By Joe Reavis

[email protected]

Property appraisal estimates released this week by Collin Central Appraisal District show double digit growth in the city of Wylie and in Wylie Independent School District fueled in large part by new construction over the past year.

Estimated property value in Wylie is $3.39 billion, an increase of 11.78 percent from the 2015 certified value. The rise equates to $357 million, of which $134.5 million is assigned to new construction.

Taking out new construction, the value of existing properties increased 7.47 percent, the CCAD reported. Property values were $3.03 billion last year and the value on those same properties rose by $227 million.

For the first time in history, the average price of a home in Wylie topped $200,000, coming in at $202,000.

Property values in WISD, which covers a larger area than the city, increased 12.12 percent to an estimated $4.8 billion and includes $213 million of new construction.

In 2015, values were certified at $4.3 billion. Values on existing property rose 7.52 percent over the past year, to $4.62 billion.

Average price of a residence in WISD is $226,000 this year.

See the May 11 edition of The Wylie News for more on this story.