Galveston, Texas is located in the county with the same name and is considered to be in the Houston-Sugar Land-Baytown metropolitan area. Galveston is actually located on Galveston Island, just off shore of the Texas mainland. It is considered to be one the United States’ major sea ports, which provides for the core of the economy for the city. Its main resources revolve around tourism and shipping.
Due to the city’s tourism, much of the Galveston real estate activity will usually be centered on properties that are located near the beachfront, proving to be great investments as vacation homes and possibly even timeshares. The city attracts about five million tourists each year, allowing for Galveston real estate property to be a highly wanted commodity.
Average listing prices for Galveston real estate is about $300,000, with areas located within the tourists’ areas or regions listed at slightly higher prices. However, the actual sales price average is much lower, only at about $85,000. These relatively low prices for property on a tourist location, particularly those situated near the beachfront, will prove to be a very worthy investment for many, either as a business opportunity or simply as a secondary or vacation home.
Furthermore, Galveston real estate, such as condominiums and smaller houses on near the tourists’ areas can prove to be relatively cheap when considering their location, with average asking prices between $40,000 and $80,000. Larger homes may prove to have higher prices, though these homes will go for higher prices in similarly designed homes in other parts of the country.
