Market Update: 77554 Homes for Sale – April 30, 2012
The median list price in GALVESTON,TX 77554 this week is $362,000. The 412 properties have been on the market for an average of 280 days.
The Market Action Index has been basically flat recently, and days-on-market decreasing, there are not strong signals for the direction of the market.
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
Median Price
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
Price per Square Foot
Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there’s a portion of the market being priced at a premium. You can investigate this condition in the quartile details.
Inventory
Inventory has been relatively steady around these levels in recent weeks.
Market Action Index
The GALVESTON, 77554 market is currently quite strongly in the Buyer’s Advantage zone (below 30). The 90-day Market Action Index stands at 11.73. With several months of inventory available at the current sales rate, buyers should find ample choice.
Days on Market
The properties have been on the market for an average of 280 days. Half of the listings have come newly on the market in the past 172 or so days.