The prices in real estate in Galveston, in the Texas region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Galveston has increased strongly during the last 6 months. In January, the average price per sq.feet was $209. In the following month the price per sq.feet increased considerably to $245. The price for the following two months in (March, April) decreased 92 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 134 % 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 $217.5 to $291.5 during May, and June.
Based upon to the price in Galveston (cities), this has gone up considerably in the last 6 months. The price in January is $373,125, rising in February till $422,388. In the following two months the average price has remained the same with regard to the previous two months from $397,756.5 to $391,014. Based on an analysis of the first four prices and the last two months the average price has risen strongly 170 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $813,160 they are 80 % more affordable than the average price for Galveston. The properties with the lowest average price have 4 bedrooms, Their price is 25 % cheaper than the average. After that we have properties with 3 bedrooms priced at $346,551.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $206 / sq.feet, with an average $313 / sq.feet price in Galveston. The properties with the lowest average prices have 4 bedrooms. They are 14 % cheaper than the average followed by properties with 1 bedroom with a price at $234 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $813,160 it is 68 % cheaper than the average price in Galveston. "Villa" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condo". At a price of $297,633 it is 22 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of $155 / sq.feet followed by "Villa" priced at $165 / sq.feet. "House" is the cheapest type of property with a $283 / sq.feet value followed by "Condo" with an average price of $255 / sq.feet.