Cedar Park Real Estate Market Report

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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