Homes Sales Drop in Cedar Park – Leander, Texas.
Our Austin housing market continues to stabilize as sales slow down. Previously I shared how prices have pulled back. Now, sales are slowing too.
One thing is certain, markets always change. During the first half of 2021 our market was sizzling hot with homes selling the first day on the market and sales numbers rising. Things have changes.
Homes sales dropped in September 2021 compared to September 2020 in both Cedar Park, TX and Leander, TX. For Cedar Park there were 122 sales last September and only 108 this September, a 11.5% drop. For Leander sales dropped from 276 to 203. That’s a 26.4% drop. This is big change for our Austin housing market.
What does this mean for Buyers? After a very difficult 8 months for Buyers in 2021 there is now more inventory from which to choose and far less bidding wars. In fact, prices have pulled back for two months in a row making this an ideal time to buy in our Austin housing market.
Buyers can also still get a great mortgage rate. The Fed has already indicated that rates are expected to increase in 2022. Waiting will cost buyers more.
For Sellers, you missed the best time to sell in 2021 but’s it’s still a seller’s market. If you’re thinking about selling it’s best to do it now rather than waiting. As inventory continues to increase it’s likely that prices could come down even more.
As a Broker, I watch our Austin housing market very closely in order to provide the best service to my clients. If you’d like to chat about the market and your needs, feel welcome to give me call at 512-516-4666.
