Is Cedar Park, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cedar Park is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Cedar Park has remained a Seller's Market.

Key Takeaway

Cedar Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cedar Park, TX

How much do homes in Cedar Park, TX cost?

Median Sold Price

$497,802

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$17,567(-3.4%)

Key Takeaway

Homes in Cedar Park have sold for 3.4% less than they did a year ago.

Summary: The median home sold price in Cedar Park was $497,802 in May 2024, down 3.4% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $355K-
N/A
2 $355K$314.5K
-11.4%
3 $427.7K$400.4K
-6.4%
4 $599.2K$595K
-0.7%
5+ $876.5K$825.5K
-5.8%

Summary: Cedar Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.4%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 5.8%.

Median Sold Price Compared To Nearby Cities

Northwest Travis
-2.4%
Cedar Park
-3.4%
Cedar Park-Liberty Hill
-5.5%
Leander
-6.0%
Leander
-7.1%

Housing Supply in Cedar Park, TX

How many homes are available in Cedar Park, TX?

Number of Homes For Sale

Apr 2024May 2024CHANGE
320375+17.2%

Summary: The Cedar Park real estate market had 375 homes for sale in May 2024, a 17.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 711
+57.1%
3 143171
+19.6%
4 126139
+10.3%
5+ 4454
+22.7%

Summary: The Cedar Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 22.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
8689+3.5%

Asking Price vs. Sold Price

41 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cedar Park, you may be able to get a good deal. 46.1% of homes here sold below asking price last month.

Summary: A total of 89 homes were sold or pending in Cedar Park in May 2024, up by 3.5% month-over-month. Of the 89 sold homes, 46% were sold under asking, 24% were sold at asking, and 30% were sold over asking.

Days on Market for Cedar Park, TX

How long does it take to sell a home in Cedar Park, TX?

Average Sale Time

May 2023May 2024CHANGE
30 Days25 Days-16.1%

Summary: Homes in Cedar Park had an average of 25 days on market in May 2024, down by 16.1% compared to last year.

Breakdown of Home Sale Times

62 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cedar Park are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 89 homes were sold in Cedar Park; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

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