Cedar Park Real Estate Market Report

June 2021

 

I had to go back and double check the math because it’s hard to believe the statistics comparing May, 2020 to May, 2021 for real estate in Cedar Park.

The number of homes sold was up 40.9% but was still down from the 153 sales in 2019. Average price was up 53.2% and median price was up 58.9% with the average $/SF was up 44.6%.

The lowest priced home sold was $275,000 in Buttercup Creek. That was the only home sold under $315,000. The highest priced home sold was $1,200,000 in Ranch at Brushy Creek. The smallest home sold was the same home in Buttercup Creek and the largest home sold was at 5,301 in Silverado West that sold for $825,000 which is $175,000 higher than any home has ever sold for in that neighborhood. The home sold at the lowest $/SF was in Carriage Hills and the home with the highest $/SF was in Shenandoah. The difference between the highest and lowest $/SF was over $240/SF.

Here are a few more interesting facts from May…The highest priced sale in May, 2020 was $710,000 compared to 27 homes selling for $710,000 or above in May, 2021 and 2 homes sold for over $1million in 2021. Only 13 homes sold for $500,000 or over in 2010 while 70 homes sold for over $500,000 in 2021. The average home sold for 13% OVER list price and the average days on market dropped from 19 in May, 2020 to 7 in 2021.

 

 

 

April 2021

 

The year over year statistics for the Cedar Park housing market are going to get very interesting. April 2020 is when we first started to see the inventory crunch we are still in and what has caused prices to rise dramatically. The real estate market essentially shut down last March and April leading to much lower than average number of homes being put on the market. Our clients who were planning to sell last March decided to hold off until later in the year and in some cases are just now planning for us to get their homes on the market in May.

Because so many homeowners decided to hold off the number of home sales is a little misleading. Home sales did increase from 88 in 2020 to 134 which is an increase of 52.3%. But, that’s still below the 166 homes that were sold in 2019.

In Cedar Park the largest home sold in April was a new home in Cypress Canyon and the smallest home sold was a 2 bedroom home in Buttercup Creek that sold for $65,000 over asking price. The home that sold at the highest $/SF was a small single story home on a large lot in Park Place showing buyers are still willing to pay a premium for oversized lots and the home that sold for the lowest $/SF sold in Carriage Hills. It’s important to note that the difference between the highest and lowest $/SF was over $200/SF which reinforces the idea that pricing real estate off average $/SF will cause you to price too high or too low. The highest price home sold was in The Ranch At Brushy Creek and the lowest priced home sold was in Blue Oaks Estates. The lowest priced home sold was the condo in The Commons. In 2020 the lowest priced home sold was $276,000 so we have jumped up $86,000 on the low end of the market in only 1 year. In April the lowest priced single-family home sold for $415,000.

On average for the overall Cedar Park real estate market homes sold for 16% over list price in April

 

 

 

March 2021

 

Wow! What a difference a year makes in the Cedar Park real estate market. Last March I was afraid to answer my phone because it was probably someone calling to cancel a contract saying something like “these are unprecedented times.” For the buyers who stuck with it that conviction sure paid off. In March the average home in Cedar Park sold for 20% higher than the original list price!

If you haven’t been following real estate prices you are going to be shocked when you see your tax appraised value. If your first thought is if someone is crazy enough to pay that much for your home you’d sell it…give us a call. Chances are that value is $125,000 + too low compared to what your home would sell for today. The reason for that is the tax values are based on comparable sales from last year. If you think your tax value is high this year, just wait until 2022 when your tax value will be based on what’s happening in the market right now.

For March the lowest priced home sold in Cedar Park was a condo off Little Elm, the smallest home sold was in Cedar Park Square and the home that sold at the lowest $/SF was in Carriage Hills. The highest priced home was sold was in Ranch at Deer Creek and it sold for $280,000 over list price, that was also the largest home that sold and the home that sold at the highest $/SF was in Park Place, selling for $145,000 over original list price.

 

 

 

February 2021


We’ve been talking about the market indicators, especially the active listings compared to the homes under contract, for about 6 months. The real estate statistics for Cedar Park in February are now showing what we have been feeling in the market for the last several months. Fewer homes being sold combined with an increase in the number of motivated buyers has led to unbelievable appreciation.

