Winter storm impacts Leander-Cedar Park home sales while prices continue to rise

The winter storm impacted Leander-Cedar Park home sales while prices continue to rise. (Courtesy Adobe Stock)
The winter storm impacted Leander-Cedar Park home sales while prices continue to rise. (Courtesy Adobe Stock)

The winter storm impacted Leander-Cedar Park home sales while prices continue to rise. (Courtesy Adobe Stock)

Central Texas saw a decline in monthly residential sales due to the Texas winter storm, causing home sales to dip for the first time since June, according to Austin Board of Realtors data.

However, despite the storm, market demand drove housing inventory down 1.2 months to a record-low 0.4 months of inventory and the median home price up 22.5% to an all-time high of $395,000 in the Austin-Round Rock metropolitan statistical area, data shows.

“Although the winter storms slowed activity in February, this does not indicate a market slowdown. We’re still very much in a sellers’ market,” ABoR President Susan Horton said in a news release. “Across the region, a high quantity of offers, cash offers, and requests to waive appraisals or option fees are increasingly commonplace.”

In Williamson County, residential sales decreased 25% to 668 sales, and sales dollar volume decreased 8.9% to $263.3 million. The median price increased 25.9% to $364,950. During the same period, new listings fell 22.1%, and active listings tumbled 83.9%, the report said. The housing inventory also declined 1.3 months year over year to 0.3 months of inventory, it said.

The Leander-Cedar Park area also saw a 25.4% decrease in residential sales year over year, but median prices in the area rose 39.7% to $447,750. Leander-Cedar Park was also reported to have 0.3 months of housing inventory, the report said.


Across the five-county MSA, home sales dollar volume jumped 15.9% to $1.2 million, while pending sales fell 15.5% to 2,573 year over year. At the same time, new listings decreased 24.8%, and active listings dropped 74.1%. Homes spent an average of 31 days on market, 32 fewer days than in February 2020, it said.

Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors, said while the Austin market has been acutely affected by the lack of inventory, there is also a nationwide inventory shortage.

“Until we have more supply, the lack of inventory and prices rising nationwide are going to present challenges for homebuyers everywhere,” Yun said in the release. “Although it's not visible, mortgage rates will continue to rise throughout the year."




By Ali Linan
Ali Linan began covering Georgetown for Community Impact Newspaper in 2018. Her reporting focuses on education and Williamson County. Ali hails from El Paso and graduated from Syracuse University in 2017.


MOST RECENT

Here is what you need to know today about COVID-19 in Williamson County. (Community Impact staff)
Nearly 60% of Williamson County residents have received one dose, plus more COVID-19 news

Here is what you need to know today about COVID-19 in Williamson County.

shaved ice trailer
Hawaiian shaved ice trailer opening in Cedar Park

LocoSnoCo will open June 26 in Cedar Park.

Heather Sánchez
Leander ISD hires new area superintendent

Heather Sánchez will be a new area superintendent at Leander ISD.

Wag-A-Bag is headquartered in Round Rock. (Megan Cardona/Community Impact Newspaper)
Wag-A-Bag to operate under new ownership, name; Austin, TxDOT at odds over I-35 overhaul; and more top Central Texas news

Read the most popular business and community news from the past week from the Austin area.

bagdad road leander
New Leander transportation plan outlines $320 million in road projects over 10 years

The plan lays out a few projects for the city to consider each year.

Road closure stock image
TxDOT to demolish I-35 ramp in North Austin early Saturday morning

State crews will perform controlled implosions of the northbound I-35 to northbound US 183 flyover between 6-8 a.m. in the morning on May 8 and May 15.

Leander ISD admin building
Leander ISD board approves 2% raise for district staff in 2021-22 school year

If financial parameters are met, the increase could be raised to 3% or additional one-time stipends could be approved in the future.

ashely homestore
Ashley HomeStore opens in Cedar Park plus 3 more new local businesses

The mattress and furniture store is located on East Whitestone Boulevard.

city hall
Leander requests facilities plan for growing city staff, building needs

City hall, the police department building, the parks and recreation building and the public works facility are either at capacity or undersized for staff volumes, according to the city.

Here are the most recent coronavirus updates from Williamson County. (Community Impact staff)
Here is what you need to know about COVID-19 in Williamson County

Here are the most recent coronavirus updates from Williamson County.

Residential appraisal valuations have been sent to Travis County property owners. (Iain Oldman/Community Impact Newspaper)
Travis Central Appraisal Districts says hot housing market is reflected in 2021 appraisals

Property owners have until May 17 to file a protest of their home's appraisal.