§         Single-family home sales in Galveston County year-to-date were up 5.48%  through November 2007 over the previous year during the same time frame. There were 3,888 home sales recorded in the Houston MLS year to date as compared to last year where 3,686 closed home sales.

§         Pending contracts recorded November YTD 2007 were up by 7.62% compared to last year.  Pending units recorded year-to-date currently stand at 2,782 units whereas last year, pending units were 2,585 units.

§         Galveston Homes on the Market reached 2,800 units in November 2007 and are up by 14.61% over last year, when inventory was 2,443.

§         Galveston County’s average sales price is $196,002 and that figure is up by 6.82% over last year.  The median sales price, where half the homes sold above and half sold below, is up by 6.67% and is currently $160,000.

§         Galveston County currently has 8 months of inventory.  Last year Months of inventory were 7.8.  Days on the market [DOM] to sell a home in Galveston County is currently 91 and that is longer than last year’s 81 DOM.

§         While Galveston County has experienced a great market, with a 5.4% increase in sales, a 14.61% increase in supply has slowed home price appreciation and created more competition for home sellers. Listings should be precision priced at its current 95% list price/sales price ratio or higher and should be staged in showcase condition to attract the best offer.