Cedar Park Real Estate Market Report

August 2021

 

In this market update I’ll review the latest real estate statistics for the Cedar Park housing market, what everyone is asking me about if the market crashing, will we see more foreclosures and advice for buyers and seller.

First let’s get into the market statistics for Cedar Park in July, 2021.

150 homes were sold in Cedar Park which was down 6.3% from 160 last year and 157 in 2019. The average sales price was up almost 50% to $572,277. The average dollars per square foot for sold homes was $235.47 up 42.7% from last year. The median price was $526,050, up 53.6% from last year.

There were 9 more homes sold over $1 Million in Cedar Park in July. That makes 17 of the 41 homes that have ever sold and recorded in the MLS for $1 Million + have been sold in the last 2 months.

The average and median prices were actually down from June due to more homes being sold at $400,000 or below. In June only 6 homes sold for $400,000 or below in Cedar Park but in July we had 27 homes at $4000,000 or under. 7 of these homes were smaller condos. Many of these were homes being sold by investors cashing in on the market. Buyers still need to act fast to snatch up one of these homes as 12 of those sales were sold as cash transactions. As a reminder if you are a landlord and want to sell your home, we do have many investors we work with who are ready to buy a home in any condition.

In 2020 the highest priced sale in June was for $840,000. In July, 2021 there were 17 home sales above $840,000.

In this market update I’ll review the latest real estate statistics for the Cedar Park housing market, what everyone is asking me about if the market crashing, will we see more foreclosures and advice for buyers and seller.

On average homes sold in July for 8% over list price which was down from 12% in June. As inventory increases, we may see that number moderate more. There are currently 80 homes for sale in Cedar Park that are not under contract. That’s a big increase from the days earlier in the year when I would run a search and there were only 5 homes for sale. For homes that closed in July the average number of days before going under contract was 8. Homes that are currently for sale have an average number of days on the market of 26 which is up from 14 days when I did the July market update.

For July the lowest priced home sold in Cedar Park was a home in Shenandoah for $290,000. The highest priced home sold was in Bella Vista which sold for $1,355,000.

The smallest home sold was the same home in Shenandoah at 1,076 SF and the largest home sold was in Ranch at Brushy Creek at 4,856 SF.

The home sold for the lowest $/SF was in Heritage Park although it still sold for $60,000 over asking price. The home that sold for the highest $/SF was a home in Caballo Ranch that sold for $235,000 over asking price.

                                                           

Is The Market Crashing?

When someone tells me the market is going to crash, I like to ask what that means to them. If my home is worth $800,000 today and the market crashes what will my home be worth and at what date? Nobody has ever been able to give me an answer to those questions.

Let me save you the suspense of having to read to the end…No, the market is not crashing. However, we are seeing the market “calming” in some areas and price ranges. Whether you are buying or selling it’s important to know what that means for you.

Why is this happening? We do know why prices have risen so dramatically this year. It’s because there have been so few homes for sale, that’s no secret. When a home is called “Active” it means it is not under contract, you can actually buy that house. Two years ago, at this time of the year there were over 7,000 homes you could buy in the Austin MLS. By January of 2021 there were barely over 1,000 homes for sale. As I write this in early August there are 3,752 Active homes for sale. That is still a low number of homes for sale but significantly more than we had in January so there’s no doubt that will affect the perception buyers have in the market. That extra price buyers were willing to pay (that I described as the whipped cream on an ice cream sundae) was the result of buyers fearing they could never find another home to buy. Time will tell how buyers will react when they have a few extra choices.

As the number of Active listings in increasing the average number of days it takes for a home to sell is also increasing. By no means is this a disaster. At a presentation for the local builders group an economist compared our market as going from a “Super, Super, Super, Super, Super Seller’s Market” to a “Super, Super, Super, Super Seller’s Market.”

Some buyers are thinking the tide has turned and the market is dropping. We put 2 homes on the market this weekend and we have multiple offers on both so in my opinion the market is still excellent for sellers, but there are some changes you should be aware of. Many buyers are going to confuse the market going from 40-50% appreciation to perhaps a more normal appreciation market and not understand that still means prices are going up. There may be less competition for each home but price appreciation momentum slowing doesn’t mean the market is crashing.

Why are we seeing an increase in Active listings? In part we normally see an increase in listings during the summer, but I believe what’s happening is more than our typical seasonality. Over the past few weeks, the rate of growth has begun to slow and fewer buyers are seeking mortgages to purchase homes.

Rental rates have gone up dramatically, indicating many buyers have put their home search on pause or decided to rent first before buying when they relocated. Anecdotally we have noticed a decrease in the number of agents doing Facetime tours on our listings and a decrease in the number of buyers expecting they will need to pay 20% over asking price on every listing. Don’t interpret that to mean people aren’t still relocating here. At this time, we have 4 listings under contract to buyers who are relocating and our open houses last weekend were full of people moving here from all over the country, not just California.

