The Austin Board of REALTORS® released their May stats, and the market isn’t slowing down!
Home Prices
Average home prices jumped 42.6% in Leander and 56.2% in Cedar Park compared to May 2020 home prices. Home prices and appraised home value have been increasing for months now, so it’s not a total surprise.
In Cedar Park, the average home price increased 56.2% from 2020 and was even more significant than April’s average home price of $541,114, making May’s average home price $563,335.
Home Sales
In Leander, home sales increased almost 15% from 2020. The average price reached $511,233. That’s a 42.6% increase year over year. We’re still in a seller’s market as there are only 0.3 months of inventory and 36 active listings.
Cedar Park has the same experience as having 0.4 months of inventory and only 37 active listings in May. Cedar Park differs, though, because 177 homes sold in May. That’s a 77% increase compared to May 2020.
Austin’s metropolitan area compares at a median home price of $465,000, a 48% increase compared to last year.
If you’re ready to discuss home prices in Leander and Cedar Park, contact us today! Contact Cummings Team® by clicking here or call or email: 512-619-3186 | cummingsteam@purerealty.com.