Both Cedar Park and Leander experienced a boost in home sales this April compared to last year. Cedar Park’s total residential sales grew by 32.4%, while Leander’s grew by 15.2%, according to data from the Austin Board of Realtors.
The majority of sales in both cities were existing homes, including 127 existing home sales in Cedar Park and 73 existing home sales in Leander.
There were 33 new constructions sold in Leander, and only 8 new constructions sold in Cedar Park.
Until April, Leander had been experiencing a year-over-year drop in residential sales, according to ABoR data. The April boom has brought sales in 2019 nearly in line with 2018, with a 0.9% year-to-date drop.
The April increase was in line with much of the area. Williamson County saw single-family home sales rise by 22.6%, and the same rose in Travis County by 8.4%, according to the ABoR data. However, median prices of single-family homes have started to level out.
“In the first quarter of the year, the median price of a single-family home in the Austin-Round Rock [Metropolitan Statistical Area] increased by just 0.2%, which is a much smaller margin compared to previous year,” said Kevin P. Scanlan, the 2019 president of ABoR, in a press release. “These narrower margins are a strong indication that market prices are starting to stabilize.”
The median price of a single-family home in Cedar Park fell by 2% in April compared to April 2018, landing at $325,000, according to the data. In Leander, the median single-family home price fell by 3.1% year over year to $286,375.