Market Trends for NCAD Residential Property

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Market Trends for NCAD Residential Property

New home construction and property developments are shaping the residential market in Nueces County. The appraisal district closely monitors these trends to ensure fair valuations and accurate tax assessments.

New Residential Market Value Growth

  • The New Value Market surged from $606 million in 2021 to $1.24 billion in 2023, reflecting increased residential development.
  • The New Taxable Value of properties also grew from $454 million in 2021 to $962 million in 2023, showcasing a strong market.
  • Property value increases indicate rising demand for new housing and commercial development in key areas.

The overall market value for new residential properties has been steadily increasing.

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Impact of New Construction on Residential Growth

  • The county saw an increase in residential and commercial developments, adding value to the overall property market.
  • New residential properties contribute significantly to overall appraisal value growth, ensuring the tax base remains strong.
  • The demand for housing is expected to continue growing, pushing further new developments across the county.

New construction has played a major role in expanding the housing inventory in Nueces County.