What are home prices in Cedar Park Texas? Home price appreciation here is up 15.5% since this same time in 2019. This Pandemic has created a seller’s market fueled by low inventory coupled with low mortgage rates.
That’s the short answer. We are in a very strong Seller’s market. What does that mean?
We’ve all heard of Seller’s Markets and Buyer’s Markets. These terms are used to describe who has the advantage in any given market. The one determining factor between these markets is the level of inventory. Inventory is the number of homes for sale as stated in the term of months supply.
If the total total months supply of homes for sale is less than six months it is a sellers market. It it is more than six months it is a buyers market.
Right now, in Williamson County the current months supply is 0.8. It would take less than one month to sell all the homes on the market at the current pace of sales. This is a strong seller’s market.
