Cedar Park is seeing the lowest median home price this year for July as prices in the city continue to drop, while Leander is experiencing the opposite, according to Austin Board of Realtors data.

In July, Leander’s median home price reached $567,455, which is the highest price the city has seen this year. Cedar Park, however, saw the lowest home price in July at $512,500.

Despite Leander seeing a slight upward trend in home prices as the year progresses, ABoR President Cord Shiflet said the housing market is continuing to normalize.

“In every aspect of our market, Realtors are seeing positive signs that Austin’s housing market continues to normalize,” he said. “On top of rising housing inventory, home price growth is much closer to the 4%-5% annual growth that is typical for a healthy market.”

Housing inventory was on the rise in July, according to ABoR’s report. Leander and Cedar Park combined had a total of 868 active listings in July, compared to 320 in last July. In June, the two cities together had 710 active listings.

Shiflet said while slower price growth and increased inventory are a positive trend, elected officials should still prioritize housing.

“Our position at the Austin Board of Realtors hasn’t changed: There is a lot of work to be done to address both the present and future of housing in our region,” he said. “We need elected officials who will prioritize housing, and our community needs to work together to find solutions so that anyone that wants to buy a home in Austin can do so within their budget."

Source: CI CommunityImpact 

Posted by Grossman & Jones Group on


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