Williamson County Market Analysis

View our Market Analysis Map to get specific market information related to your property.
Begin by searching for your property and clicking the Market Data Map icon.

Austin Metro Area 2023
Housing Market Recap

The Central Texas housing market has experienced stabilization throughout 2023 after some decline in 2022 which was spurred by rising mortgage interest rates that Spring and Summer. At the end of 2023, Austin Board of Realtors Economist Clare Losey commented to KXAN that the market in Austin “has normalized to a certain extent”. Williamson County 2023 sales data also confirms the real estate volatility that took place throughout 2021 and 2022 was replaced by a less erratic pattern, resulting in the yearly calculated overall average home value within the county to change less than 2% from January 2023 to January 2024. Additional statistics also indicate the total residential sale transactions decreased in 2023 when compared to 2022. That data also confirms remarks from KVUE’s Ford Sanders in a recent report stating, “the Austin area is seeing a cooldown” and “there is stabilization in a market that was once so crazy.”  Current speculation persists on how these factors may change as 2024 progresses, however the 2024 value notices are based and modeled from 2023 sales and market trends to set values as of January 1st this year.
Sales data compiled by WCAD for the 2024 valuations and the resulting statistics and graphs reiterate real estate trends that took place in 2023 and were highlighted in media reports. For more information and data on that aspect of the valuation process please visit Changing Market Conditions – Appreciation and/or Depreciation.
Chart data from Texas A&M

WCAD's Analysis Mirrors that of Real Estate Professionals

While a realtor is hired to set or negotiate sale prices at any time throughout the year, with conditions of the market at that given time being the primary guidance, appraisers are required to establish the value for only one particular day in the year, and for appraisal districts, that focus is January 1st.   Although the days of the estimates of value are different for those professions, each relies on sales of other properties to establish those values.  Prior to the beginning of each yearly reappraisal, WCAD collects and analyzes available sales and market data for use in the January 1 valuations, and that sale data typically spans twelve months back from the appraisal date.  For more information on how WCAD analyzed available market data to determine market values read a more in-depth overview of the WCAD Analysis process.
*Note: WCAD does not value by zip code. WCAD's data has been aggregated by zip code for display purposes only.

The Most Significant Factors in Valuation

While there are many variables that will impact a property's appraised value from January to January, an important and initial step taken once the available sales have been collected is the analysis to establish any changing market trends leading up to the appraisal date.

Changing Market Conditions – Time Adjustment

Market conditions and time adjustment analysis is critical for any appraisal and is done to establish any rates of market appreciation or depreciation that took place during the time frame that spans the collected sales. Once the analysis is complete, sales can be trended by applying a market derived rate that makes each sale price relevant to market conditions on the January 1st appraisal date. Market conditions generally change over time.  The January 1st appraisal date is a specific point in time, so sales transacted before this date must be examined and adjusted to reflect any changes that may have occurred since then.  Without time adjustments, the sale prices of properties selected in sale comparison grids will reflect the market conditions as of the date when they were sold, rather than the January 1stvalue of similar real estate.
For a more detailed explanation of changing market conditions and appreciation, visit Changing Market Conditions – Appreciation & Depreciation

Analysis Using Comparable Sales

Using comparable sales to determine market value is often the most accurate method of appraisal for residential property as it reflects the actions of buyers and sellers in the market. Once comparable sales for a subject property are determined, adjustments are made for time and physical/functional differences between the properties to arrive at "adjusted sale prices," which are then used to arrive at an indicated value for the subject property.
For more information: Residential Valuation Approach 

Values are Set and Notices Mailed. What Can Property Owners Do?

Property appraisals change from year to year, and regardless of an increase or decrease in value, owners often ask for guidance.  The following are common tips:

Take Advantage of Exemptions

While there are many exemptions available to property owners, one of the most effective at reducing a property owner’s tax liability is the Residential Homestead Exemption. The homestead exemption offers a reduced value to which tax rates are applied, but the greatest advantage of the homestead exemption is that regardless of the percent change in the MARKET value from year to year, it limits the amount the ASSESSED value can increase to 10% from one year to the next if the owner had the exemption on January 1 of the prior year. 
For more information on the benefits of the homestead cap, visit https://www.wcad.org/hs-cap/.
For information on how to qualify and/or apply for the homestead exemption, visit https://www.wcad.org/online-exemption-information/.

Review Your Market & Assessed Value

The appraisal district is required to set the Market Value of property within the county each year, and the percent change from year to year is not limited.  However, the Tax Code requires that the Assessed Value is capped at a 10% increase from one year to the next for properties that received a Homestead Exemption on January 1st of the prior year.  If your opinion of market value is higher than the capped assessed value, there is no need to protest. Also, a lowered Market Value for any year does not influence the Market Value for next year.
Upon reading the Sales Comparable Grid that may have been provided with the notice, determine if your market value is higher than what you could have sold it for on January 1st. If not, there is no need to protest. If so, try speaking with a realtor about receiving accurate sales; not just the lowest, but all comparable sales. If these sales are not similar to the subject property in quality, size, age, attributes, neighborhood, and market level transaction, then WCAD Appraisers may not use these sales if others that are more similar are available.
For information on how to protest, review our guide to online protesting at https://www.wcad.org/online-protest-filing/

Participate In Taxing Unit Budget Hearings

In 2019 the State Legislature set a revenue cap on taxing units - 2.5% for schools and 3.5% for other taxing units. This means that as property values increase, taxing units will need to decrease their tax rates or run the risk of triggering an election to adopt a tax rate.
For more information on your taxing units and how you can be involved in setting tax rates, visit https://williamsonpropertytaxes.org. Certified values, proposed tax rates and tax rate hearing dates will be available starting in mid-August
View our Market Analysis Map to get specific market information related to your property.
Begin by searching for your property and clicking the Market Data Map icon.
Continue to filing your protest at https://www.wcad.org/online-protest-filing/