June 12, 2019

JUNE 2019 Cedar Park, TX Real Estate Market Conditions

By Cliff Hahn, Broker

For the last 30 days, according to the Austin Board of Realtors MLS Single Family Houses specific as of    6 /12/2019




                                                                                 MAY                JUNE


              


Number of homes for sale:                                          115                  130


Number of homes sold:                                               122                  137


Average days on the market for sold homes                  36                     22


Median price of homes for sale:                                  $388,310       $391,329


Average price of homes for sale:                                $443,470       $445,158


Median price of homes sold:                                       $329,450        $346,000 


Average price of homes sold:                                      $346,649       $369,086                             




Cedar Park saw more homes sold and under contract for less time over the last 30 days.  Pricing held steady in this healthy sector of the Austin/Central Texas housing market.


According to a recent report completed by Redfin, the annual price of newly built homes for sale has decreased for the first time in seven years.


Across the nation, a new home now costs a median of $363,000, down 1% in the first quarter, slightly above the median price for Cedar Park at $346,000.


The new home supply in Leander has grown by 4.2 % in the first quarter of 2019. However, the sales of these homes fell 3.1% year over year, marking the third consecutive quarter of declines.


Redfin made a prediction that the lessening in the need for new homes would end in a slight decrease in sales prices and sales of new homes as well as an increase in supply. In 2018, builders started to lower their price points and offered incentives to both real estate agents and potential buyers. This, in turn, cooled down the demand in the second quarter of 2018.


Source: Candy Mendoza

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