Garland Property Sales For December 2016 Lower 15%

By
Real Estate Broker/Owner with DFW Team Realty
December 2016 Real Estate Market Summary for Garland, TX (MLS Area 24)
  Month Year to Date
  2016 2015 % Change 2016 2015 % Change
New Listings 136 134 -1.5 2538 2515 -0.9
Closed Sales (Reported) 213 181 -15.0 2149 2239 4.2
Closed Sales (Projected) 213 203 -4.5 2149 2261 5.2
Listings Under Contract 142 143 0.7 2186 2247 2.8
Average Sales Price $174,675 $188,295 7.8 $162,972 $180,811 10.9
Median Sales Price $152,000 $172,000 13.2 $147,500 $165,000 11.9
Percent of Original Price Received 96.6 98.4 1.9 98.7 99.5 0.8
Days on Market Until Sale 41 24 -41.2 32 25 -19.8
Inventory of Homes for Sale 238 159 -33.2      
Months Supply of Inventory 1.3 0.9 -35.9      

There were 181 home sales in December 2016, which was a slump of 15% from 2015. The number of residential property sales recorded year to date saw an increase of 4.2% in contrast to the same period 2015, with 2239 residential property sales recorded this year. There was a dip of 4.5% in projected housing sales this month. There were 203 projected housing sales total this month. The number of projected units sold year to date in Garland was up 5.2%, with 2261 projected units sold this year. In December 2016 new home listings was 134, a drop of 1.5%. There was a decrease of 0.9% in new listings year to date. There were 2515 new listings total this year. In Garland this month the number of contract listings experienced a climb of 0.7% from 2015, with 143 listed under a contract total. The number of listings under contract year to date showed a growth of 2.8% from 2015, with 2247 listed under a contract total this year. Approximate months supply of houses on the market in December 2016 saw a slump of 35.9%, with 0.9 months supply total. In Garland in December 2016 housing units for sale lost 33.2%, with 159 housing units for sale this month. The number of days on market until sale this month showed a slump of 41.2% relative to December last year, with 24 days total. This month percent of original list price received showed an increase of 1.9%, with 98.4 percent total. Percent of original list price received in Garland year to date reached 99.5, a rise of 0.8%.

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