A new school year and a new house is on the books for a record number of North Texans this year, according to the latest sales figures from the MetroTex Association of REALTORS®. For the first time ever, sales volume of single family homes in the area crested past $2.6 billion shattering the record set in July by $500 million.
“There’s certainly a lot of energy in the area right now,” said Steve Habgood, president of MetroTex. “We’re seeing all areas of the market growing – from sales of single family homes and condos to leases and new construction. The market is booming as the population continues to surge.”
“MetroTex REALTORS® report both a high volume and increasing sales prices,” continued Habgood. “With a growing economy, lots of relocation traffic and low interest rates, it’s a great time to be in the market.”
Highlights of the MetroTex report include:
- 185 homes were sold in Garland in August, a 2% decrease over last year.
- The average sales price in Garland was $176,838, an 11% increase over last year.
- Average sales price is 99% of list price when listed with a REALTOR®
- Average Days on Market is 23, down from 37 last year.
- There is approximately 1.5 months inventory in Garland.
MetroTex represents more than 16,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in North Texas representing the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at www.DFWRealEstate.com.