Dallas Area Residential Sales Report for June – Garland TX

Sales in the Garland area took a pounding in June. Falling 20% from last June. Pending sales were not as bad only down 13%. Not looking good for July. The average sales price increased 8% as did the median sales price.

There was a slight increase of 2% in the number of new listings. Active listings jumped 45%. this number is a little misleading because the number of active listings last June was extremely low. The best number to look at is the months of inventory and it now stands at 1.9 months. with 6 months considered a balanced market, Garland is very titled to the sellers side.

The market is slowing down. We are seeing a lot of price reductions and showings are diminishing.

Sales: 183

Average Sales Price: $223,633

Median Sales Price: $205,000

Pending Sales: 198

New Listings: 278

Active listings: 278

Months of Inventory: 1.9

Information provided by The Real Estate Center

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