The median list price in GALVESTON, TX this week is $275,000. The 631 properties have been on the market for an average of 271 days. Inventory is up and Market Action is trending down recently. While days on market appears to be trending lower, the overall conditions are weakening a bit.

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

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Price per Square Foot

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

Inventory

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

Market Action Index

The GALVESTON market is currently quite strongly in the Buyer’s Advantage zone (below 30). The 90-day Market Action Index stands at 13.85. 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 271 days. Half of the listings have come newly on the market in the past 176 or so days.