Is Tyler, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tyler is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Tyler has remained a Seller's Market.

Key Takeaway

Tyler is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Tyler, VA

How much do homes in Tyler, VA cost?

Median Sold Price

$239,000

$151/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$10,100(-4.1%)

Key Takeaway

Homes in Tyler have sold for 4.1% less than they did a year ago.

Summary: The median home sold price in Tyler was $239,000 in May 2024, down 4.1% from last year, and the median price per square foot was $151.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$90K
N/A
2 $140K$124.2K
-11.3%
3 $252.5K$227.4K
-9.9%
4 $262K$467.5K
+78.4%
5+ $686.5K$858.1K
+25.0%

Summary: Tyler housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.3%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes increased by 78.4%, and 5+ bedroom homes increased by 25%.

Median Sold Price Compared To Nearby Cities

Wilson
+26.0%
Bristol
+11.6%
Bristol
+11.6%
Tyler
-4.1%

Housing Supply in Tyler, VA

How many homes are available in Tyler, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2220-9.1%

Summary: The Tyler real estate market had 20 homes for sale in May 2024, a 9.1% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 76
-14.3%
3 1210
-16.7%
4 33
0.0%
5+ 01
+100.0%

Summary: The Tyler housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
84-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tyler, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Tyler in May 2024, down by 50.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for Tyler, VA

How long does it take to sell a home in Tyler, VA?

Average Sale Time

May 2023May 2024CHANGE
34 Days41 Days+21.6%

Summary: Homes in Tyler had an average of 41 days on market in May 2024, up by 21.6% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Tyler are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 4 homes were sold in Tyler; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Tyler, VA

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