A closer look
The real estate market for the Bastrop-Cedar Creek area experienced 72 home sales in December 2024, according to data from the Austin Board of Realtors.
In the 78602 ZIP code, representing the Bastrop area, 53 homes sold, while 19 sold in the 78612 ZIP code, representing the Cedar Creek area, in December.
The median home sales price in the 78602 ZIP code of Bastrop was $399,999 in December 2024, a nearly 4% increase year over year. In the 78612 ZIP code of Cedar Creek, median home prices decreased by over 25% year over year to $425,000.
The median home price over the last six months is $377,000 in the 78602 ZIP code of Bastrop, and $425,000 in the 78612 ZIP code of Cedar Creek, according to the data.
On average, homes stayed on the market in the Bastrop ZIP code of 78602 for between 102 and 427 days. In the 78612 ZIP code of Cedar Creek, homes averaged on the market between 44 and 617 days.
Zooming out
Clare Knapp, housing economist for Unlock MLS and the Austin Board of Realtors, predicts 2025 real estate trends throughout the Austin metro area will mirror 2024’s conditions, according to a news release.
“Mortgage rates will likely hover between 6 and 7%, as the Federal Reserve adopts a cautious approach to potential rate cuts,” Knapp said. “This consistency will allow both buyers and sellers to benefit from a predictable lending environment. However, external factors, such as economic shifts or policy changes, could influence these trends, underscoring the importance of staying informed and adaptable to navigate the market successfully.”
Knapp added that while 2024 was a better year for first-time homebuyers due to the increase in supply, there is still much work to be done to tackle the region’s affordability issues.
In Bastrop County, the following real estate trends were observed in 2024, according to the Austin Board of Realtors:
- 1,310—residential homes sold, 7.2% more than 2023
- $360,000—median price for residential homes, 2.7% less than 2023
- 2,170—new home listings on the market, 18.8% more than 2023
- 7,259—active home listings on the market, 19.1% more than 2023
- 1,323—pending sales, 7.9% more than 2023
- $532.81 million—total dollar volume of homes sold, 5.5% more than 2023
- 108—residential homes sold, 8.8% more than December 2023
- $380,000—median price for residential homes, 1.3% more than December 2023
- 120—new home listings on the market, 34.8% more than December 2023
- 565—active home listings on the market, 13.7% more than December 2023
- 95—pending sales, flat compared to December 2023
- 5.3—months of inventory, 1.1 months more than December 2023
- $46.79 million—total dollar volume of homes sold, 17.4% more than December 2023
- 92.9%—average close to list price, compared to 91.1% in December 2023
