Real Estate stats

A sold sticker is placed on a real estate sign at a house on Silver Reef on the West End of Galveston on Thursday, Feb. 11, 2021. Residential property sales increased 23 percent in 2020.

Sales of Galveston residential properties rose 23 percent in 2020 as intense demand and tightening inventory set off bidding wars, sending prices soaring and the island deep into a seller’s market.

Demand, which shows no signs of cooling, is propelled by low interest rates, pandemic-weary families seeking larger houses as they work and attend school from home and buyers looking for safe investments in a city offering much in the way of outdoor recreation.

Laura Elder: 409-683-5248; laura.elder@galvnews.com.

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