Garland TX Residential Sales Report for January

Sales declined 15% in January as comp[aired to the same time last year. The average sales price increased 7% and the median sales price rose 4%. We saw a drop of 10% in the pending sales numbers. New listings climbed 1% but the active listings fell by 9%. this dropped the months of inventory to 0.7 months.

The extreme shortage of homes on the market is the explanation for the drop in sales and also pending sales. there are plenty of buyers out there but they just can not find a home to purchase.

Sales:108

Average Sales Price: $181,576

Median Sales Price: $165,000

Pending Sales: 152

New Listings: 156

Active Listings: 120

Months of Inventory: 0.7

Information provided by The Real Estate Center