REAL ESTATE

TYLER MLS HOUSING ACTIVITY

Demand for housing in the Tyler area continues to rise as the population grows. Despite a continuing increase in the average home sale price, the cost of buying a home is still very affordable due to the low cost of living. The following data, tracked by the Greater Tyler Association of Realtors, shows the average home price and number of homes sold for the past 10 years.

PROPERTY VALUATIONS

Due to the increasing demand for homes, expanding development, and an overall national trend in rising properties values, the valuation of property within the Tyler MSA continues to rise. The Smith County Appraisal District publishes these values each year and the historical trend is shown in the following graph.

ANNUAL PERMITS & VALUATION

The Tyler economy has prospered for several consecutive years and has resulted in an increase in construction activity to build new homes, develop commercial areas, and expand its retail offerings. The City of Tyler maintains the number and value of permits each year. The last 10 years are summarized below.

HGTV DREAM HOME

HGTV selected The Reserve at Lake Tyler as the location of its 2005 Dream Home.  The resort-style home has approximately 6,000 square feet of heated and cooled area with another 5,500 square feet of porches, overhangs, and shaded areas with direct access to Lake Tyler.  The home also comes with a two-story, 1,200 square feet dockhouse.