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Galveston Housing Market

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aggiedata
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1:22p, 8/16/26
AG
Is this what others have seen? 6 years worth of inventory?





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SteveBott
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1:42p, 8/16/26
AG
Just a casual guess: insurance. Years ago one of my clients moved out of Galveston because his insurance was higher than his tax bill. Also Covid saw a binge of purchases to have a vacation place to go to.
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Red Pear Realty
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2:22p, 8/16/26
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AG
I'm on my phone so the data might not be 100% accurate due to operator error, but I'm seeing 97 closings in Galveston in the last 30 days and 824 active listings. That's for the entire island. So roughly 8 months of inventory. That's a lot different story than eight years or whatever that tweet said.


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Red Pear Realty
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2:23p, 8/16/26
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AG
Also, August is not peak sales season for Galveston.
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Heineken-Ashi
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In reply to Red Pear Realty • 3:08p, 8/16/26
Red Pear Realty said:
Also, August is not peak sales season for Galveston.

When is peak "I bought my AirBNB Gaveston house at the peak of the market having no idea how real estate investing works and now I not only have no equity but will have to bring money to the table and sell below loan value" season?
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Red Pear Realty
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In reply to Heineken-Ashi • 9:17p, 8/16/26
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AG
Now through probably the next 36 months?
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Diggity
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6:53a, 8/17/26
AG
No doubt Galveston has a crap ton of inventory but that lady exaggerates everything for clicks.
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Yesterday
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7:55a, 8/17/26
AG
I'm wondering if they're including Bolivar with that number? For sure a "click bait" headline though.
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Martin Q. Blank
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In reply to Red Pear Realty • 8:15a, 8/17/26
Red Pear Realty said:
I'm on my phone so the data might not be 100% accurate due to operator error, but I'm seeing 97 closings in Galveston in the last 30 days and 824 active listings. That's for the entire island. So roughly 8 months of inventory. That's a lot different story than eight years or whatever that tweet said.

A local realtor told me 8 months total inventory for Galveston. But there are areas up to 2 years, particularly on the west end like Jamaica Beach. Her tweet shows Sea Isle which is even more west so maybe it's worse than 2 years.
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Heineken-Ashi
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9:05a, 8/17/26
First hand reference who owns in a nice neighborhood in the western portions says the high end homes are still selling, while the mid to low end aren't. Fits with K-shaped economy.
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Diggity
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In reply to Red Pear Realty • 9:56a, 8/17/26
AG
looks like she's showing listings for all property classes besides rentals, so that "active number" isn't wrong, but throwing lot sales in there was an interesting choice.

If you remove lots from the equation and keep Single Family/TH/Condo/Highrise, you're at ~13 months of inventory. Still very much a buyers market for sure, but that wouldn't give Amy such a juicy headline.

Even if I keep lot sales in there, I show 98 closed sales in the past month, which would indicate ~17 months of inventory. Would love to see her math.
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EclipseAg
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12:43p, 8/17/26
AG
I follow Amy Nixon so I know her schtick, but even still I think she is off base here a bit.

It's not uncommon for people to put their beach houses on the market in August/September -- after peak rental season -- at an inflated price just to see if they get an offer. If so, great! If not, they hang on for another year and go through the process again.

Since it's a second home, there is less pressure to sell. I think is some of what you are seeing.

But she is right about one thing. Prices have fallen substantially since covid. I used to own in Pirates Beach so I follow that area. There were homes three or four streets back from the water that were selling for close to a million dollars in 2021-2022. Today, those homes are being listed in the $500K-$600K range -- still a big jump over a decade or so ago, but not so ridiculously priced.

ETA: In my limited experience, it can take a lot longer to sell a beach house because the target market is so small. So that's a factor, too.
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dubi
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In reply to SteveBott • 1:45p, 8/17/26
AG
SteveBott said:
Just a casual guess: insurance. Years ago one of my clients moved out of Galveston because his insurance was higher than his tax bill. Also Covid saw a binge of purchases to have a vacation place to go to.

Most people can't afford house, wind, and flood insurance.
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Diggity
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In reply to EclipseAg • 1:46p, 8/17/26
AG
was browsing through the recent sales in Pirates Beach and found a place that sold for over $1.3M in 2024 and $900K a few months ago. Ouch!

Another (older/smaller) property sold for $385K in 2021 and $250K this month
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CS78
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2:14p, 8/17/26
How are the rest of the Texas beach areas looking? Galveston is such a weird place. Part beach town, part big money Houston, part crap hole. All packed on an island that should be nicer than it is, in theory.
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Diggity
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2:33p, 8/17/26
AG
I think it's more surprising that anyone spends big money to be in Galveston considering it's a barrier island with brown water.

I like it for what it is (a beach town I can drive to after work for the weekend), but would never spend big $'s to live there.
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Yesterday
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In reply to Diggity • 2:36p, 8/17/26
AG
Diggity said:
was browsing through the recent sales in Pirates Beach and found a place that sold for over $1.3M in 2024 and $900K a few months ago. Ouch!

Another (older/smaller) property sold for $385K in 2021 and $250K this month


Not great Bob! It may take a decade but it'll bounce back. We have friends that bought a place down there. Airbnb is tough and they're forced to vacation there now. I actually enjoy Galveston. It's a crap beach but it's ours.
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EclipseAg
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4:30p, 8/17/26
AG
i mean, nobody is ever gonna mistake Galveston for 30A.

But if you live in Houston and own on the west end, you can make it to your house in an hour or so and the beaches aren't bad (and they aren't packed). Some beach lovers just enjoy being close to the shore. I never cared about "dirty water" or the other insults people think are funny. I could leave work on a Friday and watch the waves roll in from my deck before sunset.

