The prices in real estate in Galveston, in the Texas region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Galveston has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $245. In the following month the price per sq.feet decreased to $214. The price for the following two months in (June, July) decreased 89 % with regard to the prior two months. The price per sq.feet has decreased 91 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $216.75 to $198 during August, and September.
Based upon to the price in Galveston (cities), these have remained the same in the last 6 months. In our first sample month during April, the average price is $337,541. In May This price remains at $335,396. In the following two months the average price has remained the same with regard to the previous two months from $336,468.5 to $321,126. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $328,797.25 and $325,383 between August and September.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $358,353 they are 60 % more affordable than the average price for Galveston. The properties with the highest average price have 4 bedrooms, Their price is 57 % more costly than the average. After that we have properties with 3 bedrooms priced at $353,951.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $211 / sq.feet, with an average $214 / sq.feet price in Galveston. The properties with the highest average prices have 4 bedrooms. They are 10 % more expensive than the average followed by properties with 1 bedroom with a price at $231 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $358,353 it is 27 % cheaper than the average price in Galveston. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $264,701 it is 17 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of $164 / sq.feet followed by "Condo" priced at $169 / sq.feet. "House" is the most costly type of property with a $224 / sq.feet cost followed by "Condo" with an average price of $169 / sq.feet.