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