Single-Family:

Sales fell 5% in the Garland area for the month of July. The average sales price increased 13% while the median sales price rose14%. We continue to see the sales concentrated in the upper price ranges mostly due to the extreme shortage of properties in the lower ranges. Pending sales dropped 12% so we can anticipate that the August sales number will be down. The number of new listings declined 9% and the active listings fell by 33%. The shortage of inventory is making it very difficult for buyers to find anything to purchase. The months of inventory now stands at 1month.

Sales: 190

Average Sales Price: $185,251

Median Sales Price: $169,000

Pending Sales: 207

New Listings: 243

Active Listings: 164

Months of Inventory: 1

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