 5% | |
| Relisted | 5% | |
| Inventory | 219 | |
| Median Rent | $1,695 | |
| Market Action | 53 | |
| Strong Seller's Market | ||
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $992,499 | 2,875 | 0.25 - 0.5 acre | 4 | 3 | 20 | 10 | 6 | 35 |
| $595,000 | 2,006 | 4,500 - 6,500 sqft | 4 | 2 | 36 | 9 | 10 | 21 |
| $399,000 | 1,719 | 4,500 - 6,500 sqft | 3 | 2 | 61 | 12 | 9 | 14 |
| $239,900 | 1,124 | 4,500 - 6,500 sqft | 2 | 1 | 56 | 16 | 10 | 28 |