Cedar Park homes sold for $373,896 on average, and Leander homes sold for $372,124 on average, according to the data released Aug. 19. These sales include single-family homes, condominiums and townhomes.
Across the region, the number of sales increased by 21.5% in July sales year over year. This is the second month of consecutive strong home sales in the Austin-Round Rock metropolitan statistical area, according to the ABoR.
Cedar Park residential sales rose 15.1% in July compared to July 2019 sales. There were 137 closed sales.
Leander saw a larger increase of 41.6% in year-over-year sales with 146 closed residential sales in July.
However, a falling housing inventory across the region can lead to increased home prices, 2020 ABoR President Romeo Manzanilla said in a release. Inventory fell by one month in July to 1.7 months of housing inventory. Statewide, inventory is at 2.8 months.
“Our market is now ultra-competitive because of our dangerously low inventory and that is cause for concern over the long-term," Manzanilla said.
