Market Trends for Tarrant County Tax appraisal district Residential Property

overview of Market Trends for Residential Property

In 2023, Tarrant tax appraisal reported a 5.2% increase in taxable property value, reaching $221 billion for single-family homes. Multi-family properties saw modest growth, with values rising to $47.5 billion, reflecting continued market demand. The overall appraised property value in Tarrant County reached $388 billion, demonstrating sustained property appreciation. The median appraisal ratio remained consistent with market trends, reinforcing the accuracy of property valuations.

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Tarrant tax appraisal

Impact of Rising Interest Rates on Tarrant County Property

  • Residential Tax Protests Increased by 6.1%, as homeowners challenged rising property values.
  • Sales Transactions Increased by 10.3%, as demand remained steady despite financing cost adjustments.
  • New Residential Construction Dropped by 28.4%, indicating builders’ caution amid economic uncertainty.

Rising interest rates in 2024 significantly influenced homeownership costs, sales transactions, and new construction in Tarrant County:

Tarrant tax appraisal

Housing Inventory Trends in Tarrant County

  • Housing inventory rose to 3.2 months, up from 2.4 months in the previous year.
  • Active listings increased by 21% year-over-year, reaching 2,560 homes on the market.
  • The median home price settled at $304,499 in December 2024, reflecting a 3.2% decline compared to 2023.

In 2024, Tarrant County’s housing inventory experienced notable changes, reflecting shifts in the real estate market:
Tarrant County’s housing inventory showed significant changes in 2024:

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Tarrant tax appraisal