The monthly absorption rates for the West End of Galveston Island are depicted above. Most notable is the fact that over the last 12 months 64% of the transactions sold for under $300,000; 77% under $400,000; and 85% under $500,000.
The number of units sold the 1st quarter 2011 equals the number of units sold the 1st quarter 2010 on the West End of Galveston. However the volume and average sales price has decreased 9%. Probably most notable is the inventory has decreased 11%. This will help stabilize the prices as the number of buyers increase this Summer.
