Garland Texas Home Values were DOWN 1% in October

Garland Texas Home Values were DOWN 1% in October over the same month last year with 109 homes selling this month compared to 110 sold this month last year! For the 2011, year to date, overall home sales were DOWN 8 % with 1,395 homes sold compared to 1,512 homes sold last year.

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New listings were DOWN 26% for the same period last year with 174 homes listed as compared to 234 listed this month last year. For the year 2011, overall home listings were DOWN 19% with 2,404 homes listed as compared to 2.980 homes listed last year. Listings under contract were UP 35% with 139 homes listed compared to 103 homes listed this month last year. Listings under contract for all 2011 were DOWN 1% with 1,507 homes listed as compared to 1,529 listed for all last year.

The average sales price of homes was DOWN 10% to $102,618 as compared to $114,257 for this month last year. The overall year of 2011 average sales prices were DOWN 8% to $106,812 as compared to $116,344 last year. Sellers received 92.2% of their asking price this month as compared to 89.3% this month last year. The average days on the market until sold in was 87 days compared to 98 days for this month last year DOWN 11%.

The current supply of homes on the market was 650 homes DOWN 40% as compared to 1,087 homes from the same period last year. This is 4.6 month supply of homes on the market DOWN 38% as compared to 7.4 month supply from this month last year.

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