Real Estate Report

Real Estate Report

Homebuyers are facing higher prices in the increasingly competitive real estate market in Cedar Park and Leander.

Local homes rarely cost less than $200,000, which boosts development and sales revenue but can dispirit buyers, said Shanan Shepherd, a Realtor with the Leander-based 98th Meridian real estate group.

Data from the Williamson County Association of Realtors shows that since May 2010, median home prices in Cedar Park increased by 42 percent, and median home prices in Leander increased by 19 percent. Median home prices in the Avery Ranch area ZIP code of 78717 increased by 33 percent.

Michele Eilers, a Realtor with Farelli & Associates Realtors in Cedar Park, said some sellers may overprice their homes in response to real estate publicity.

“There’s a lot of buzz about [houses] selling so fast,” she said. “[Sellers] see all the great press and think, ‘Oh, well we’ll just push the market.’”

Cedar Park subdivisions such as Twin Creeks and Westside Preserve at Buttercup Creek are adding new homes. But Eilers said faster-growing areas are in Leander including Crystal Falls and new developments on Ronald Reagan Boulevard, such as Reagan’s Overlook and Sarita Valley.

In 2010 most Central Texas houses stayed on the market for more than a month. But by summer 2014 some houses were selling within a week, according to WCAR data.

A market with quick sales leaves buyers searching not only for desirable houses but for any available houses, Eilers said.

Some homebuyers rent as they await the completion of their new house or while they house-hunt, said Michele Jorgensen, community manager of Merritt Legacy Apartments in Leander.

“My apartments are all spoken for,” Jorgensen said. “Half of them are for people looking for homes or building homes in Leander … or in Liberty Hill.”

Renters pay more for short-term apartment leases of three to six months, Jorgensen said.
“They’re not blinking an eye,” she said. “They need something.”

Eilers said apartments that allow pets or feature two bedrooms are claimed the fastest, and rental rates at some apartment communities can change daily.

Some apartments offer leases with homebuying clauses that allow short-term renters to exit a lease if they provide proof of new home ownership. Renters must give 60-day notices after they live in the apartment for at least six months, Jorgensen said.

The suburbs’ growing subdivisions


Tomorrow’s house hunters in Cedar Park and Leander will have many homes to choose from, especially as new development heads north into Leander.

 

CEDAR PARK





The Arbors at Lakeline
No. of current homes: 18
No. of homes projected at build-out: 777
Price range: $230K–$266K
www.mymilestone.com/the-arbors-at-lakeline

The Bluffs at Twin Creeks
No. of current homes: 34
No. of homes projected at build-out: 65
Price range: $524K–$800K
www.ryland.com

The Crossings at Twin Creeks
No. of current homes: Unavailable
No. of homes projected at build-out: 250
Price range: $385K–$550K
www.ryland.com

Parkwest Estates
No. of current homes: 4
No. of homes projected at build-out: 75
Price range: $340K–$420K
www.ryland.com

The Reserve at Brushy Creek
No. of current homes: 74
No. of homes projected at build-out: 103
Price range: $345K–$426K
www.mymilestone.com

The Reserve at Caballo Ranch
No. of current homes: 0
No. of homes projected at build-out: 89
Price range: $353K–$434K
www.villagebuilders.com

Scottsdale Crossing
No. of current homes: 17
No. of homes projected at build-out: 88
Price range: $290K–$350K
www.mymilestone.com/scottsdale-crossing

 

LEANDER




The Boulders at Crystal Falls
No. of current homes: 350
No. of homes projected at build-out: 350
Price range: $225K–$350K
www.mycrystalfalls.com

Caballo Ranch
No. of current homes: Unavailable
No. of homes projected at build-out: 500
Price range: $340K–$475K
www.scottfelderhomes.com

Cap Rock at Crystal Falls
No. of current homes: 250
No. of homes projected at build-out: 500
Price range: $350K–$650K
www.mycrystalfalls.com/cap-rock

Cold Springs
No. of current homes: 270
No. of homes projected at build-out: 420
Price range: $223K–$350K
www.pulte.com

Crystal Crossing
No. of current homes: 153
No. of homes projected at build-out: 238
Price range: $204K–$256K
www.kbhome.com

The Fairways at Crystal Falls
No. of current homes: 350
No. of homes projected at build-out: 400
Price range: $250K–$550K
www.mycrystalfalls.com/fairways

Grand Mesa at Crystal Falls
No. of current homes: 800
No. of homes projected at build-out: 1,000
Price range: $450K–$1.3 million
www.mycrystalfalls.com/grand-mesa

Hazlewood
No. of current homes: Unavailable
No. of homes projected at build-out: 350
Price range: $241K–$417K
www.drhorton.com

The Highlands/Bluffs at Crystal Falls
No. of current homes: 600
No. of homes projected at build-out: 1,200
Price range: $250K–$550K
www.mycrystalfalls.com/highlands

Magnolia Creek
No. of current homes: 73
No. of homes projected at build-out: 270
Price range: $210K–$227K
www.drhorton.com

Mason Hills Ranch
No. of current homes: 0
No. of homes projected at build-out: 972
Price range: $225K–$326K
www.kbhome.com

Northside Meadow
No. of current homes: 47
No. of homes projected at build-out: 253
Price range: $210K–$290K
www.drhorton.com

Reagan’s Overlook
No. of current homes: 472
No. of homes projected at build-out: 560
Price range: $487K–$570K
www.reagansoverlook.com

Sarita Valley
No. of current homes: Unavailable
No. of homes projected at build-out: 253
Price range: $294K–$524K
www.saritavalley.com

Savanna Ranch
No. of current homes: 50
No. of homes projected at build-out: 400
Price range: $210K–$312K
www.ryland.com

Summerlyn
No. of current homes: 500
No. of homes projected at build-out: 790
Price range: $172K–$212K
www.centex.com/austin

Travisso
No. of current homes: 10
No. of homes projected at build-out: 2,900
Price range: $290K–$850K
www.travisso.com

Villas at Vista Ridge
No. of current homes: 0
No. of homes projected at build-out: 88
Price range: $203K–$250K
www.lennar.com

Vista Ridge
No. of current homes: Unavailable
No. of homes projected at build-out: 40
Price range: $225K–$280K
www.davidweekleyhomes.com

 

AUSTIN




Northwoods at Avery Ranch
No. of current homes: 472
No. of homes projected at build-out: 550
Price range: $200K–$600K
www.northwoodsataveryranch.com

Pearson Place at Avery Ranch
No. of current homes: 100
No. of homes projected at build-out: 428
Price range: $300K–$600K
www.pearsonplaceavery.com

 

Subdivisions were included based on the size and timeliness of their projected expansions. Those with expansions currently under construction or planned for the immediate future were prioritized.

This listing is not comprehensive. Sources: Area developers and homebuilders, city of Leander

 

LCP Real Estate Report
By Stephen Burnett
Stephen Burnett has been a community journalist since 2005. He joined Community Impact Newspaper as a reporter in November 2013. For the cities of Cedar Park, Leander and northwest Austin, he covers city and county government, business, development, events, transportation, utilities and more.


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