It is still possible to buy a home in Cedar Park for under $300,000. The lowest priced home sold in February was $245,000 in Gann Ranch. The smallest home sold was in Buttercup Creek and the home that sold at the lowest $/SF was a home with a pool in Gann Ranch.

The home that sold for the highest price in February in Cedar Park was a home on 2.5 acres in Whipporwill. The largest home sold in Forest Oaks and the home that sold with the highest $/SF was a small 1 story home on a large lot in Shenandoah.

Most people I talk with think their home is worth $50,000-$100,000 less than what we could sell it for today. Sellers have to be careful they are hiring a real estate agent that is active in the market. Many agents only sell 2-3 homes per year and if you are taking advice from someone who isn’t following the appreciation on a daily basis and they haven’t been active in the market since December you may accept an offer that is too low.

Careful not to give anyone the impression that the good times will last forever. All I have to do is think back to a real estate conference I attended at the end of last February. Nobody was talking anything affecting real estate and 3 weeks later we were shut down. The current trends and the market indicators point towards higher prices. We also know that trends tend to continue until something unexpected happens.

 

 

 

2021✨
December 2020


When we look at the yearly market update statistics for Cedar Park you have to remember it’s a historical perspective but not necessarily an indication of where we are going at the beginning of the year. The market indicators of active listings/pending listings as well as the average days on the market and the average sales price to original list price being 100% (buyers are not able to negotiate) mean we should see higher prices in the near future.

Looking at the current market the average sales price of homes under contract is $409,040 compared to $384,668 for all of 2020. The average $/SF of homes under contract is $172.76/SF compared to $163.44/SF. If you are buying or selling in 2021 be sure to be paying attention to the current market conditions rather than relying on comparable sales from 6 months ago.

For the year the highest priced home sold was in Breakaway Park, the largest sized home was 5,796 SF in Ranch at Brushy Creek and the home with the highest $/SF was a small single story home on 1.4 acres in Shenandoah.

 

 

 

November 2020

 

 

October 2020


At this time of the year people always ask if we are busy. The assumption is our business falls off the cliff once we hit November. In reality the real estate market in Cedar Park is not as seasonal as you might expect. With 130 homes selling in October and 162 homes under contract the real estate market is still very active. We are still concentrating on getting listings on the market to be sold before the end of the year and working with our clients who will be selling early in 2021 to get their homes ready so they can hit the ground running at the beginning of the year.

The lowest priced home sold was in the Cedar Park Ranchettes neighborhood, the smallest SF home sold was in High Meadows and the home that sold with the lowest $/SF was in Forest Oaks. The highest priced home sold was in The Reserve At Twin Creeks, the largest home sold was in The Ranch At Deer Creek and the home that sold with the highest $/SF was a small home on 1.4 acres in Shenandoah.

There were some huge jumps in the average sales price and median sales price. Keep in mind just because the average price was up 11.5% that doesn’t mean your home worth 11.5% more. Maybe it is and maybe not. Some of the increase is due to more higher end homes selling and less homes selling on the lower end of the price range. We are seeing tremendous appreciation; however, you will want to compare the expected sales price of your home to other similar homes and not the overall market. If you would like to talk about what your home can sell for in today’s market call 512-791-7473 .

 

 

Want more Cedar Park housing market statistics? Click the link below.

 

September 2020


The current market statistics comparing active listings to homes under contract tells you everything you need to know about what’s happening with the Cedar Park real estate market.

I’ve never seen our market as tight as it is right now with 4 homes under contract for every home that is available for sale.

This is a challenging market for buyers, especially buyers who do not have professional representation from an agent who is keeping up with how fast the market is moving. Almost every day a potential buyer will tell me they aren’t in a hurry. What they don’t understand is they should be in a hurry before they are priced out of the market. The median price jumping up to $382,500 shows the bottom end of the market has shown tremendous appreciation since last year. The supply and demand statistics lead me to believe prices will continue to go up.

