According to data from the Austin Board of Realtors, 84 percent of homes sold in Cedar Park and Leander were priced under $400,000 throughout portions of March, April, May and June.

Shanan Shepherd, a Leander City Council member and a co-owner and Realtor with Shepherd Nelson Realty in Leander, said she expects new construction to influence the market. She said there is a growing amount of higher-end construction in Leander, so homes priced over $400,000 are on the market longer. Meanwhile, she said many houses under $250,000 are receiving multiple offers.

Vaike O’Grady, the Austin regional director with Metrostudy, said the market has seen a very high demand for lower price points, and builders who are building at that level are performing better than those developing homes at a higher price point.

O’Grady said she expects to see more houses come online in the $200,000-$300,000 range, but she said that has been difficult for developers experiencing higher costs. She said rising construction prices, labor challenges and additional city regulations add costs onto developers building new homes, which will make it more difficult to keep prices for new homes down.

Because of the pressure on prices, O’Grady said some builders may develop smaller homes, and Shepherd said those smaller houses may be priced higher per square foot.

“At a certain point, the buyer pool shrinks because they just can’t afford it,” O’Grady said.