Garland TX Residential Sales Report for July

Sales were really hot in July

Sales were up a strong 22% in July as compared to last July. The average sales price rose 20% and the median sales price climbed 24%. I know those increases look terrible if you are a buyer, but sales have been concentrated in the upper price ranges and that’s pulling the averages up. Pending sales declined 1% but after such a large rise in sales that’s to be expected. The number of new listings increased 6% while the active listings were up 45%. Even with this large increase, the months of inventory only rose to 1.3 months. It’s a Sellers Market for sure.

Sales: 228

Average Sales Price: $221,626

Median Sales Price: $205,000

Pending Sales: 205

New Listings: 258

Active Listings: 238

Months of Inventory: 1.3

Information provided by The Real Estate Center