About Williamson County, TX

Round Rock:

The average price is up 4.4% from a year ago to $215,727. Single-family home sales are down 16.3% when compared to this time last year. The months of inventory is down slightly to 5, which favors buyers somewhat. Since last month the number of active listings is down slightly to 1024 units, but the number of listings is still up 13% compared to this time last year. Round Rock is in the top 25 most active Austin MLS markets.

Mary "B" Battaglia GRI, CRS

www.maryb.com

"Referrals Appreciated!"

Cedar Park/Leander:

The average sales price is up 5% from this time last year to $208,074. Single family home sales have decreased 12.5% for the year and the months of inventory has dropped slightly to 4.8 months, which slightly favors buyers. The number of active listings is at 829, up 35% compared to year ago. This area is in the top 25 Austin MLS markets.

Mary "B" Battaglia GRI, CRS

www.maryb.com

"Referrals Appreciated!"

I was recently requested to conduct some research on Cedar Park to determine market viability regarding a possible development project for one of our brokerage’s listings. The property used as a point of reference is referred to as US HWY 183 @ Woods Lane.

Cedar Park has experienced significant growth in population from 5,161 in 1990 to about 52,058 at present, and in the last ten years alone Cedar Park grew over 400%. Check out this population statistics chart from the City of Cedar Park. Cedar Park is in Williamson County which boasts the highest population growth at 79.1% since 1990 and 49.4% from 2000 - 2007. This is significantly higher when compared to the Austin Metropolitan Statistical Area (MSA), Bastrop, Caldwell, Hays, and Travis counties respective population growth statistics. Of significance is that Williamson County’s population growth at 79.1% far outpaces the overall growth of both the State of Texas at 22.8% and the United States at 13.1%. The Austin Chamber of Commerce has a population density map for the Greater Austin Area that can be used as a quick reference.

In addition to a booming population the area boasts an educated work force with nearly half holding a bachelors degree or higher. The unemployment rate data is a bit old, dated 2006, but indicates a rate hovering around 2.6% – 2.7%.

Income in the Austin MSA is $56,746; take a look at an income map from the Austin Chamber of Commerce. For a more detailed review of income at the reference property location take a look at this map. To review Cedar Park and other Austin MSA area tax rates for 2007 visit The Austin Chamber of Commerce’s website.

Traffic counts in the area along some major roads are potentially good indicators for some types of commercial real estate development from retail to gas stations, of course depending upon the location, zoning, and host of other factors. The City of Cedar Park offers an excel spread sheet on their website with a break down comparison over time, from 1999 to 2008, of traffic counts. [Please select “Save File” to download. Then open Excel to view]. The traffic count data from the City of Cedar Park reveals a noticeable drop in traffic counts after the implementation of the toll roads. Further reviewing traffic counts I visited Texas Department of Transportations (TxDOT) online State Wide Planning Map. I determined that Annual Average Daily Traffic Counts for the area of US HWY 183 @ Woods Lane were 31000 – 35000. I also contacted TxDOT directly via email and obtained some District Traffic Maps of Williamson and Travis county areas. The 2007 District Traffic Map base sheets indicate a traffic count range between 33,000 - 36,000 for the area of US HWY 183 @ Woods Lane.

Overall the data indicates that the subject location, US HWY 183 @ Woods Lane, will have dependable and potentially increasing traffic counts in the future and thus be suitable for certain developments dependent upon traffic flow which could potentially include but are not limited to a gas station, convenience store, or a retail center. The population growth for the area is strong and in combination with the education level of the work force and unemployment rates hovering around 2.6% – 2.7% this indicates that any business located on the future developed site will not lack for employees or customers.

Miscellaneous information:

Cedar Park 3 year annexation plan
Cedar Park Future Land Use Map
City Limits / ETJ Map
Arterial Roadway Plan Map
Subdivision Map
Cedar Park Planning Map includes zoning, city limits, ETJ, arterial roadways

Sources:

http://www.austinchamber.com/
http://www.austin-chamber.org/
http://www.cedarparktx.us/
http://www.dot.state.tx.us/
http://realty-tx.com/