Sales fell 7% in Garland in October as compared to the same time last year. Buyers are having a very difficult time finding something to purchase due to the extreme shortage of homes on the market. The average sales price rose 5% while the median sales price climbed 14%. Pending sales were up 2%. The number of new listing increased 5% but the active listings dropped 26%. The months of inventory declined to 0.9 months. With 6 months normally considered a balanced market, you can readily see how much this market is tilted to the Sellers side and why Buyers are having such a difficult time.
Sales: 149
Average Sales Price: $182,251
Median Sales Price: $172,000
Pending Sales: 182
New Listings: 189
Active Listings: 164
Months of Inventory: 0.9
Information provided by The Real Estate Center
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