According to the Austin Board of Realtors, the median price for single family homes in the Austin area rose 9% in March 2012 compared to March 2011.
The increase in the median price indicates competition is increasing among buyers as the inventory of homes continues to shrink. Although an overall increase was seen throughout the Austin region, changes in value vary significantly from one MLS area to the next.
For example, area RRE (Round Rock East) saw an 8% decrease in March compared to the previous year, and area 8W (Westlake region) saw an even larger 31% decrease. Also, there are many other factors that contribute to the market value of each individual home besides the market changes in your home’s area.
Use the information here as a guide to determine whether your tax appraisal is a fair assessment.
No comments:
Post a Comment