Galveston Real Estate has been ranked the second most expensive real estate in the country by real estate investment trust (REIT) SRI International.
This year, the real estate company posted a return of 2.53 per cent and has a market capitalisation of $2.65 billion, according to REITs website.
The REIT said that the return was based on a $10,000 purchase price, and that the average purchase price in Galvestons metro area is $1,200,000.
However, the company reported that the median price for a two-bedroom home is $4,400,000 and the average home price is $8,200.
The company also reported that average occupancy rates are in the 70 per cent range in its market.
In terms of revenue, the firm had a $1.1 billion revenue in 2017, according the SRI.
The firm has over 100 employees and has operations in several states, including Texas, California, New York, Georgia, Illinois, Ohio, Virginia, Georgia and Florida.
The real estate agency was founded in 2011.
The agency has been expanding its offerings to include commercial properties, residential properties, retail properties, commercial real estate and hotel properties.