Vaike O'Grady is the Austin the regional director of the company Metrostudy, which provides data on the housing market.
O’Grady said Cedar Park is moving closer to being built out of single-family homes, whereas Leander still has plenty of room for new home construction.
“Leander is in better shape in terms of the amount of lots on the ground that are available to build on,” she said.
According to ABoR data from March-May, existing homes make up nearly 80 percent of Cedar Park’s home market. In Leander, existing homes make up nearly 40 percent of the market.
Matt Menard, a broker and co-owner of Austin Real Estate Experts, said there have been a handful of higher-density projects coming online in the area in between Toll 183A, SH 45 N, Lakeline Boulevard and Parmer Lane. He said these types of projects are helping the supply of inventory for smaller home sites and condos, though traditional single-family homes are harder to come by.
“We’re finding for other people who want new and want a larger home site and more of a traditional single-family model, they are locating further into the suburbs,” he said. “For people in the northwest area, that often means Leander and Liberty Hill, because there’s not a whole lot of new construction remaining in Cedar Park.”
More local real estate trends:
High home construction, sales help meet housing market demand in Leander and Cedar Park
Buyers in Cedar Park and Leander see competition for starter homes
Homes on smaller lot sizes coming on the market in Leander and Cedar Park
Increase in apartment options led to flat rental rates in Cedar Park and Leander