Galveston vacation home sales rise with market tidesGalveston vacation home sales rise with market tideshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=60782013-10-10T06:47:00Z2013-10-10T00:00:00Z

GALVESTON - From January 2013 to date, Galveston Island brokerage firm Sand N Sea Properties sold 248 homes, a 38 percent increase over the same period in 2012 with 181 properties sold, about 85 percent of which are considered vacation or secondary.

So far in 2013, the firm’s highest price per sf has reached $400 with an average price around $200 per sf. The highest-priced home the company sold this year went for $1.35 million. During the same in 2012, the highest price per sf was at $355 with the highest-priced home selling for about $1.3 million.

The average amount of time that secondary homes stay on the market in the area is about 125 days, down from 141 days during the same period in 2012, according to Sand N Sea.

Homes that closed at more than $500,000 in the Galveston area also increased year to date — more than 56 percent, according to the Houston Association of Realtors. There were 58 homes sold so far in 2013 in that category, with an average price of $712,339. During the same period in 2012, there were 37 homes sold with an average price of $737,892.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/blog/breaking-ground/2013/10/area-vacation-home-sales-rise-with.htmlRead more at {Source}

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