The Central Texas real estate market continues to set housing records despite affordability growing pains, according to March Austin Board of Realtors data.
“The Austin-Round Rock MSA is one of the fastest growing in the country, people want to live here, and job creators see opportunity to be successful here,” ABoR President Susan Horton said in a news release. “Our housing market is undergoing growing pains and creating a paradox—affordable from the outside looking in, but increasingly unaffordable for those who already call Austin home. While more homes are selling than ever before, it’s more and more difficult to find one.”
In Leander, residential sales decreased 27.1% year over year. However, median prices in the area continue to rise, increasing 46.7% year over year to $423,495. Leander also was reported to have 0.2 months of housing inventory, the report said.
For Cedar Park, residential sales increased 2% year over year. The median prices in the area continue to rise, increasing 34.8% year over year to $489,000. Cedar Park also was reported to have 0.3 months of housing inventory, the report said.
