Sales were up. Supply continues to decline.
Sales jumped 24%. The average sales price increased by 10% as compared to a year ago. The median sales price rose 17%. Sales continue the trend of being concentrated in the upper price ranges. Not because there are no buyers for the lower price range homes, but because there is an extreme shortage of homes in the lower price ranges on the market. Pending sales rose 25%. The number of new listings fell 8% while the active listings declined by 22%. This dropped the months of inventory to 0.8. This brought Garland into the company of Richardson and Carrollton/Farmers Branch with the lowest inventory levels in the Metroplex.
It should go without saying that the Garland area is very much a Seller’s Market.
Average Sales Price: $169,110
Median Sales Price: $155,000
Pending Sales: 168
New Listings: 154
Active Listings: 132
Months of Inventory: 0.8
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.