Inventory is very low!
Dallas Area Residential Sales Report for October-Garland, TX
Home sales were 25% higher than last October. Pending sales were only up 3% as the inventory shrinks. The average sales price jumped 15% while the median sales price increased 14%. Buyers are having to move up in the price ranges to find homes. New listings declined 17% and the active listings fell 62%. The months of inventory is now at 0.7 months. How short are we? Well 6 months is considered a balanced market.
Average Sales Price: $255,613
Median Sales Price: $239,000
New Listings: 184
Active Listings: 141
Months of Inventory: 0.7 months
Information provided by The Real Estate Center
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