Cedar Park Property Sales Statistics - February 2011

The following statistics pulled from the Multiple Listing Service on March 3 2011, are for active and sold homes located in Cedar Park, Texas. If you are considering selling or buying a home in Cedar Park you need to educate yourself on local home values. You need to be fully aware of what is happening in your individual market in order to properly establish individual home values. Consider both the homes that are currently active and the price trend for homes that have been recently sold. The recent sales prices are the best guide. They represent what homes are actually selling for, not just what the homeowners want for their homes.

Currently there are 393 properties active on the market in Cedar Park, Texas. These properties have been active on the market an average of 88 days with an average list price of $251,066 or $96.54 per square foot. Using the price per square foot is one of the easiest ways to establish the value of your home. However, in doing that you want to try and establish the average price per square foot for homes similar to yours that are located in the same or a similar subdivision. Currently the average square footage for homes listed as active in Cedar Park is 2,585 square feet. The smaller the home generally the higher the price per square foot for homes in similar condition. This does not always hold true especially when you get into the luxury home market with many custom feature or high end amenities. The prices for homes currently active on the market range from a low of $74,950 to a high of $1,200,000 . Prices range from $41.36 to $318.68 per square foot. Days on the market range anywhere from 0 to 587 days. The best guide to home value is from actual home sales

Sold information is compared to the same month in the prior year to assist in determining price trends. The comparison is from the same month in the prior year due to fluctuations based on the time of year. Sales generally rise and fall in the same periods or months each year, so one of the best comparisons for price trends is to look at the same month in the prior year. The number of homes sold in Cedar Park showed a significant decrease from February last year. The average sales price per square foot saw a moderate decrease, and the average list price per square foot displayed a noticeable decrease. Additionally, the average days on market for properties sold in Cedar Park showed a slight increase.

Specifically, sales of single family homes saw a significant decrease of 15.87% from 63 to 53 homes sold from February of last year to February of this year. The average sales price showed a slight increase of 2.40% from $233,297 to $238,893 . The average sales price per square foot displayed a moderate decrease of 4.31% to $90.69 . The average sales price was 92.01% of the original listing price, a slight decrease from the same month in the prior year. This is indicative of how much the price was lowered in order to make the sale. The original list price was the first price the homeowner advertised, but not necessarily the advertised price at the time of the sale. However, the average days on market for the sold properties went from 76 to 78 for a slight increase of 2.63%. As the number of days on the market decreases it is indicative of the market heating up and houses moving more quickly.

If all of this is overwhelming, a good realtor can help you to understand it all. Whether you are buying or selling a home you need to carefully evaluate comparable sales to assist you in determining an appropriate value. The author, Mark Menefee, retired after 20 plus years as a fraud investigator to assist his wife Kelley Menefee in her successful Real Estate business. Both are Realtors specializing in Cedar Park Homes For Sale.  You can visit them at http://www.MyFreeHomeSearches.com. If you would like to speak to someone immediately please call Kelley at 512-736-0822. We are always glad to provide you an individualized market analysis or assist you in locating a home.