Single-Family:

Sales were up in Garland for June by 23%. The average sales price increased by 6% while the median sales price climbed by 15%. As we have found in other areas, the increase in the median sales price is indicative for more sales in the upper price ranges. Pending sales declined by 2%. this decline is probably caused by buyers simple unable to find properties to purchase. The number of new listings dropped by 6% wile the active listings fell by 27%. The months of inventory dropped sharply to 1.2 months.

Sales: 203

Average Sales Price: $171,587

Median Sales Price: $154,000

Pending Sales: 173

New Listings: 222

Active Listings: 193

Months of Inventory: 1.2

Leases:

Leasing activity increased by 21%. The average rent was up by 10% compared to a year ago while the median rent increased by 8%. The number of pending leases climbed by 150%. The new listings were up by 4% but the active listings fell 16%. the months of inventory now stands at 0.7 months. It’s very hard to find a lease property in Garland.

Leases: 74

Average Rent: $1,330

Median Rent: $1,300

Pending Leases: 40

Nes Listings: 87

Active Listings: 48

Months of inventory: 0.7

Information provided by The Real Estate Center at Texas A&M.