The residential real estate trends for Garland, Rockwall and Rowlett has continued the growth in sales that was seen last year in the Dallas-Fort Worth area. The listing inventory for both Rockwall and Rowlett has remained steady for the first two months of the year. Listing inventory for Garland, however, has declined initially this year, which indicates a tighter supply. This indicates that the market is likely more favorable toward sellers than buyers. The national trends still point to a continuing slight growth in home sales as well.
Mortgage rates continue to stay near historic lows for the time being, but according to Freddie Mac, indications are pointing to a rate increase from the Federal Reserve this year. However, we should see home sales throughout the Garland, Rockwall and Rowlett areas continue to be steady as we head into the second quarter of 2015.
Nationwide the median sales price for an existing home was $202,600 while in the Dallas Metroplex the median price was $188,300, which is an overall rise of about 9% over the last year.
If you are in the market to purchase a new home, today’s market in the Garland, Rowlett, and Rockwall areas offers many opportunities for potential buyers. Please give me a call at 214-642-1375 or click here.