How Much Equity Do Southlake and Colleyville Homeowners Have? How to Calculate Yours
Featured image is set in WordPress.
By Robin Milton, REALTOR®, ABR, SRES | Berkshire Hathaway HomeServices PenFed Realty
The Short Answer
Your equity is what your home would actually sell for today, minus what you owe and what it costs to sell. It is not the number on your Tarrant Appraisal District notice. Over the last 12 months, the median sold price rose about 2% in Southlake, to $1,375,000, and about 3% in Colleyville, to $1,040,000, but your home’s condition and pricing decide where it lands.
How do you calculate your home equity?
Home equity is the difference between what your home would sell for today and what you still owe on it. To see the money you’d actually walk away with, subtract your selling costs too, such as commissions, title fees, and any repairs you make before listing.
The formula is simple. The hard part is the first number. Most homeowners start with the value printed on their tax notice, and that’s where the math can go wrong.
Is your Tarrant Appraisal District value the same as market value?
No. The appraisal district values every property in the county for tax purposes, using sales and property records across whole areas. It typically doesn’t walk through your home, so it never sees the updated kitchen, the aging roof, or the windows that have lost their seals. A buyer’s appraiser does.
I saw this play out with a seller who was sure their home would bring more than $1.5 million. That was the value on their tax notice, and a smaller home down the street had sold for $1.6 million the year before. When we walked through the house together, we talked about deteriorating wood trim, window seals that had failed, and an aging roof. They chose to replace the roof, and we went on the market.
The home sat for more than 45 days before an offer came in. We negotiated a price they could accept, but the appraisal came in below it, and the buyers’ lender would only lend based on the appraised value. After another round of negotiating, the home closed at $1.3 million. The house wasn’t the problem. The appraiser weighed its condition, and the tax notice never had.
What does the Southlake and Colleyville data say right now?
Prices in both cities are a little higher than a year ago, and homes are selling faster. Here’s how single-family sales compare, based on NTREIS data from October 2024 through early October 2026:
| Single-family homes | Southlake, prior 12 months | Southlake, last 12 months | Colleyville, prior 12 months | Colleyville, last 12 months |
|---|---|---|---|---|
| Homes sold | 369 | 395 | 344 | 308 |
| Median sold price | $1,345,000 | $1,375,000 | $1,013,000 | $1,040,000 |
| Median price per sq ft | $346 | $364 | $276 | $279 |
| Median days on market | 25 | 16 | 22 | 16 |
| Median sale-to-list price | 97.4% | 98.0% | 98.4% | 98.2% |
Timing matters as much as price. Across both cities over the last 12 months, homes that went under contract within two weeks sold at a median of 100% of their list price. Homes that sat more than 45 days, about 29% of all sales, sold at a median of about 96%. On a $1.3 million home, that gap is roughly $48,000.
How do you find your home’s real number?
The most reliable starting point is a Comparative Market Analysis, or CMA. It compares your home with recent sales nearby and adjusts for condition, updates, size, lot, and amenities. That’s much closer to how an appraiser will look at your home than any tax notice.
Knowing your real equity matters most when you’re planning what comes next. If you’re thinking about moving up, downsizing, or settling a family home, that number shapes every other decision, from timing to which repairs are worth making.
If you’re curious what your Southlake or Colleyville home would sell for today, I’d be glad to put together a free equity snapshot based on a CMA, not a tax notice. Call or text me at 817-994-2654, or explore homes and neighborhoods in Southlake.
FAQs
Q: What costs come out of your equity when you sell?
A: The biggest are usually your mortgage payoff, real estate commissions, title and closing fees, and any repairs or concessions you agree to. Property taxes are also prorated at closing. A seller net sheet lines these up so you can see your number before you list.
Q: Can you use your equity for a down payment before you sell?
A: Sometimes. A bridge loan or home equity line of credit may let you tap your equity before your current home closes, depending on your finances and the lender’s terms. You can explore Colleyville homes and neighborhoods while you talk with a lender about your options.
Q: Does a higher tax value mean your home will sell for more?
A: Not necessarily. Tax values can run higher or lower than what a home actually sells for, because they often don’t reflect its condition inside. If you think your value is too high, you can protest it with the Tarrant Appraisal District.
Q: Which repairs are worth making before you sell?
A: Start with what an appraiser or inspector will flag: roofs, failing window seals, wood rot, and anything that affects safety or function. Cosmetic projects pay off less consistently. You can see what’s selling in Southlake right now.
Q: How often should you check your home’s equity?
A: Once a year is a good habit, and anytime you’re considering a move, a refinance, or a major renovation. Local prices can shift from one season to the next.
Check out this article next
