However, the number of home sales declined in both cities last month compared to 2020 sales.
In Cedar Park, 133 homes sold in July—a slight 0.8% decrease from 2020. The average home price was $576,203, which is up from $573,898 in June and a 52.7% increase from 2020. There were 0.8 months of inventory and 77 active listings, according to the mid-year data report.
July home sales in Leander decreased 31.1% from 2020, but the average price reached $524,042—a 42% year-over-year increase. There were 0.7 months of inventory and 82 active listings, according to the report.
Cedar Park and Leander homes, including single-family homes, townhomes and condos, spent an average of eight days on the market in July.
The Cedar Park-Leander trends follow the Austin metro's 9.9% home sale decline in July. This was the first decrease since May 2020, according to the ABoR. The previous record for home sales was set in July 2020, which saw 445 more home sales than in 2021.
Home sales prices continued to rise across the Austin-Round Rock metropolitan area. The median home price increased 37.1% since 2020 to $480,000.
ABoR President Susan Horton said in the release that July 2020 peaked due to "pent-up housing demand after several months of stay-at-home orders." Horton also said homebuyers and renters should take advantage of the current market's slower pace.
"As we have moved away from the post-COVID boom, the market has begun to stabilize," Horton said in the release. "The typical seasonality for the summer returned as people re-engaged in other activities, including travel. There are fewer instances of dozens of offers over list price even as home prices continue to rise, albeit at a slower rate month to month than the surge experienced in the first half of the year.”
