Prudential Gary Greene, Realtors
Galveston and Tiki Island, Texas
Offering full service Real Estate and Vacation Rentals on Galveston Island, Tiki Island, Jamaica Beach, and the entire Galveston County
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January 2008 Real Estate Sales Overview
Posted on February 12, 2008
Below is a summary of January 2008 Real Estate sales as taken from the Galveston MLS:
Home sales are down 37% ($5,535,701) in volume and down 25% (14) in units when compared to January 2007. The average sales price fell 16% ($42,763).
This is why it is imperative that a home be priced competitively with similar homes in the neighborhood. Realtors will tell you that the lowest priced home in the neighborhood is the home that will sell first a majority of the time. It is a highly competitive buyer's market that we will be watching closely over the next few months.
A majority of the national predictors are suggesting a flattening of the housing market through the Summer with a gradual appreciation late in the year. We are already seeing a slight appreciation in a few of our high end neighborhoods where demand remains strong for new homes on the water. Please contact your REALTOR for more information.
