Baby boomers lovin' island livin'Baby boomers lovin' island livin'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=167322017-06-06T05:00:00Z2017-06-07T00:15:00Z

​​​Back deck at 4410 Bob Smith Drive Gavleston TexasGALVESTON – The housing market has come a long way since 2008, when Hurricane Ike devastated the Gulf Coast region. The beach expansions have renewed interest in Galveston’s vacation homes, according to Galveston Realtor Andrea Sunseri.

Despite a slight dip in sales activity in 2015, Galveston's housing market has rebounded from the oil slump as a growing number of retiring Baby Boomers and empty-nesters are coming to live and play in Galveston.

Buyers are attracted to Galveston's beachfront homes, which are generally more affordable than those in retirement hotspots like Florida, Sunse​ri said.

However, a lack of home inventory on the island is driving up sales activity—and prices.

Median home prices have jumped 19 percent between 2013 and 2016.

​​At the same time, the average number of days a home listing stays on the market has been halved, from 144 days in 2013 to just 78 days in 2016, according to Houston Association of Realtors (HAR).​​

Houston Business Journal
Houston-The Woodlands-Sugar Land

​Check out Houston Housing Market Research.

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