Residential Market Trends and Ellis Appraisal Insights

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Impact of Rising Interest Rates

  • Mortgage rates have climbed from historical lows to around 7 percent, impacting buyer affordability.
  • In May 2025, the home prices rose about 4 percent year‑over‑year, with a median sale price near $418,000
  • Higher rates have slowed demand, increasing median days on market from 52 to 64 days

These shifts influence appraisals by Ellis County Appraisal District, as market activity softens and affects Ellis Appraisal valuations.

Housing Inventory Trends

  • Housing inventory increased from 2.4 months in January 2023 to approximately 3.2 months by December 2023, according to North Texas housing data.
  • This is a notable shift from January 2022, when inventory levels hovered closer to 1.5 months, based on regional sales reports.
  • The expanded inventory has contributed to a more balanced market, keeping both median and average home prices relatively steady year-over-year.

These changes in housing availability directly impact pricing trends and are reflected in current property evaluations tracked by Ellis County CAD.

Single-Family Home Market Overview

  • Single-family home construction declined from approximately 2,500 to 1,200 homes between 2007 and 2011, according to county appraisal data.
  • Post-2011, construction has increased, though it remains below pre-recession levels, indicating a gradual recovery.
  • Since 2020, new housing developments have accelerated, with property values for newly built homes rising at an even faster rate, as reflected in Ellis County Central Appraisal District records.

Property records show notable changes in single-family home building and valuation trends in recent years.

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