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South Galveston News

Tuesday, November 5, 2024

Galveston County home prices fell in first half of 2024

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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 half of 2024 in Galveston County fell by $13,081, while total sales decreased by 2.9%, according to BlockShopper.com.

From January through June of 2024, 741 homes were sold in the county, with a median sale price of $147,184. This is an 8.2% decrease from the $160,265 median sale price during the same period in 2023, when there were 763 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 June 2024.

Jan. - June 2023July - Dec. 2023Jan. - June 2024$160,265$160,265$151,601$151,601$147,184$147,184

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