Eleven Oaks Realty is proud to present their August 2018 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The August 2018 Austin Luxury Real Estate Price Report covers the luxury market in the following Austin metro area counties: Travis, Williamson and Hays.
Number of Luxury Homes Listed for Sale Up 8%
In August 2018, there were 124 luxury homes introduced to the market compared to 115 in August 2017, marking an 8% (9 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Up 32%
In August 2018, 75 luxury homes went pending in the Austin area compared to 57 in August 2017, marking a 32% (18 home) increase in year over year numbers.
17% Increase in the Number of Luxury Home Sales in Austin
In August 2018, 89 luxury homes sold compared to 76 luxury homes in August 2017, marking a 17% (13 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 27%
In August 2018, there was 9.1 months of inventory on the Austin luxury real estate market compared to 12.5 months in August 2017 – a 27% decrease in year over year numbers. We have seen a decrease in inventory for the past few months and it will be interesting to see if it continues as we head into fall.
Time to Sell Luxury Home in Austin Down 5%
In August 2018, it took 91 days to sell a luxury home in Austin, on average, compared to 95 days in August 2017, marking a 5% (4 day) decrease in year over year numbers.
Austin Median Luxury Home Price Up 2%
This month, the median home sale price of a luxury home in the Austin area was up 2%. The median home price in August 2018, when you consider homes that sold for $1 million or more, was $1,300,000 compared to $1,280,500 in August 2017.
Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Austin Home Values Report.
2% Fewer Homes on the Luxury Market
In August 2018, there were 837 luxury homes for sale in the Austin area, compared to 851 in August 2017, marking a 2% decrease in year over year numbers.
Number of Luxury Homes Taken Off the Market Down 5%
In August 2018 there were 77 luxury homes taken off the market compared to 81 in August 2017, showing a 5% (4 home) decrease in year over year numbers. We have seen this decrease in homes taken off the market for the past two months now. It seems sellers are sticking to their plan of selling and taking advantage of the increase in buyer demand.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Down 2% – Luxury Demand Up 17%
This month we saw a 2% decrease in luxury housing supply (number of properties for sale) and a 17% increase in luxury demand (number of sold properties).
Median for Sale Price Saw No Change – Median Sold Price Up 2%
In the Austin area, we saw no change in median for sale price of a luxury home, while the median sold price of a luxury home was up 2% in year over year numbers. The median for sale price of a luxury home was $1,595,000 in August 2018 compared to $1,595,000 in August 2017 marking no change in year over year numbers. The median sold price of a luxury home was $1,300,000 in August 2018 and $1,3280,500 August 2017, showing a $19,500 increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
August 2018 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in August 2018 were west of 35, south of 183 (with the exception of 4) and north of 290 (with the exception of 2). Here is a map of the 90 Austin luxury homes that sold in August 2018.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in August 2018
More Data on Austin Luxury Home Sales August 2018
Here is some additional data on the 90 luxury homes that sold in Travis, Williamson and Hays Counties in August 2018. These 90 homes sold for $1 million or more.
- 1 luxury home that sold was a Foreclosure (Bank Owned)
- 11 luxury homes were Waterfront
- 43 luxury homes were in the Austin ISD
- 3 luxury homes were in the Dripping Springs ISD
- 18 luxury homes were in the Eanes ISD
- 0 luxury homes were in the Hays ISD
- 15 luxury homes were in the Lake Travis ISD
- 8 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 0 luxury homes were in the Wimberley ISD
- 29 luxury homes were in Gated Communities
- 49 luxury homes were in HOA’s
- 48 luxury homes had Pools
- 26 luxury homes were on Septic Systems
- 83 luxury homes that sold were located in Travis County
- 4 luxury homes that sold were located in Williamson County
- 3 luxury homes that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in August 2018
Luxury Homes for Sale Around Austin
Here is a map view of the 607 luxury homes currently for sale in the Austin area as of September 14, 2018. 519 are located in Travis County, 31 are located in Williamson County and 57 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
August 2018 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for August 2018 Austin area luxury home sales below. The most expensive luxury home that sold in August 2018 sold for $8,150,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 2,251 sqft – 10,425 sqft with an average size of 4,368 sqft. The average price per square foot for a luxury home that sold in Austin in August 2018 was $373.05 with the lowest being $181.46 /sqft and the highest being $953.22/sqft. It took, on average, 92 days to sell a luxury home in Austin and sellers received, on average, 92.64% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 2 | 2,251 | $997,110 | $198.83 | $1,000,000 | $181.46 | 77.78% | 69.62% | 0 |
| Max | 8 | 10 | 10,425 | $9,995,900 | $1,169.11 | $8,150,000 | $953.22 | 106.81% | 106.81% | 715 |
| Avg | 4 | 5 | 4,368 | $1,697,952 | $391.29 | $1,603,845 | $373.05 | 96.03% | 92.64% | 92 |
| Median | 4 | 4 | 4,175 | $1,395,000 | $363.75 | $1,306,500 | $348.94 | 96.05% | 94.34% | 44 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Aug-18 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 90 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Considering Buying or Selling a Luxury Home in Austin?
Our team of Austin luxury real estate market specialists know the market well and can help you get the best deal possible. For more info about our team and how we work, check out our Austin Home Buyers and our Austin Home Sellers sections. Then, call us at (512) 872-8323 or email us at info@11OaksRealty.com to schedule a consultation.
Questions About the Austin Luxury Real Estate Price Report?
Do you have questions about this Austin Luxury Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can.
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