Cedar Park/Leander Real Estate Update

The real estate market in Leander/Cedar Park is seeing its usual increase in home sales for this time of year. There is usually a gradual in crease in the number of homes on the market and sold starting in March and running through August, at which time it starts to taper off. Taking the numbers below into account, Leander and Cedar Park have less than 4 months of inventory. Generally speaking, 6 months of inventory is a neutral market., and below that is a seller’s market, and more than 6 is considered a buyer’s market. For the first time in more than 4 years we are seeing multiple offer situations. Although, it makes it a little harder when shopping for a home, this is great news for home owners and a good sign with respect to the economy and our area.

Leander and Cedar Park both have lots of new growth both in the business and residential communities. Leander annexed 183 acres of mostly undeveloped land near FM 1431 and Nameless Road, the property known as Crystal Falls West. The property is owned by Lookout Partners and will be mostly residential with some multifamily and commercial around the major thoroughfares with some park use, future schools, and a fire station. The first phase of construction is scheduled to begin in 2014. The partners of Schlitterbahn are finalizing agreements and the City of Cedar Park says they hope there’s a new time line available in the next 90 to 120 days. Alamo Draft House and HEB Plus will be building in the area of Lakeline Blvd. and 183. HEB Plus has already begun construction. There is no timeline yet for the construction of the Alamo Draft House. Reunion Grille opened this week in Cedar Park. They’re located at 1501 E. New Hope Drive. Check out their link for menus, pricing and live music schedule.
http://reuniongrille.reachlocal.com/?scid=2630737&kw=18492197&pub_cr_id=13160697259

Real Estate Statistics for Cedar Park & Leander

Area                   Cedar Park         Leander                             Cedar Park              Leander                       Sold April 2011                75                  88           Sold May 2011          70                       80
Sold April 2012                 87                101          Sold May 2012          80                     104 
Active on Market            227                294           Active on Mkt          277                     304 
Pending                          146                199           Pending                  157                     218
Average List Price  217,319         179,578           Avg List Price 230,513               207,947
Average Sold Pric  213,422          175,456          Avg Sold Price226,229               202,082
Average Days on Mkt     56                   74          Avg Days on Mkt       43                       63