A few of the interesting statistics for September…We saw the highest $/SF home sold in Shenandoah at $284.55 and the lowest $/SF home sold in Buttercup Creek for under $90.50 and that was the only home that sold in Cedar Park under $100/SF. Homes with over a 3X difference in $/SF demonstrates you should not be using average $/SF to price your home. The highest priced home was sold on a greenbelt in Ranch at Brushy Creek and the largest home sold was in Breakaway Park.

 

 

 

August 2020


It’s hard to believe there are almost 3 homes under contract for every home that is available for sale. With 109 homes selling in August and only 63 available for sale that gives us an absorption rate of only about 3 weeks. What that means is at the rate we are going if no other homes were listed all the homes would be under contract in about 3 weeks. This is an indication of a strong seller’s market and we are likely to see prices continue to increase as interest rates are also expected to stay low for the foreseeable future.

The median price increasing 12.1% is a startling number. The median price means if you lined up all the sales for the month the home that sold for $353,000 would be right in the middle. When I see that it demonstrates the price appreciation on the low end of the real estate market. Anyone who is a potential first-time homebuyer and has been dragging their feet should consider buying sooner than later before you are completely priced out of the market.

For August the highest priced house per SF in Cedar Park was a 1 story home with a pool in Park Place, the largest home sold was a huge house in Silverado West and the highest priced home was in the Ranch at Brushy Creek. The lowest $/SF house sold was in Carriage Hills showing there are still pockets where you can get a good value for a home. As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

July 2020


With the number of homes sold and homes under contract the Cedar Park real estate market has fully recovered from effects of Covid-19. There are almost 2 homes under contract for every home currently available for sale.

The lowest priced home sold was a small home in Carriage Hills. The highest priced home sold was a 5 bedroom home on a greenbelt with a pool and a tennis court. It’s interesting to see over a $140/SF difference between the home in Gann Ranch that sold for $100.69 SF and the home sold for $243.66 SF in Ranch at Brushy Creek. We always have to emphasize that you are buying or selling one home and not the whole market. Market statistics are interesting to look at but it’s more important to compare your home to similar homes and not the entire market.

As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

June 2020


The Cedar Park real estate market has roared back to life with the number of sales almost equaling 2019 and the number of pending homes under contract is at almost 2-1 compared to homes active. The supply/demand statistic is what tells us where the market is going. We are likely to see higher prices over at least the next few months.

The highest priced home sold in Cedar Park was in The Reserve at Twin Creeks and the lowest priced home sold was in The Cedar Park Ranchettes. Of the 129 homes sold 20 were over $500,000 showing the upper end of the market had a great month.

As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

May 2020


Whenever you see real estate statistics here or in the newspaper the headlines focus on what’s happened in the rear-view mirror. If you are planning to sell or buy real estate that might be interesting but the current market conditions will have more of an impact your plans. This month we are highlighting the supply and demand statistics. With almost 2 homes under contract for every active listing we are in a strong seller’s market.

What this means for sellers is despite the ugly numbers you are seeing for April and May sales you should have every expectation you can sell your home for a great price. What this means for buyers is if you are waiting for the market to crash you are likely going to be disappointed and will pay more for the same home in the future.

In May the highest priced home in Cedar Park was sold in the Ranch at Brushy Creek. The lowest priced home was sold in Buttercup Creek. The highest $/SF home was sold in Shenandoah and the lowest $/SF home sold was in Carriage Hills..

As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

April 2020


In April, we saw the number of sales decline by 90 from last year. That’s about what we’d expect to see during a pandemic. With 123 homes pending as of 5/1 things should start looking better going forward. 123 homes pending with only 88 homes active means we still have a strong seller’s market. However, we are seeing homes that are not selling. Although we are optimistic, we have definitely entered a more professional market and who you hire to sell your home does matter. In April the lowest priced home was in Cedar Park Town Center and the highest priced home was a 5,451 SF home on 4 acres located between Vista Ridge and 183A.

As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

 

Buyers should verify neighborhood boundaries and HOA amenities prior to purchasing a home.

 

Have a Question?

Contact Us Now!

Please provide a valid email address.