Galveston gets a bad rap because 1) it's the county seat and many of its residents rely on government assistance so a lot of downscale/homeless types live there; and 2) because it's an easy drive from Houston, many of its visitors are just there for a cheap (or free) family day trip or weekend, which means businesses cater to that crowd.

But as others have said, there is a lot of big money in Galveston. The west end is filled with expensive houses, many built in the last 20 years. And so are many of the east end neighborhoods ... those old restored Victorians aren't cheap.
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rlb28
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4:53p, 8/17/26
AG
Just browsing, but I don't feel like people are discounting their sales price as much as you would think. Prices still seem high.
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Captain Winky
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9:05p, 8/17/26
Does anyone have actual costs for insurance? All I read is how expensive it is, but rarely see real numbers posted.
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Dr. Venkman
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In reply to Diggity • 9:30a, 8/18/26
AG
Diggity said:
was browsing through the recent sales in Pirates Beach and found a place that sold for over $1.3M in 2024 and $900K a few months ago. Ouch!

Another (older/smaller) property sold for $385K in 2021 and $250K this month

I got one of those a year ago. Definitely deals to be had.
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Dr. Venkman
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In reply to Captain Winky • 9:37a, 8/18/26
AG
Captain Winky said:
Does anyone have actual costs for insurance? All I read is how expensive it is, but rarely see real numbers posted.

I got a quote a year ago.
  • Dwelling $235k, $25k personal property, 1% deductible - $1379
  • Flood building $235k, $25k contents, $10k deductible - $2914, $5k deductible - $3124
  • Windstorm $235k, $25k personal property, 1% deductible - $3074, 2% deductible - $2355, 3% deductible - $1892, 5% deductible - $1364
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Captain Winky
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In reply to Dr. Venkman • 1:10p, 8/18/26
That is not nearly as bad as I was expecting. I am paying slightly less for Landlord Insurance in Houston.
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Diggity
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In reply to Captain Winky • 1:16p, 8/18/26
AG
you're paying 2.5-3% of replacement on your rental properties?
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AggieMarkSA
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In reply to Captain Winky • 10:06a, 8/20/26
Captain Winky said:
Does anyone have actual costs for insurance? All I read is how expensive it is, but rarely see real numbers posted.

I pay:
2400 for wind
~1000 for homeowners (that's for a property with renters)
4400 for flood.

I've just had an elevation certificate done on my house and submitted to the insurance company, so we'll see if that moves the needle at all.

eta:
Did the elevation certificate. Flood dropped from 4400 to 1900.
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Yesterday
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10:35a, 8/20/26
AG
For reference, whats the market value on these places? Thanks!
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Dr. Venkman
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In reply to Yesterday • 4:18p, 8/20/26
AG
Replacement cost above is $235k. This whole thread is about the fluctuating market value so I'm not sure about that.
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5Amp
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5:24p, 8/20/26
Just got quoted $290/ft^2 to build a beach house excluding property on the island of Galveston
…..west end.
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AggieMarkSA
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In reply to 5Amp • 9:39a, 8/21/26
5Amp said:
Just got quoted $290/ft^2 to build a beach house excluding property on the island of Galveston
…..west end.

where at? I had looked at building a few years ago, but with supply chain issues they were giving me numbers around 400/ft
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Dr. Venkman
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In reply to 5Amp • 10:27a, 8/21/26
AG
5Amp said:
Just got quoted $290/ft^2 to build a beach house excluding property on the island of Galveston
…..west end.

I have a lot for sale in Pirates.
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5Amp
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In reply to AggieMarkSA • 1:48p, 8/21/26
AggieMarkSA said:
5Amp said:
Just got quoted $290/ft^2 to build a beach house excluding property on the island of Galveston
…..west end.

where at? I had looked at building a few years ago, but with supply chain issues they were giving me numbers around 400/ft

Sunset Cove

Prices have come down due to materials are cheaper.

Any property on the island is negotiable as it is a buyers market.

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Retired Principal
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In reply to SteveBott • 7:31p, 8/21/26
AG
SteveBott said:
Just a casual guess: insurance. Years ago one of my clients moved out of Galveston because his insurance was higher than his tax bill. Also Covid saw a binge of purchases to have a vacation place to go to.


We live in northern Galveston County and pay over $4k in windstorm. Ridiculous!
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Pizza
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11:42a, 8/26/26
Republic Grand Ranch vacant land.

around 260 listings, with an average of around 5 sales/month for 52 months of inventory ....in 1 subdivision.

There is no logic in that place.
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AggieMarkSA
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In reply to 5Amp • 8:16a, 8/27/26
5Amp said:
AggieMarkSA said:
5Amp said:
Just got quoted $290/ft^2 to build a beach house excluding property on the island of Galveston
…..west end.

where at? I had looked at building a few years ago, but with supply chain issues they were giving me numbers around 400/ft

Sunset Cove

Prices have come down due to materials are cheaper.

Any property on the island is negotiable as it is a buyers market.


How tight are the architectural restrictions there?
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5Amp
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In reply to AggieMarkSA • 9:37p, 8/29/26
AggieMarkSA said:
5Amp said:
AggieMarkSA said:
5Amp said:
Just got quoted $290/ft^2 to build a beach house excluding property on the island of Galveston
…..west end.

where at? I had looked at building a few years ago, but with supply chain issues they were giving me numbers around 400/ft

Sunset Cove

Prices have come down due to materials are cheaper.

Any property on the island is negotiable as it is a buyers market.


How tight are the architectural restrictions there?

I have not committed to anything, just got a quote on a new home that is currently being build inside Sunset Cove,

I can get you his contact.

Nice gated community with access to the bay.

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