There is a strong sense of urgency brewing. Buyers who have been sitting on the sidelines are preparing to pounce. The indicators are strong that the 2010 Galveston Real Estate market will surpass the 2009 Real Estate market by leaps and bounds.
Why? How do we know this? It is a simple matter of data. In the last 3 months the number of months to sell a home on the West End of Galveston has decreased from 23 to 21.
There are currently 20 West End Second Homes (discretionary) pending. These homes range in price from $109,000 to $1,300,000.
While the higher end Real Estate market (above 500,000) continues to suffer we are experiencing an increase in buyer activity. 1/4 of the West End pending sales will close at $500,000 and better.
All of this activity is occurring during our "off" season. The buyers continue to peruse the inventory as indicated by Prudential's internet activity reports.
The momentum is growing. As the stock market continues to climb and Houston's economy continues to grow so will Galveston's Real Estate market.
Are you going to miss the bottom of Galveston's Real Estate market? Will you be the one next year wishing you had taken advantage of motivated sellers, low interest rates, and 2004 real estate market prices?
The season begins again in March. Why not beat the rush???
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