Introduction to Cedar Park, TX : Cedar Park is a beautiful city nestled in Texas. Located just a short drive away from the bustling city of Austin, Cedar Park has grown over the years to become a favored place to live for many people. With its welcoming community, lovely parks, and numerous attractions like shopping centers and recreational areas, it’s no wonder why so many have chosen to call it home.
A 25-Year Glimpse into Cedar Park’s Real Estate : Looking back over the past 25 years, Cedar Park's real estate market has experienced significant growth. In 1998, the average sold price of homes was a modest $119,120. Fast forward to 2023, and this average has increased to $576,941! That's a notable rise. The median sold price, which gives us a middle point of all sales, began at $116,000 in 1998 and reached $504,000 in 2023.
Over the years, Cedar Park’s housing market has seen its ups and downs. For instance, in 2020, there was a massive 43% jump in average sold prices, showcasing a booming market. However, like all markets, Cedar Park had its challenges. In 2023, there was a decrease of 9% in average sold prices, indicating a slight cooling off.
One interesting pattern is the growth rate. If we examine the annual compound growth rate, both the average and median sold prices have grown at an impressive rate of 5.98%. This tells us that Cedar Park has consistently been a place where home values appreciate.
Recent data from the last 90 days also offers valuable insights. With 106 active listings, 63 pending sales, and 208 homes already sold, Cedar Park's market remains active. A key figure to look at is the activity index, sitting at 37.3%. This percentage shows us that for every 100 homes available, 37 are in the process of being sold. Also, with only 1.68 months of inventory available, homes in Cedar Park are in demand, indicating it’s a seller's market.
Conclusion : Cedar Park, TX, has demonstrated consistent growth and resilience in its real estate market over the past 25 years. With its steady appreciation in home values, coupled with its current active market, it's clear that Cedar Park continues to be a sought-after place for many homeowners. Whether you're thinking of buying a home or selling one, Cedar Park's history and current trends suggest a promising future.

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