Eleven Oaks Realty is proud to present their August 2020 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. Our August 2020 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 56%
In August 2020, there were 208 luxury homes introduced to the market compared to 133 in August 2019, marking a 56% (75 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 112% Increase
In August 2020, 195 luxury homes went pending in the Austin area compared to 92 in August 2019, marking a 112% (103 home) increase in year over year numbers. Pent up demand has unleashed in the Austin luxury housing market.
107% Increase in the Number of Luxury Home Sales in Austin
In August 2020, 197 luxury homes sold compared to 95 luxury homes in August 2019, marking a 107% (102 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 70%
In August 2020, there was 2.4 months of inventory on the Austin luxury real estate market compared to 8.0 months in August 2019, a 70% (5.6 month) decrease in year over year numbers. This is the lowest we’ve seen Austin luxury inventory in years.
Time to Sell Luxury Home in Austin Saw a 13% Decrease
In August 2020, it took 66 days to sell a luxury home in Austin, on average, compared to 76 days in August 2019, marking a 13% decrease in year over year numbers.
Austin Median Luxury Home Price Saw a 5% Increase
This month, the median home sale price of a luxury home in the Austin area saw a 5% ($65,000) increase in year over year numbers. The median home price in August 2020, when you consider homes that sold for $1 million or more, was $1,425,000 compared to $1,360,000 in August 2019.
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.
13% Decrease in the Number of Homes on the Luxury Market
In August 2020, there were 777 luxury homes for sale in the Austin area, compared to 891 in August 2019, marking a 13% (114 home) decrease in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 77% Increase
In August 2020 there were 106 luxury homes taken off the market compared to 60 in August 2019, showing a 77% (46 home) increase in year over year numbers.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply Down 13% – Luxury Demand Up 107%
This month we saw a 13% decrease in luxury housing supply (number of properties for sale) and a 107% increase in luxury demand (number of sold properties).
Median for Sale Price Up 2% – Median Sold Price Saw Up 5%
In the Austin area, we saw a 2% ($25,000) increase in median for sale price of a luxury home, while the median sold price of a luxury home saw a 5% ($65,000) increase in year over year numbers. The median for sale price of a luxury home was $1,650,00 in August 2020 compared to $1,625,000 in August 2019 marking a 2% increase in year over year numbers. The median sold price of a luxury home was $1,425,000 in August 2020 and $1,360,000 in August 2019, showing a 5% ($65,000) increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
August 2020 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in August 2020 were west of 35 (with the exception of 1), south of 183 (with the exception of 5), and north of 290 (with the exception of 8). Here is a map of the 198 Austin luxury homes that sold in August 2020.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in August 2020
More Data on Austin Luxury Home Sales August 2020
Here is some additional data on the 198 luxury homes that sold in Travis, Williamson and Hays Counties in August 2020. These 198 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 26 luxury homes were Waterfront
- 80 luxury homes were in the Austin ISD
- 3 luxury homes were in the Dripping Springs ISD
- 29 luxury homes were in the Eanes ISD
- 0 luxury homes were in the Georgetown ISD
- 2 luxury homes were in the Hays ISD
- 52 luxury homes were in the Lake Travis ISD
- 17 luxury homes were in the Leander ISD
- 4 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 3 luxury home was in the Wimberley ISD
- 56 luxury homes were in Gated Communities
- 111 luxury homes were in HOA’s
- 77 luxury homes had Pools
- 71 luxury homes were on Septic Systems
- 185 luxury homes that sold were located in Travis County
- 5 luxury homes that sold were located in Williamson County
- 8 luxury home that sold was located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in August 2020
August 2020 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 2020 Austin area luxury home sales below. The most expensive luxury home that sold in August 2020 sold for $6,700,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,651 sqft – 16,323 sqft with an average size of 4,430 sqft. The average price per square foot for a luxury home that sold in Austin in August 2020 was $420.68 with the lowest being $167.12/sqft and the highest being $1,820.92/sqft. It took, on average, 55 days to sell a luxury home in Austin and sellers received, on average, 95.44% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 2 | 1,651 | $969,900 | $172.31 | $1,000,000 | $161.62 | 54% | 53% | 0 |
| Max | 8 | 12 | 16,323 | $7,500,000 | $1,859.26 | $6,700,000 | $1,820.92 | 116% | 116% | 477 |
| Avg | 4 | 5 | 4,430 | $1,944,776 | $456.05 | $1,860,559 | $441.06 | 97.07% | 95.44% | 55 |
| Med | 4 | 4 | 4,177 | $1,482,500 | $422.62 | $1,425,000 | $401.51 | 98% | 97% | 29 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | August 2020 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 198 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 457 luxury homes currently for sale in the Austin area as of September 18, 2020. 388 are located in Travis County, 39 in Hays County and 31 in Williamson County.
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 our August 2020 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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