Saturday, July 20, 2013

Tyler Housing Stats

Lorri Loggins, REALTOR®, Broker/Owner, Cornerstone Brokerage, LLC and President of the Greater Tyler Association of REALTORS®

"We are busy this year, that is for sure! Comparing 2011, 2012, 2013, just look at the graph - We have an upward trend in Total Sold properties year over year.

Total sold properties are UP 10.93% and UP 5.33% in median price, in comparing June 2012 vs 2013. Days on market has dropped from from 110 days to an average of 95 days. 

Of course, all areas in our MLS compare differently, but there seems to be a sense of urgency, when buyers find the "right" property. On top of finding the "right" property, interest rates are inching up. Buyer's are aware of the interest rates and making the move." I am asked often if it is a buyer's market or a seller's market? We still have a 10.8 month's supply of housing, a balanced market between buyers and seller's is a 6 month supply.   But, your REALTOR®, can most definitely, evaluate the area you are interested in and tell you if the month's supply is on the higher side indicating a buyer's market, and it if is on the lower side, indicating a seller's market. Once again, I tell buyer's.... if you  find that "aha moment" when searching for a home, you had better act quickly. SFT, see it, feel it, trust it.  

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