Does anyone have insight as to where beach house prices might be going? I've been following a few areas in west Galveston and also Port Aransas since I own or have owned property there in the past 4 years.
From a pure listing standpoint property values have shot up as high as 100%. Anecdotally, it seems like houses are staying on the market longer and I'm actually beginning to see some listing prices drop.
Are they selling these houses at such a high rate or are people just listing high to see what happens - and not selling as much?
With interest rates rising I'm wondering where the buyers will be coming from that weren't looking around 3 years ago in the same area. Who will afford a little 1,800' dump for $800K that was holding out 3 years ago when the price was $400K?
From a pure listing standpoint property values have shot up as high as 100%. Anecdotally, it seems like houses are staying on the market longer and I'm actually beginning to see some listing prices drop.
Are they selling these houses at such a high rate or are people just listing high to see what happens - and not selling as much?
With interest rates rising I'm wondering where the buyers will be coming from that weren't looking around 3 years ago in the same area. Who will afford a little 1,800' dump for $800K that was holding out 3 years ago when the price was $400K?