GALVESTON - Island real estate statistics continue to show encouraging signs, with first quarter residential sales up 17.5 percent over the same period a year ago. The number of sales was 121 in 1Q 2013, compared with 103 a year ago, according to the Galveston Association of Realtors.
Among the highlights, the island’s residential inventory is at an 8.4-month supply, down from 10.9 months last year, marking a decrease of 23 percent.
West End transactions accounted for 69 percent of all island sales. Total island sales were more than $32 million, with West End transactions at nearly $22 million.
Not included in the 121 transactions was the sale of 17 West End residential lots. Lot sales are up 30.7 percent.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.