Dallas Area Residential Sales Report for May – Garland, TX
Home sales in Garland fell 28% compared to last year. These sales were contracted for in March and April at the height of the shut down. The pending sales number tell a different story up 12% as buyers returned to the market in May. The average sales price rose 2% while the median sales price fell 1%. As in other areas the real story is what happened to new listings. In Garland case they declined by 8% and the active listings dropped by 26%. The months of inventory is now at 1.5 months. This very low supply is going to effect sales going forward as buyers will be having a hard time finding that dream home.
Sales: 167
Average Sales Price: $234,760
Median Sales Price: $215,000
Pending Sales: 249
New Listings: 231
Active Listings: 221
Months of Inventory: 1.5
Information provided by The Real Estate Center
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