Is Downtown Galveston, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Downtown Galveston is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Downtown Galveston has remained a Buyer's Market.

Key Takeaway

Downtown Galveston is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Downtown Galveston, TX

How much do homes in Downtown Galveston, TX cost?

Median Sold Price

$442,500

$215/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$141,000(+46.8%)

Key Takeaway

Homes in Downtown Galveston have sold for 46.8% more than they did a month ago.

Summary: The median home sold price in Downtown Galveston was $442,500 in October 2024, up 46.8% from last month, and the median price per square foot was $215.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 $301.5K-
N/A
2 -$410K
N/A
3 -$475K
N/A
4 --
N/A
5+ --
N/A

Summary: Downtown Galveston housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Galveston Harbor
+166.2%
The Strand National Historic District
+57.5%
Downtown Galveston
+46.8%

Housing Supply in Downtown Galveston, TX

How many homes are available in Downtown Galveston, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2023+15.0%

Summary: The Downtown Galveston real estate market had 23 homes for sale in October 2024, a 15.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1012
+20.0%
2 66
0.0%
3 44
0.0%
4 01
+100.0%
5+ 00
0.0%

Summary: The Downtown Galveston housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Downtown Galveston, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Downtown Galveston in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Downtown Galveston, TX

How long does it take to sell a home in Downtown Galveston, TX?

Average Sale Time

Sep 2024Oct 2024CHANGE
40 Days63 Days+57.5%

Summary: Homes in Downtown Galveston had an average of 63 days on market in Oct 2024, up by 57.5% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Downtown Galveston has remained consistent over time.

Summary: During October 2024, 2 homes were sold in Downtown Galveston; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Downtown Galveston, TX

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