WILLIAMSON COUNTY - A hot seller's market and local development struggling to keep pace has led to a 9.5 percent increase in Williamson County home values.
The average market value of a home within the county increased this year to $253,819 from $241,860 last year, according to preliminary figures from the Williamson Central Appraisal District.
The increase is similar to home values in neighboring Travis County, which rose on average by 9 percent this year.
The increase in Williamson home values this year is lower than the 12.7 percent increase in 2015.
"Supply has met the demand more this year than it has the past couple years," Williamson Chief Appraiser Alvin Lankford said, "but it's still a seller's market since the demand has yet to meet the supply."
In 2015, 5,700 new homes were built in Williamson County, compared to about 4,200 homes built in 2014.
However, construction has yet to slow down increases to home values within the seventh-fastest growing county in the nation.
Lankford said it is difficult to know when the market will change. "But what we've seen, we don't see this slowing down any time soon," he said.
Mark Sprague, a housing market analyst with Independence Title in Austin, said the Central Texas area has seen a seven-year run of climbing home values, and it will not stop for years to come.
"I don't see what will slow us down, except for a catastrophic event, for another five years," he said.
For all Williamson County properties—commercial and residential combined—the total market value went up 12.57 percent, to $65.8 billion from $58.45 billion. About 260 new commercial buildings were built last year.
* Williamson County portion only