Galveston Real Estate Looking Better

I was working with the MLS today to get some of the newest numbers and see how things are looking. The data is as follows:

605 residential listings in Galveston

48 pending

_________

557 active

53 sold in last 30 days

37 expired in last 30 days

103 new listings last 30 days

or: 138 sold/pending/expired in last 30 days vs 103 new listings... net change - 35 properties off the market.

My take: It looks great! Galveston's best time to buy vacation/resort homes is in the off season, but its also our "slow" time. Prices have come down significantly and it looks like buyers are taking advantage. Though its clearly a buyers market now... if the trends continue into the next spring, our inventory may go down down down. It may even convert over to a neutral market in 2011... so my thought is... you cant tell the future of Real Estate, but with interest rates super low and a strong buyers market going into Galveston's off-season-- THE TIME TO BUY IS NOW!