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Wednesday, December 25, 2024

Galveston County home valuations fell in Q1

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Galveston County Clerk Dwight D. Sullivan (2023) | Galveston County

Galveston County Clerk Dwight D. Sullivan (2023) | Galveston County

The median sale price of a home sold in the first quarter of 2024 in Galveston County fell by $9,540, while total sales decreased by 4.9%, according to BlockShopper.com.

From January through March of 2024, 333 homes were sold in the county, with sale prices around $145,060. This is a 6.2% decrease from the $154,600 median sale price during the same period in 2023, when there were 350 homes sold.

The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.

The following histogram displays changes in median sales prices in Galveston County from January 2023 to March 2024.

Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024$154,600$154,600$164,690$164,690$157,477$157,477$144,938$144,938$145,060$145,060

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