Welcome back, everyone! I’m Marie Walton, a REALTOR® with Ebby Halliday, REALTORS, here in beautiful Garland, Texas. Today, I have an exciting market update for all you buyers and sellers out there. So, let’s dive right in!

As of August 2023, we currently have a total of 1.98 months supply of inventory in Garland. Now, what does that mean? Well, it indicates the number of months it would take to sell all the homes on the market if no new listings were added. This figure gives us a snapshot of the market’s activity level. And guess what? Over the last 12 months, we’ve seen a positive increase of 1.54% in the months supply of inventory. So, the market is showing signs of growth and stability.

Now, let’s talk about one of the most crucial aspects of real estate: the list to sold price percentage. In Garland, we’re currently seeing a remarkable 99.5% list to sold price ratio. This means that, on average, sellers are getting very close to their asking price. It’s a testament to the strong demand for homes in our area and the expertise of our real estate professionals.

You’re probably wondering how long it takes to sell a home in Garland. Well, the median days on market is just 20 days. That’s right, folks, 20 days! This figure indicates the midpoint between when a home is listed and when it goes under contract. It’s a testament to the high demand and the efficiency of our local real estate market.

And now, let’s talk numbers. The median sold price in Garland is currently at $320,000. This figure represents the midpoint of all the sold homes in our area. It’s important to note that this number can vary depending on the neighborhood and specific property features. So, if you’re curious about your home’s value or the market value of a property you’re interested in, reach out to me or any of my colleagues at Ebby Halliday, REALTORS. We’re here to provide you with accurate and personalized information.

That wraps up our market update for August 2023. Remember, real estate is constantly evolving, and staying informed is key to making smart decisions. If you have any questions about the market, are considering buying or selling, or simply want to chat about real estate, I’m here for you. Reach out to me, Marie Walton, I’m committed to helping you navigate the exciting world of real estate in Garland, Texas.