Galveston TX Real Estate :: Vacation Homes :: Beach Houses :: Tiki Island :: Rentals

Below are the 2007 sales compared to 2006 for Galveston Island as recorded in the Galveston MLS. The volume of sales for the residential market rose 4% and land sales rose 27% as compared to 2006. The average sales price continues to increase.

Again, the condo resale market is lagging behind but as commented at Galveston MLS Sales in Review there are several new developments under construction on Galveston Island deferring resales to new sales which are not recorded in the Galveston MLS. At least one project is slated to post their sales in the MLS once they have completed construction and closed.

The Galveston Market continues to appreciate in value with the average sales price increasing 8%.

2007 Solds compared to 2006 Solds on Galveston Island

		Qty Sold	% Chg	Volume Sold	% Chg	Average Sale	% Chg
RESIDENTIAL
	Current Period	661		173,617,057		262,658
	One Year Ago	652		167,497,883		256,898
	Increase/(Decrease)	9	1%	6,119,174	4%	5,760	2%
LAND
	Current Period	113		18,148,929		160,609
	One Year Ago	127		14,328,150		112,820
	Increase/(Decrease)	-14	-11%	3,820,779	27%	47,789	42%
CONDO/TOWNHOUSE
	Current Period	160		27,374,326		171,089
	One Year Ago	234		37,556,192		160,496
	Increase/(Decrease)	-74	-32%	-10,181,866	-27%	10,593	7%
ALL CLASSES
	Current Period	934		219,140,312		234,626
	One Year Ago	1,013		219,382,225		216,567
	Increase/(Decrease)	-79	-8%	-241,913	0%	17,825	8%

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Galveston Island/Tiki Island Real Estate Updates
by PGG Realtors