See how Leander and Cedar Park actual property fared in March. (Ali Linan/Group Influence Newspaper)
“The Austin-Spherical Rock MSA is without doubt one of the quickest rising within the nation, individuals need to dwell right here, and job creators see alternative to achieve success right here,” ABoR President Susan Horton mentioned in a information launch. “Our housing market is present process rising pains and making a paradox—inexpensive from the surface trying in, however more and more unaffordable for individuals who already name Austin residence. Whereas extra houses are promoting than ever earlier than, it’s increasingly more tough to search out one.”
In Leander, residential gross sales decreased 27.1% yr over yr. Nevertheless, median costs within the space proceed to rise, growing 46.7% yr over yr to $423,495. Leander additionally was reported to have 0.2 months of housing stock, the report mentioned.
For Cedar Park, residential gross sales elevated 2% yr over yr. The median costs within the space proceed to rise, growing 34.8% yr over yr to $489,000. Cedar Park additionally was reported to have 0.3 months of housing stock, the report mentioned.
Throughout the five-county metropolitan statistical space, residence gross sales elevated 13.1% yr over yr to three,603—a document for March. On the identical time, lively listings plummeted 78.3% to 1,202 listings, retaining housing stock at a record-low 0.4 months of stock, or 1.4 fewer months than in March 2020.
Jim Gaines, an economist on the Actual Property Analysis Middle at Texas A&M College, said within the launch that speedy residence worth progress and shrinking housing stock ranges are impacting housing markets throughout main metros in Texas and nationally.
“Whereas Austin leads the state in residence worth progress, this development can be taking place in Houston, Dallas-Fort Price and San Antonio because of excessive demand and restricted housing provide,” he mentioned within the launch. “For a market that has skilled a number of many years of sturdy inhabitants and employment progress, vital positive factors in each gross sales exercise and housing prices throughout the area are to be anticipated as Austin expands into a big metropolitan space.”
