Dallas Area Residential Sales Report for May – Garland, TX

Dallas Area Residential Sales Report for May – Garland, TX

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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

#realestategarland #homesforsalegarland

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