Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Garland TX Market Breakdown

Garland TX Market Breakdown

Garland, TX for many years, was known by people in Richardson and who grew up in Richardson, as the Armpit of Richardson.  Over the years, Garland has made a name for itself, and things are changing.  Prices of homes are going up.  Newer, NICER communities are being built, mostly around Firewheel Golf Course.  And a new outdoor Mall opened last years, anchored by Foley's, Dillard's, an AMC theatre, and many other big-name stores.

With all this activity, you can see why Garland is becoming a more desireable place to call home.  As I did with Richardson and Plano, here are the stats year to date compared to 2006 for Garland.

2006
Original Asking Price: $128,606.68
Reduced Asking Price: $124,018.58
Sales Price: $121,548.08
List Vs Sales: 94.51%

2007
Original Asking Price: $135,379.36
Reduced Asking Price: $131,184.25
Sales Price: $128,042.47
List Vs Sales: 94.58%

With the above numbers, you can see that, on average, Garland is selling more than 5% higher than last year.  In many parts of the country, you would laugh at such little appreciation.  In this market, that is a HUGE number with so many other places selling flat or a little lower.

As I did with the other blogs, we need to look further into why the average has gone up, but unlike Richardson and Plano, the stats of Garland have remained fairly equal.  The average home is still a 3/2.  The average size is only 65 sqft larger than last year, and the average days on the market has actually increased a little, from 72 days up to 78 days.

With appreciation like 5% a year, we might actually get back to a stage where someone can live in their home as little as 3 years and actually break even with closing costs if they needed to sell again.

Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!! 

 ARE YOU PACKED YET?!

Comment balloon 2 commentsDonna Harris • June 27 2007 09:06AM

Comments

Garland, TX for many years, was known by people in Richardson and who grew up in Richardson, as the Armpit of Richardson.

 

Yep!! People in Garland would LOOK for a reason to say that they are 'from Dallas'

I'm in Plano.... just a few minutes from the Firewheel area.... which is looking good

 

Posted by Tom Burris, Texas/Louisiana Mortgage Pro - 13 YRS Experience (NMLS# 335055) almost 11 years ago
I laugh when the people who live off Jupiter in Garland say they're from Richardson just because they feed into the Richardson schools!  But again, things are looking up for the area.
Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) almost 11 years ago

Participate