The Austin Board of REALTORS®’ latest market report shows the housing market calming compared to earlier in the year. Let’s look at how the real estate market in Cedar Park, Leander, and Austin.
Cedar Park
Home sales in Cedar Park have increased. The average home price increased by almost 47% compared to August 2020 home prices. This year in August, 126 homes were sold, which is a 21% increase from 2020. The average home price is $584,491. This is almost a $30,000 decrease from July 2021’s number, but a 17% increase from August 2020.
Leander
Meanwhile, home sales in Leander have decreased. The average home price increased by 47% compared to August 2020 home prices. In August, home sales declined by almost 30% from 2020. The average home price had a 47% year-over-year increase for a total of $539,258.
Austin
Since August 2020, home sales have decreased by almost 5%. The slowdown now could be due to the typical seasonality of the market combined with buyer exhaustion from an intense spring market. The market is slowing, but prices are still high. The median sales for residential homes are $470,000. That’s 35% more than August 2020, but $10,000 less than the month before.
ABOR President Susan Horton said, “While it wouldn’t be appropriate to say market conditions are normalizing—inventory is still at an all-time low and homes are still selling as soon as they hit the market—August’s housing activity is closer to what we would typically experience in the fall.”
If you’re interested in living in Austin, Cedar Park, or Leander, then contact us for more information! 512-619-3186 or cummingsteam@purerealty.com