Eleven Oaks Realty is proud to present their December 2015 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The December 2015 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 12%
In December 2015, there were 55 luxury homes introduced to the market compared to 49 in December 2014, marking a 12% (6 home) increase in year over year numbers. It seems more luxury sellers were confident in their ability to sell their home at the slowest time of year.
Austin Luxury Homes Under Contract Down 17%
In December 2015, 25 luxury homes went pending in the Austin area compared to 30 in December 2014, marking a 17% decrease in year over year numbers. Sellers gave buyers more choices, but buyers refused to take the bait. Either they didn’t like the choices they had or they took some time off to enjoy the Holidays. Next month’s numbers should be very revealing.
69% Increase in the Number of Luxury Home Sales in Austin
In December 2015, 59 luxury homes sold compared to 35 luxury homes in December 2014, marking an 69% (24 home) increase in year over year numbers. The number of luxury home sales in December were near May and July peaks, showing the strength of the Austin luxury market.
Austin Luxury Housing Inventory Up 36%
In December 2015, there was 17.1 months of inventory on the Austin luxury real estate market compared to 12.6 months in December 2014. This marked a 36% increase in year over year numbers. With 17.1 months of inventory, the Austin luxury market is a strong buyer’s market.
Time to Sell Luxury Home in Austin Down 24%
In December 2015, it took 115 days to sell a luxury home in Austin, on average, compared to 152 days in December 2014, marking a 24% decrease in year over year numbers. With 69% more sales than last year, buyers are scooping up inventory that’s been sitting on the market for some time.
Austin Median Luxury Home Price Down 1%
This month, we saw a 1% decrease in the median home sale price of a luxury home in the Austin area. The median home price in December 2015, when you consider homes that sold for $1 million or more, was $1,390,000 compared to $1,400,000 in December 2014.
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.
15% More Homes on the Luxury Market
In December 2015, there were 537 luxury homes for sale in the Austin area, compared to 468 in December 2014, marking a 15% increase in year over year numbers.
42% Increase in the Number of Luxury Homes Taken Off the Market
In December 2015 there were 85 luxury homes taken off the market compared to 60 in December 2014, showing a 42% (25 home) increase in year over year numbers. Even with an increase in homes taken off the market, we’ve still seen a significant increase in inventory in December 2015.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Up 15% and Luxury Demand is Up 69%
This month we saw a 15% increase in luxury housing supply (number of properties for sale) and a 69% increase in luxury demand (number of sold properties).
Median for Sale Price Up 6% vs Median Sold Price Down 1%
In the Austin area, we saw a 6% increase in the median for sale price of a luxury home and a 1% decrease in the median sold price of a luxury home in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
December 2015 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in December 2015 were west of 35, south of 2222 (with the exception of 4) and north of 71 (with the exception of 3). Here is a map of the 60 Austin luxury homes that sold in December 2015.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in December 2015
More Data on Austin Luxury Home Sales December 2015
Here is some additional data on the 60 luxury homes that sold in Travis, Williamson and Hays Counties in December 2015. These 60 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 6 luxury homes were Waterfront
- 34 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 18 luxury homes were in the Eanes ISD
- 4 luxury homes were in the Lake Travis ISD
- 2 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the Wimberley ISD
- 12 luxury homes were in Gated Communities
- 36 luxury homes were in HOA’s
- 36 luxury homes had Pools
- 18 luxury homes were on Septic Systems
- 58 luxury homes that sold were located in Travis County
- 0 luxury homes that sold were located in Williamson County
- 2 luxury homes that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in December 2015
Luxury Homes for Sale Around Austin
Here is a map view of the 424 luxury homes currently for sale in the Austin area as of January 11, 2016. 390 are located in Travis County, 7 are located in Williamson County and 27 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
December 2015 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for December 2015 Austin area luxury home sales below. The most expensive luxury home that sold in December 2015 sold for $5,800,000 and the least expensive luxury home sold for $1,017,500. Austin luxury homes ranged in size from 1,188 sqft – 9,713 sqft with an average size of 4,587 sqft. The average price per square foot for a luxury home that sold in Austin in December 2015 was $380.41 with the lowest being $157.57/sqft and the highest being $1,064.81/sqft. It took, on average, 110 days to sell a luxury home in Austin and sellers received, on average, 89.50% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 2 | 1,188 | $975,000 | $196.10 | $1,017,500 | $157.57 | 73.67% | 58.35% | 0 |
| Max | 6 | 9 | 9,713 | $6,500,000 | $1,073.23 | $5,800,000 | $1,064.81 | 105.64% | 105.64% | 620 |
| Avg | 4 | 5 | 4,587 | $1,779,233 | $403.66 | $1,673,509 | $380.41 | 94.57% | 89.50% | 110 |
| Median | 4 | 5 | 4,638 | $1,494,000 | $372.58 | $1,381,250 | $343.32 | 95.59% | 92.41% | 99 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | December 2015 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 60 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
What is Your Austin Luxury Home Worth?
The Austin Luxury Real Estate Market Report is great for someone who is looking for overall trends in the luxury market. If you’re looking for a better idea of the market in your neighborhood, our Market Snapshot Tool is for you. With just your zip code, we’ll email you a detailed market report for your neighborhood including what homes actually sold for, how long it took for them to find a buyer and trends. Simply put in your zip code and the report will be emailed to you instantly!
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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