Mid-year data shows continued home price increases in Cedar Park, Leander

home construction
Homes are under construction in the Homestead development in northern Leander. (Taylor Girtman/Community Impact Newspaper)

Homes are under construction in the Homestead development in northern Leander. (Taylor Girtman/Community Impact Newspaper)

Average home prices increased 41.6% in Leander and 48.3% in Cedar Park last month compared to June 2020 home prices, according to Austin Board of Realtors data. Rising home prices across Central Texas have led to frequent sales over asking price, rapid sprawl and affordability challenges.

June home sales in Leander decreased 7.2% from 2020, and the average price reached $525,343—a 41.6% year-over-year increase. There were 0.4 months of inventory and 52 active listings, according to the June data report from ABoR.

Leander homes, including single-family homes, townhomes and condos, spent an average of 11 days on the market, per the report.

In Cedar Park, 130 homes sold in June—a slight 4% increase from 2020. The average home price was $573,898, which is up from $563,335 in May and a 48.3% increase from 2020. There were 0.6 months of inventory and 59 active listings, according to the mid-year data report.

Cedar Park homes spent an average of 6 days on the market in June.

Across the Austin metropolitan area, home sales increased 16.5% in the first half of the year. The median home price reached $482,364—a record high and 43% increase from last year, according to ABoR’s June report. In May, the median price held a previous record of $465,000.

"Our market has established its own new normal, as median prices climb while inventory remains low," ABoR president Susan Horton said in the release. "With the unprecedented growth our region continues to experience, we can expect these trends to continue.”

The mid-year release said buyers have "shifted priorities" in homes since the pandemic.

“The pandemic has changed buyer preferences. Reliable broadband access, at least one home office and flexible working and living spaces are top priorities," said Jessica Lautz, vice president of demographics and behavioral insights at the National Association of Realtors. "Remote work, along with incredibly low interest rates, has allowed buyers to purchase homes in suburban areas that provide more square feet, outdoor space, and increased buying power than in urban core areas.”
By Taylor Girtman

Reporter, Cedar Park and Leander

Taylor Girtman became the reporter for the Cedar Park-Leander edition in February 2020. Taylor has a bachelor's degree in journalism from the University of Florida.


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