Appraisals have been coming in as expected in most cases in the Cedar Park area, I haven't had much trouble with contracted homes appraising at or slightly above contract price. Occassionally in prices ranges that involve more government loans such as FHA or USDA with little or nothing down, the buyers will ask the seller to pay all of their closing costs and offer more than the home's list price. That practice will sometimes lead to an appraisal coming in low. Also, in some new homes areas, home prices are rising quickly with growing demand. When the appraiser looks for comparable sales to justify the contract price, they sometimes have trouble when they see that the same home(floorplan) sold and closed for a lower price within the last 90 days.
If you question is aimed more broadly about values in the Cedar Park area,and not specifically appraisals, I can report that values and rising in most CP submarkets, mainly responding to decreased supply of homes coupled with increased sales.