Property values are soaring across central Texas with experts saying a hot real estate market is good news for the local economy. Camille Johnson, a Texas realtor, has seen first-hand how well the real estate market has done in the past year.
“It is amazing. We can list something and we will have five offers immediately. So, our sellers are getting great prices,” Johnson told KWTX-TV 10 News.
McLennan County Appraisal District Chief Appraiser Andrew Hahn said some homes have seen increases in valuations upwards of 25 percent.
“It’s just part of what’s happens, there are ups and downs in the real estate market and right now we are in a strong market,” Hahn said. “That strong market causes real estate values to increase.”
In McLennan County the average increase in home value was 6.5 percent which means the average home is worth $10,000 more in 2016 as compared to 2015.