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Thursday, November 21, 2024

Galveston County home valuations rose in September compared to the same period in 2023

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

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

In September, the median sale price of a home in Galveston County rose by $7,790 from the same period in the previous year, while total sales decreased by 9%, according to BlockShopper.com.

There were 101 homes sold in September, with a median sale price of $175,840 — a 4.6% increase over the $168,050 median sale price during the same period of the previous year. In comparison, 111 homes were sold in Galveston County in September 2023.

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 September 2023 to September 2024.

September 2023October 2023November 2023December 2023January 2024February 2024March 2024April 2024May 2024June 2024July 2024August 2024September 2024$168,050$168,050$143,150$143,150$140,950$140,950$151,710$151,710$143,942$143,942$147,171$147,171$148,193$148,193$164,806$164,806$153,400$153,400$142,151$142,151$159,880$159,880$151,248$151,248$175,840$175,840

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