>Single-family home sales in Galveston County real estate market area were down 8.31% May YTD 2008 over the previous year during the same time frame with 1,611 home sales recorded in the Houston MLS year to date. There were 1,757 closed home sales last year during the same time frame.

>Pending contracts recorded May YTD 2008 were down by 12.93% compared to last year.  Pending units recorded year-to-date currently stand at 1,172 units whereas last year, pending units were 1,346.

>Galveston Homes on the Market reached 2,772 units in May 2008 and are up by 2.55% over last year, where inventory was 2,703.

>Galveston Countys real estate average sales price is $190,525 and that figure is down by 2.71% over last year.  The median sales price for is down 1.38% and the midpoint price range is $157,800.

>Galveston County currently has 8.4 months of inventory, placing the market in a balanced position where neither the buyer or the seller has a market advantage over one another.  Last year, Months of inventory was 7.9.  Days on the market [DOM] to sell a home in Galveston County is currently 93 and that is less than last years 97 DOM and a good thing indeed.

>The average price per square foot year-to-date is $91 and a seller can expect to gross an average of 95% of the list price for a reasonably priced home.