Terrell, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Terrell, TX Real Estate Data


Terrell Housing Market Information

With 16,981 people, 5,446 houses or apartments, and a median cost of homes of $115,674, house prices in Terrell are solidly below the national average.

Single-family detached homes are the single most common housing type in Terrell, accounting for 70.65% of the city's housing units. Other types of housing that are prevalent in Terrell include large apartment complexes or high rise apartments ( 15.07%), duplexes, homes converted to apartments or other small apartment buildings ( 8.89%), and a few mobile homes or trailers ( 3.62%).

The most prevalent building size and type in Terrell are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.02% owning and 49.98% renting.

There is a lot of housing in Terrell built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Terrell built between 1940-1969 ( 27.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.22%). There's also some housing in Terrell built before 1939 ( 10.17%).

Vacant housing appears to be an issue in Terrell. Fully 10.71% of the housing stock is classified as vacant. Left unchecked, vacant Terrell homes and apartments can be a drag on the real estate market, holding Terrell real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Terrell Home Appreciation Rates

In the last 10 years, Terrell has experienced some of the highest home appreciation rates of any community in the nation. Terrell real estate appreciated 20.73% over the last ten years, which is an average annual home appreciation rate of 1.90%, putting Terrell in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Terrell definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Terrell that despite a nationwide downturn in the housing market, Terrell real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Terrell appreciation rates continue to be some of the highest in America, at 7.49%, which is higher than appreciation rates in 88.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Terrell. Terrell appreciation rates in the latest quarter were at 3.93%, which equates to an annual appreciation rate of 16.66%.

Importantly, this makes Terrell one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Texas, our data show that Terrell's latest annual appreciation rate is higher than 60% of the other cities and towns in Texas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Terrell differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Terrell - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Terrell real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$115,674

Terrell, TX HOME PRICES

Value Range
> $1,264,000 0.0
$948,001 - $1,264,000 0.0
$632,001 - $948,000 0.3
$506,001 - $632,000 3.1
$380,001 - $506,000 1.2
$253,001 - $380,000 2.0
$127,001 - $253,000 33.9
$63,001 - $127,000 46.9
$0 - $63,000 12.6

Average for TX
Low for Nation

Value Relative to Nation Value Relative to State
68.8411313462552 51.9417475728155

Number Of Homes And Apartments:
5,446

Rent & Ownership

 

Average Market Rent:
$969 / per month

Homeownership Rate

Homeownership
Owners 50.02
Renters 49.98
Vacant 10.71

Housing Market Details

 

Age of Homes

AGE OF Terrell HOMES
2000 or Newer 21.2
1970 - 1999 41.5
1940 - 1969 27.1
1939 or Older 10.2

Types of Homes

TYPE OF Terrell HOMES
Single-Family 70.7
Townhomes 1.5
Small Apt. Buildings 8.9
Apt. Complexes 15.1
Mobile Homes 3.6
Other 0.2

Home Size

SIZE OF Terrell HOMES
No Bedroom 0.46
1 Bedroom 9.23
2 Bedrooms 26.91
3 Bedrooms 50.91
4 Bedrooms 11.13
5 or more bedrooms 1.36

Terrell Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
33.00% 1.69% 1 4
* 10 is highest