Home sales rise in Cedar Park, fall in Leander in February compared year-over-year

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Cedar Park saw a hike in residential property sales while Leander saw a drop in February compared to the same month the previous year, according to data from the Austin Board of Realtors.

In Leander, total residential closings fell by 26.4 percent in February year-over-year with 67 total homes sold, according to the ABoR data. New constructions accounted for 18 of those sales.

Single-family homes went for a median price of $267,000 in Leander in February, a slight increase over 2018, according to the data.

Cedar Park saw a rise of 13.7 percent in residential sales, including single-family homes, townhomes and condominiums compared to February 2018. Most Cedar Park home sales in February were existing homes, although seven were new constructions, according to the ABoR data.

The median price of a single-family home in Cedar Park in February was $300,000, a 3.7 percent decrease year-over-year.

The increase in Cedar Park joins a year-over-year incline in sales across Williamson County, with a 7.7 percent increase in single-family homes sold in the county, according to a March 14 statement from ABoR.

The Austin-Round Rock Metropolitan Statistical Area median home price decreased by 0.3 percent from $296,000 in February 2018 to $295,000 in February 2019.

“While demand remains strong due to population growth, this is no longer a market where homes sell significantly above listing price,” ABoR President Kevin P. Scanlan said in the March 14 statement. “Housing affordability challenges might be limiting what consumers are able to pay for a home.”

In the statement, Angelos Angelou, founder and principal executive officer of AngelouEconomics, said Austin has 150,000 employees in the technology industry and the number will continue to grow as major employers come to Austin. Angelou said the housing market must “be aggressive in how we address this growth” to make sure Austin does not become unaffordable for the workforce.

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