In part we are also seeing some homes not selling because the sellers overestimated the market and were overconfident about buyers paying top dollar for anything. This is a quote from a local Realtor in one of the real estate Facebook groups describing what she is seeing in the market… ”Agents not prepping listings, just putting crap on the market at top dollar. My buyers aren’t going for that!”

"Agents not prepping listings, just putting crap on the market at top dollar. My buyers aren’t going for that!”

– Anonymous Austin Realtor

Fueled by stories of sellers getting 97 offers and buyers buying with no inspections it’s understandable why this can happen. Many homes can still be sold “As-Is” with no make-ready necessary but it’s important to think about the buyer profile for your home before putting your home on the market. It’s also important you have a listing agent who is actively working in the market and can give you advice based on what’s happening in the market on a daily basis, not what happened 4 months ago. The buyer pool is strong enough to keep the housing market strong but when there are more homes to choose from you can expect buyers to be a little pickier.

What's The Good News?

The #1 question I’m asked is “I want to sell my home but then what do I do, there aren’t any homes to buy?” The good news is now we may have the answer. All of our sellers who decided to “burn their boats” and put their home on the market this year have landed in a better place. I expect the same would happen for you. Give us a call if you have been holding off until there was more to buy.

In addition to the inventory of homes increasing the builders are also selling homes again! Because we help so many people downsize, I am especially excited about a new 1,000 home Active Adult community that is about to start selling for new home delivery in early 2022. This will be a popular product so you will want to get on the VIP buyer list right away.

Do We Expect More Foreclosures?

With the eviction moratorium and mortgage forbearances ending soon the knee jerk reaction is to say we will see a flood of foreclosures. I’m not making light of the fact that some people will definitely be in trouble and we will see a rise in foreclosures, but you tell me where the mass foreclosures are going to come from?

This is a chart of 20 random sales taken from Cedar Park in May. I like to look at the down payments buyers are making. If I see lower down payments that would put buyers in a greater chance of being foreclosed on if we see a small drop in the market. We would need to see foreclosures for the market to truly crash. The larger down payments here indicate you’d have to see a large drop in prices to see foreclosures with the homes that were purchased even a couple months ago, not to mention all the other homes whose equity has dramatically increased in the last year. In addition, the big difference between today and 2008 the lack of risky loans in the market today.

We know some people will be in a bad situation in the next few months. If that is you or one of your friends contact us before it’s too late for a no-pressure consultation.

Advice For Sellers And Buyers

We have just been hired by 2 sellers whose homes didn’t sell. Both told me a similar story that they thought the market was so good they could hire their friend who works part time and lives in Dripping Springs as their agent. Now that their home wasn’t selling, they realized that isn’t going to cut it in the current market. Small changes in the market can make a huge difference. When you are choosing a listing agent make sure you ask yourself if they have the skills to navigate your home sale. Will they know what to do if your home doesn’t sell the first weekend?

For buyers now is not the time to give up! This may be the best opportunity to buy a home with less competition but that doesn’t mean it still isn’t a competitive environment for the great homes. I expect over the next 10 years your risk isn’t paying $5k too much for a home. Your greatest risk is doing nothing and then be forced to buy a home later 30 miles from where you really want to live.

Where Are Our Clients Moving To?

With so many people moving here it’s easy to forget where people are moving when they sell. Here is where some of our seller clients have moved to recently. Montana, Houston, Seattle x 2, San Diego x 2, Belton, Travisso, Nashville and Leander. Two are renting short term so they have flexibility while they figure out what to do with the rest of their lives. That’s a good position to be in right now. My favorite location are clients who are moving to Cancun as soon as they retire, I wish I could go with them!

Of course, I could be wrong about all of this. As always, be careful where you are getting your information. Make sure you are consulting with a qualified advisor. We don’t want you to make a bad decision because you had bad information. If there are any real estate related questions, we can answer for you contact us today at 512-791-7473.

                                                           

 Our Featured Listings

 

July 2021

 

The shocking headline is there were 8 homes sold in Cedar Park for over $1 Million! 3 of the highest priced sales ever in Cedar Park were recorded in June. 4 homes sold over $1 Million in Bella Vista where the previous all-time record price was $923,040. 35 homes sold for over $700,000 compared to only 6 sales at $700,000 or above in June, 2020.

On the bottom end of the market there were only 6 homes sold for under $400,000. In June, 2020 there were 95 homes sold under $400,000.

The average home sold for 12% over list price, slightly down 13% in May. Last year on average homes in Cedar Park sold for 100% of list price.

