Based on the Austin Board of REALTORS® October stats, the housing market is slowing down, but home prices aren’t. In Cedar Park and Leander, home prices increased 38% this October compared to October 2020 home prices.
Cedar Park
In Cedar Park, 84 homes were sold in October. It’s a 22% decrease from the year prior. The average home price was $530,586. It’s a 38% increase from October 2020 and an almost $13,000 price increase from September this year. There are four months of inventory and 56 active listings. Homes spent an average of 18 days on the market.
Leander
In Leander, home sales decreased by 31% from 2020, with 105 closed sales. Of the 105 closed, 89 were existing homes, and 17 were new construction sales. The average price was $526,248. It’s a 38% year-over-year increase but an almost $13,000 decrease from August 2021 home price. There were 0.6 months of inventory and 69 active listings. Homes spent 20 days on the market.
Williamson County
In Williamson County, home sales decreased 4.4% to 1,170 sales. The average sales price fell $5,000 from the month before at $430,000. New listings, active listings, and pending sales all decreased compared to the month prior in September but increased compared to October 2020.
ABoR President Susan Horton said this should be what buyers and sellers can expect in the future. “More new listings are hitting the market, a trend that we have seen continuously for the past eight months, and when coupled with fewer closings across the [metropolitan statistical area], prospective buyers have more options,” Horton said.
Read how we expect the market to perform in our blog post from last month, “The New Normal for The Cedar Park and Leander Housing Market,” here. If you’re interested in living in Williamson County, Cedar Park, or Leander, contact us for more information! 512-619-3186 or cummingsteam@purerealty.com