Tyler Homes Sales Continue to be Strong

TYLER – Tyler’s home sales are outpacing state figures. Home sales in Texas increased 0.2% in the third quarter. In Tyler, home sales were up 1.4% to 811. Statewide, Texas home sales maintained the strong pace generated in the summer and continues to stay on pace with last year’s record breaking home sales. State home sales increased 0.2% year-over-year to 91,248 home sales. In Tyler, the median price of a home rose 2.8% percent to $175,000 in the third quarter. In the state, the median home price increased 7% from last year’s 3rd quarter to $214,000.

Greater Tyler Association of REALTORS President Claudia Carroll says there are several reasons for Tyler’s increase. The city has not been affected by setbacks in the oil and gas industry because Tyler has done such a great job in diversifying our economy.

Another reason is because the city offers a great value. In Houston or Dallas, you can buy a 1,500 square foot home for $300,000. In Tyler that $300,000 buys a 3,000 square foot home.

And Carroll says a third reason is we have so much commercial building taking place. She says, people want to be where the action is.

Carroll feels the trend will continue. She says they see no economic indicators that could set us back in the 4th quarter.