Tyler on track with state real estate trends

​​TYLER - Texas real estate trends are tracking with Tyler’s, with both showing a high demand, declining inventories and fewer days-on-market.

"Texas home sales and prices continued to rise in the third quarter 2015, while monthly housing inventory held steady," the Texas Association of Realtors (TAR) reported. 

Texas home sales rose 7.8 percent year-over-year to 91,704 home sales in 3Q 2015. Texas home prices saw similar gains, with median prices rising 7.7 percent year-over-year to $199,900 in 3Q 2015.

In Tyler, home sales rose a full 21.7 percent over the same period in 2014. Median prices rose 5.3 percent, to $171,679 for the quarter.

According to the report, monthly housing inventory in Texas was 4.0 months in 3Q 2015, compared to 3.9 months in the same quarter last year.

But that’s a reversal of Tyler’s trend, which saw monthly housing inventory decrease dramatically — from 8.0 months in 3Q 2014 to 4.5 months in 2015.

Deep in the report, though, is a nugget that helps explain the Tyler trend.

The number of active listings in Tyler is down 10.7 percent from 3Q 2014.

Builders can barely keep up with demand.