One of the most important real estate statistics is the average days on the market because it shows how fast homes go from being listed to being under contract. Homes that sold in June were on the market for an average of 6 days. However, homes active on the market have an average days on market of 14 days and homes under contract are at 10 days. Either 10 or 14 days are incredibly fast times but it may be a sign as prices have gone up the market is slightly slowing down. It also can be there are many homes on the market where sellers were overconfident that those homes aren’t selling. That can pull up the average days on market statistic without truly being an indication of the overall market. Time will tell.

There were 146 homes sold in June, 2021 which is the same number of homes sold in 2020. Average sales price was up 52.4% to $596,861. Average $/SF up 50.9% to $243,80 and the median sales price is up to $545,000.

For June the lowest priced home sold in Cedar Park was for $285,000 in Anderson Mill West. The highest priced home sold was for $1,500,000 and was a home with beautiful views in The Reserve at Twin Creeks.

The smallest home sold was the same house in Anderson Mill West at only 939 SF and the largest home sold was at 5,348 SF sold for $1,160,000 in Bella Vista.

The home sold for the lowest $/SF was in Ranch at Cypress Creek at $157.88 and the home that sold for the highest $/SF was a nicely updated flip home in Cypress Mill for $331.87.

                                                           

Now let’s talk about some real inside information about what’s happening in the Cedar Park real estate market you won’t see from anyone else.

When you hear there are multiple offers for a home you probably think they are all tightly bunched together right around the final sales price. This is a chart of about 1/3 of the homes I have sold in the last 2 months. The difference between the first and second offers will surprise you. I’ve been talking about the real estate market being driven in part on fundamentals with a heavy dose of emotion both from buyers and Realtors. This chart shows the emotional aspect of the market with buyers not realizing they are competing largely against themselves when offering on a home.

You’re going to start hearing talk about the market cooling. Some will interpret that to mean a crash. I would compare it more to going from a Ferrari to a Maserati, not going from a Ferrari to a Pinto. Remember, slowing appreciating doesn’t mean real estate is going to get cheaper.

Personally, I am bullish on the real estate market in our area. However, this chart demonstrates why some sellers will have trouble. We are already seeing more price reductions and homes not selling at all and be taken off the market. You will see sellers finding out a home sells with multiple offers for $880,000. They assume there are 11 other buyers at the same price, not realizing the next buyer was really at $800,000. The seller is going to say “That home sold for $880,000, the market is so good plus my house has a birdbath so I will list for $900,000.” What we are seeing is that seller is shocked they didn’t get an offer at that price.

This is a big risk for sellers who hire a listing agent that isn’t reviewing the volume of real world offers as our office does. It’s important for you as a seller that you have accurate information about what’s happening in your specific area because real estate is local. The average agent only sells 2-3 homes per year. Many haven’t sold a home all year. Their information is coming from Facebook groups, friends or stories in the media. That information is not going to be up to date with what is happening in the market today. We are already seeing homes listed by other agents not sell and because our office has specialized in helping people get their home sold after having a frustrating experience with another agent, we are beginning to get more calls from sellers who don’t understand what’s happening with their listing.

All year I’ve been very careful about not telling potential sellers to hold off listing because the buyer sentiment can change quickly. In the news it’s reported we need 5.5 million homes built to have a balanced market between buyers and sellers. Others say a jump in interest rates won’t have an impact on the market because even if half the buyers pause their search there will still be 6 buyers making an offer. Maybe on the macro level all that is true, but remember you are only selling one home. This chart shows the danger in that thinking because it won’t take 5.5 million homes to make the price of your home go from $880,000 to $800,000…all it may take is one more home in your neighborhood for buyers to choose from. All it takes is one $880,000 buyer to get spooked by higher rates for you to be left with only an $800,000 offer.

It’s also hard for me to tell you what your home will be worth next year. Sellers holding off for “one more year” of appreciation may be disappointed. The overall market may appreciate next year but for the $880,000 sale what would be your basis to calculate the appreciation off? $8800,000, $800,000 or somewhere in between? I probably couldn’t sell that house again for $880,000 so it’s hard for even me to know what to tell someone about how that will impact the value of your home next year.

Overall, I am bullish on the real estate market in our area. I personally just put my money where my mouth is and bought a home for my family. I'm also under contract on a property I will be flipping. Nothing I am saying here means buyers should hold off, I believe that will be a mistake. However, sellers should expect buyers will be less emotional later in the year and into 2022.

Overall, I am bullish on the real estate market in our area. I personally just put my money where my mouth is and bought a home for my family. I'm also under contract on a property I will be flipping. Nothing I am saying here means buyers should hold off, I believe that will be a mistake. However, sellers should expect buyers will be less emotional later in the year and into 2022.

                                                           

 Our Featured Listings

 

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.

 

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