Home values up 40% over last year

The average home value in Wimberley increased more than $135,000 over the last year to $477,388 for a nearly 40% increase year over year.

The Hays Central Appraisal District released this year’s numbers to over 110,000 property owners across the county. Thanks to high demand and limited real estate inventory, the overall market value of Hays County’s 2022 preliminary appraisal roll rose to $58.86 billion, up 53.27% from $38.41 billion in 2021. Commercial and industrial real property values increased by 40.86% to $5.05 billion, and residential multi-family property grew by 47.20% to $3.66 billion.

“A record number of property transfers occurred during the last year and the values on those transactions were extraordinary,” the appraisal district said. “The pandemic triggered many changes in our world, one being remote work, giving more people the opportunity to live farther from their workplace. Hays County has a rural appeal and is a popular destination with easy access to metropolitan areas. High de mand with limited real estate inventory in our area has contributed to a staggering increase in residential real estate prices, more than 40% in some areas. Traditionally, vacant land shows the largest increase in value and this year is no different. Average land values rose upwards of 80% while vacant lots rose more than 95%.”

The average value of homes in Wimberley ISD is the second highest total in Hays County following Dripping Springs. Homes within Dripping Springs ISD increased from $509,497 last year to $749,287, a 47% increase from last year.

Property owners have a month to appeal actions concerning their property appraisals before the deadline on May 18. An appeal can be filed online at hayscad.com, by email to [email protected] or by mail to 21001 N. IH 35, Kyle, Texas 78640. There is also a drop box at the district office.