Sales were up! It’s a Seller’s Market
Sales jumped 35% in December. The average sales price rose 19% while the median sales price increased by 22%. As we have seen in the past, it’s pretty clear that the sales were concentrated in the upper price ranges thus pulling the average up. Part of the reason for higher dollar properties selling is simply an extreme shortage of lower priced homes on the market.
Pending sales were up 30% so it looks like the January numbers will be good. The number of new listings did increase by 14% but the active listings fell by 8% leaving the months of inventory at 1 month.
Average Sales Price: $177,075
Median Sales Price: $154,900
Pending Sales: 140
New Listings: 128
Active Listings: 163
Months of Inventory: 1
If you live in the Garland area and would like a personalized Comparative Market Analysis (CMA) on your home delivered to your email in just a few minutes, then click the link below to take advantage of this offer.
Information provided by The Real Estate Center at Texas A&M.