Home sales in Cedar Park and Leander increased 2.6 percent in May compared with the same time in 2016, according to the latest numbers released today by the Austin Board of Realtors.

Each month, the ABoR releases its Central Texas Housing Market Report to analyze housing trends in the Austin area. In addition to the increased homes sales, median home prices in the Cedar Park and Leander area rose 12.1 percent year-over-year to $323,388.

Throughout the Austin Austin-Round Rock Metropolitan Statistical Area, single-family home sales increased 9 percent in May compared with May 2016, and the volume of home sales reach $1.2 billion, setting an all-time area high for sales dollar volume in May.

Brandy Guthrie, 2017 president of the Austin Board of Realtors, said housing is an important aspect of the region’s economy.

“Housing demand continues to be at an all-time high in and around Austin, indicated by steady growth in home sales and prices, listing activity and housing inventory,” she said in a statement.

In May, single-family home sales in the Austin-Round Rock area rose 6.3 percent to 1,546 home sales in Travis County and 8.3 percent to 1,117 home sales in Williamson County.

Housing inventory levels also continued to rise in May 2017, increasing 0.4 months annually to 2.8 months of inventory across the five-county area.

“Housing inventory is on the rise, but the housing stock that’s being added to the market is increasingly at higher price points,” Guthrie said. “Rising property values and housing development costs are rapidly causing an upward shift in the price range of residential real estate available within Austin and across the region.”

For more information on the May 2017 Central Texas Housing Market Report, visit www.abor.com/statsmay17.