RESIDENTIAL
E
clectic and diverse housing options dot Galveston from historic homes to waterfront living, downtown lofts to family dwellings. With investment in Galveston ongoing and development strong, the current housing market is growing as well.
Based on the comparison of Year End 2019 vs Year End 2020, residential real estate value and transactions have increased. Across the Island the dollar volume of sales increased 46%, following the number of transactions which also increased by 23%. The highest percentage of transactions occurred on the West End of Galveston, while other high activity
levels were reached within many different neighborhoods throughout the island. The median selling price INCREASED 14%, from $292,750 in 2019 to $333,125 in 2020; the average number of days a property was on the market decreased 12% from 74 days to 65 days.
DOLLAR VOLUME
# OF SOLD TRANSACTIONS
GALVESTON ISLAND
2020
2019
% CHANGE
2020
2019
% CHANGE
All Galveston Island
$484,221,361
$331,447,582
+46%
1190
968
+23%
West Galveston Island: Sunny Beach to Point West, Beach to Bay
$300,816,675
$203,443,404
+48%
587
471
+25%
$40,058,782
$33,422,656
+20%
107
98
+9%
$2,740,500 $6,696,500 $1,366,000 $8,040,870
$4,437,500 $4,361,900 $2,023,500 $3,910,000
- 38% +54% -32% +106%
7 14 5 16
14 10 7 9
- 50% +40% - 29% +78%
$74,029,232 $2,625,900 $3,595,000
$53,603,177 $2,818,000 $1,017,000
+38% - 7% +253%
305 5 9
254 6 3
+20% - 17% +200%
$68,776,772
$41,053,345
+68%
190
145
+13%
$55,858,400
$39,306,468
+42%
154
135
+ 14%
Near West Galveston Island 61st Street to Sunny Beach, Beach to Bay Colony Park Havre Lafitte Campeche Cove Evia Mid Galveston Island: 25th Street to 61st Street, Beach to Bay Cedar Lawn Denver Court East Galveston Island: East of 25th Street, Beach to Bay UTMB/Downtown/East End Lofts & Condos Only
ALL RESIDENTIAL SALES ON GALVESTON ISLAND - YEAR OVER YEAR MARKET RECAP 2020 VS. 2019 Average Days on Market 2020: 65 2019: 74 % Change: -12% Median Selling Price 2020: $333,125 2019: $292,750 % Change: +14% WEST END RESIDENTIAL SALES ON GALVESTON ISLAND - YEAR OVER YEAR MARKET RECAP 2020 VS. 2019 Average Days on Market 2020: 69 2019: 78 % Change: -12% Median Selling Price 2020: $425,000 2019: $365,000 % Change: +16% Data provided by Sand and Sea Properties
20 | 2021 GEDP Galveston Development Guide
