We wanted to get a quick note out this month before the holiday arrives and summer plans ramp-up.
We’ve heard from many property owners this spring that were shocked to see their property tax appraisals jump this year. To no surprise, rumor has it the Appraisal boards for Travis, Williamson and Hays are tightening up their review process to make values more in line with market values. It’s a sign you’re gaining equity on your investment and a good reminder to have a homestead exemption on the property you occupy. For those lucky few that saw their values hold steady or fall a few percent – I can only recommend you buy some lottery tickets!
May’s Median Home Values = $400,000
The key word here is “median” and not necessarily a fair representation of our tri-county area. In May, Austin’s top real estate headline came from the Austin Business Journal that the median Austin-area home price is nearing $400,000. This is great news if you own a home in Austin and could be a good time to sell and downsize or move further out to gain more square footage. Of course, the downside to this rise in median price is property taxes continue to increase and both rising home prices and taxes contribute to Austin’s affordability issues. Curious what $400,000 will get you in Travis county? Check out these results, we have saved a few of our favorites. Set up your own search and adjust the filters to see what homes are available by zip code or school zones.
Hope y’all stay cool and take advantage of everything the Austin area has to offer in the summer. We’re around if you want to discuss real estate or the market more specifically.