Garland TX Residential Sales Report for May

Low inventories effect sales

With very low inventories, Garland continues to have low sales numbers as buyers just do not have anything to purchase. Sales were up 1% in May. The average sales price rose 7%. The median sales price was up 9%.Pending sales climbed 12%. We did see a nice increase in the number of new listings which rose 12%. The active listings saw a jump of 68% but this number is a little distorted because last Mays active listings were extremely low. The months of inventory did increase to 1 month which is really not much help if you are a buyer.

Sales: 184

Average Sales Price: $ 206,220

Median Sales Price: $ 189,900

Pending Sales: 223

New Listings: 228

Active Listings: 173

Months of Inventory: 1

Information provided by The Real Estate Center