Cedar Park One Minute Tour by ALEX.realestate

by swpre-chime-me

Cedar Park is about 21 miles north of Downtown Austin. In about a minute know more about Cedar Park real estate than almost anyone! ALEX provides agents, brokers and their clients with deep intelligence and genius real estate knowledge. ALEX is the only source of Net Sale Price Statistics (Net Sale Price = Sale Price – Repairs – Seller Contributions to Closing Costs.)

Let’s dive into the Cedar Park real estate market data for July 2023.

CEDAR PARK JULY 2023 INSIGHTS

Overall, the Cedar Park real estate market seems stable with a slight increase in average median sales and listing prices compared to the previous year. Sellers appear to be optimistic, with listing prices increasing. The market also seems to be competitive, with minimal discounts provided from the listing price.

Stable Pricing: The relatively minor change in the net sale price per square foot (SF) (from $243 in June 2023 to $242 in July 2023) signifies that the per square foot value of properties has remained stable month-over-month. This indicates a market where prices are neither skyrocketing nor plummeting dramatically.
Seller Optimism: The increase in average median list prices from June 2023 to July 2023, combined with the slight decrease in the average median net sale price during the same period, suggests sellers are growing more optimistic. They are listing their properties at higher prices, hoping to capitalize on a potential upward trend in the market.
High-End Property Stability: The highest net sale prices and the net sale prices per SF have remained constant from June 2023 to July 2023 ($2,400,000 in both months and $473/SF). This indicates that while there may be fluctuations in the median range of properties, the luxury or high-end segment of the market is stable.
Decreased Discounting: The percent of discount from the list price has decreased slightly from June 2023 to July 2023 (from 5% in June to 4% in July). This reduced need for discounting suggests a market where buyers are willing to pay closer to the list prices, which may point to a more competitive market environment.
Year-Over-Year Growth: With a 4% growth in the average median net sale price from July 2022 to July 2023, the Cedar Park real estate market is showing positive year-over-year growth. This can be attributed to various factors such as increased demand, better infrastructure, and development in the area or broader economic growth.
List Price Caution: Despite the year-over-year optimism indicated by the median list prices, there’s a decrease in the average median list price per SF by 9% from July 2022 to July 2023. This might suggest sellers are being slightly more cautious about the price points they choose, perhaps due to awareness of market limits or external economic concerns.

CEDAR PARK JULY 2023 SOLD STATISTICS

Number of Sales: 70
DOWN 18% from June 2023
DOWN 24% from July 2022

Total Net Sales* Volume: $43,684,770
DOWN 15% from June 2023
DOWN 24% from July 2022

Days from Listing to Escrow: 9.5
UP 19% from June 2023
Comment: Expected based on economy
DOWN 14% from July 2022

Median Net Sale Price*: $544,486
DOWN 4% from June 2023
Comment: Expected based on economy
UP 2% from July 2022
Comment: Expected based on inflation

Median Net Sale Price* Per SF: $245
NO CHANGE from June 2023
DOWN 10% from July 2022
Comment: Both expected based on economy

Median Net Sale Price*: $544,486
DOWN 4% from June 2023
DOWN 10% from July 2022

Median List Price per SF: $245
NO CHANGE from June 2023
DOWN 10% from July 2022

Median List Price: $522,000
DOWN 6% from June 2023
DOWN 4% from June 2023

Median Discount Net Sale Price* from List Price: 1.7%
UP 170% from June 2023
UP 39% from July 2023

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ALEX currently publishes 36 Stat Packs in the Greater Austin area. If you are interested in area we are not currently publishing or have any question, contact me. I’m always available! Diane

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Diane Hart Alexander, MBA, MHA, CEO, Broker
Alexander Tiffany Southwest dba ALEX.realestate
Chairman, ALEX Cares
v 713.591.9902
o 713.918.9951
e diane@alex.realestate

PS – If you are an Agent or Broker in Cedar Park and want to be one of the few armed with the best research, analysis, marketing and White Glove Service for your clients and for you contact me! Diane

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