Home sales decline in September

REAL ESTATE

Smith County home sales in September saw a decrease from the previous month, according to the Greater Tyler Association of Realtors.

Sales in September decreased 29.55 percent from August, and were down 10.58 percent from the sales that took place in September of 2017.

A total of 186 homes were sold in Smith County in September, down from the 264 sales in August and down from the 208 sales that took place in September of 2017.

BY THE NUMBERS

The median price for a home in Smith County increased in September to $207,500 from $193,500 in August.

The median price — which can be a more useful gauge because it’s the midpoint of all the homes sold and is not skewed by unusually high or low prices — increased by 7.24 percent.

There were 2,020 year-to-date closings by the end of September. By the end of September of 2017, 2,077 year-to-date closings had taken place.

The average number of days on the market in Smith County decreased from 58 in August to 56 in September. In September of 2017, the average number of days on market was 63.

The month’s inventory remained the same from August to September at 5.1. The month’s 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 the market.