Garland, TX Residential Sales Report for July

Single-Family:

Sales were off by 3% in July but it looks like some sales were just delayed because the pending sales number jumped by 49%. The average Sales price increased by 4% while the median  sales price was up by 7%. There was a healthy increase of 25% in the number of new listings but the active listings fell by 12% dropping the months of inventory to 1.5 months.

Sales: 202
Average Sales Price: $160,844
Median Sales Price: $147,000
Pending Sales: 234
New Listings: 267
Active Listings: 243
Months of Inventory: 1.5

Leases:

Leases were up by 14%. The average rent increases by 12% and the median rent was up by 8%. Pending leases were up sharply. The number of new listings fell by 16% and the active listings declined by 38%. The months of inventory took a huge drop of 40%  to 0.7 months. Really hard to find something to lease.

Leases: 80
Average Rent: $1,319
Median Rent: $1,300
Pending Leases: 58
New Listings: 81
Active Listings: 45
Months of Inventory: 0.7

Information provided by The Real Estate Center at Texas A&M.