The Tyler area saw the third consecutive
month in home sales gains in August, resulting in an increase in sales
for the year compared to the same time last year, officials announced
Last month, 295 houses
sold, a 23.95 percent increase compared to 238 in August 2010, according
to figures released from the Greater Tyler Association of Realtors.
The August sales were a 6.1 percent increase from the 278 homes sold in July.
“Well, I said last month if we were up in sales
again for a third straight month, I would call it a trend,” said
Jonathan Wolf, RE/MAX Realtor and president of Greater Tyler Association
of Realtors. “So I'll stick to my word; we have a trend with great
numbers in August 2011 versus August 2010.”
He said the month of
strong sales helped the area report for the first time an increase of
total sales for the year compared to last year.
The average home price in August slightly increased from a year ago.
average home price for the Tyler area was $167,296 in August, an $80,
or 0.048 percent increase, from August 2010, when the average price was
Last month's average price also was a $2,403, or 1.46 percent, increase from July's $164,893.
remain stable as a whole, but sellers need to still pay close attention
when an offer comes in,” Wolf said. “This confirms to me the government
tax credit was a bad idea. Real estate is local and needs to work its
own self out instead of government stimulus and incentives. That will
bring qualified buyers to the table.”
He said the active listings count fell but the number still needs to come down more.
Tyler area’s home inventory stood at 14.5 months in July, the latest
month for which figures from the Real Estate Center at Texas A&M
University were available. That is down from 14.6 months for June and
14.9 months in May.
July’s inventory has increased from the same time last year, when it was 13.3 months.
inventory is how long — based on the past year’s sales rate — it would
take to clear out existing inventory, with no more homes introduced into
Smith County had 38 new foreclosures in July, according to RealtyTrac.
continue to have many issues ahead of us as property owners,” Wolf
said. “Hopefully the private sector will help us all in every sector.”
Home sales and prices in Texas rose from the same time last year.
home sales in July, the latest figures available, were 19,628, an
increase of 2,946, or 17.66 percent, from a year ago, when 16,682 houses
sold, according to the Real Estate Center.
The latest figures were an 8.35 percent decrease from the 21,416 homes sold in June.
median price of a home in Texas in July was $153,200, down 0.777
percent from July 2010, when the price was $154,400. Last month’s median
price in the state also was $154,400.
The state’s overall inventory was 7.9 months in July, the same as a year ago and up from 7.6 months in June.