Eleven Oaks Realty is proud to present their February 2021 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. Our February 2021 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 Down 13%
In February 2021, there were 150 luxury homes introduced to the market compared to 173 in February 2020, marking a 13% (23 home) decrease in year over year numbers.
Austin Luxury Homes Under Contract Saw a 72% Increase
In February 2021, 165 luxury homes went pending in the Austin area compared to 96 in February 2020, marking a 72% (69 home) increase in year over year numbers. This spring is starting earlier than we have seen it years past. It will be interesting to see if this pace can sustain itself. The biggest wildcard is going to be how many sellers list their homes for sale. We know demand is there. Now we just need the supply to meet it.
105% Increase in the Number of Luxury Home Sales in Austin
In February 2021, 129 luxury homes sold compared to 63 luxury homes in February 2020, marking a 105% (66 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 81%
In February 2021, there was 1.2 months of inventory on the Austin luxury real estate market compared to 6.3 months in February 2020, an 81% (5.1 month) decrease in year over year numbers. This is the lowest we’ve seen Austin luxury inventory in years. The Austin luxury real estate market remains hot!
Time to Sell Luxury Home in Austin Saw a 51% Decrease
In February 2021, it took 40 days to sell a luxury home in Austin, on average, compared to 80 days in February 2020, marking a 51% (40 day) decrease in year over year numbers. The median days to sell is 10, which is much more representative of the actual time it takes to sell a luxury home after it is introduced to the market. We are seeing some homes that have lingered finally sell, which is driving up the average.
Austin Median Luxury Home Price Saw a 4% Decrease
This month, the median home sale price of a luxury home in the Austin area saw a 4% ($55,000) decrease in year over year numbers. The median home price in February 2021, when you consider homes that sold for $1 million or more, was $1,375,000 compared to $1,430,000 in February 2020.
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.
49% Decrease in the Number of Homes on the Luxury Market
In February 2021, there were 388 luxury homes for sale in the Austin area, compared to 754 in February 2020, marking a 49% (366 home) decrease in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 58% Decrease
In February 2021 there were 24 luxury homes taken off the market compared to 57 in February 2020, showing a 58% (33 home) decrease in year over year numbers.
Luxury Supply Down 49% – Luxury Demand Up 105%
This month we saw a 49% decrease in luxury housing supply (number of properties for sale) and a 105% increase in luxury demand (number of sold properties).
Median for Sale Price Down 6% – Median Sold Price Down 4%
In the Austin area, we saw a 6% ($95,500) decrease in median for sale price of a luxury home, while the median sold price of a luxury home saw a 4% ($55,000) decrease in year over year numbers. The median for sale price of a luxury home was $1,554,500 in February 2021 compared to $1,650,000 in February 2020 marking a 6% decrease in year over year numbers. The median sold price of a luxury home was $1,375,000 in February 2021 and $1,430,000 in February 2020, showing a 4% ($55,000) decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
February 2021 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in February 2021 were west of 35 (with the exception of 7), south of 183 (with the exception of 1), and north of 290 (with the exception of 7). Here is a map of the 129 Austin luxury homes that sold in February 2021.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in February 2021
More Data on Austin Luxury Home Sales February 2021
Here is some additional data on the 129 luxury homes that sold in Travis, Williamson and Hays Counties in February 2021. These 129 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 14 luxury homes were Waterfront
- 60 luxury homes were in the Austin ISD
- 7 luxury homes were in the Dripping Springs ISD
- 18 luxury homes were in the Eanes ISD
- 0 luxury homes were in the Georgetown ISD
- 0 luxury homes were in the Hays ISD
- 26 luxury homes were in the Lake Travis ISD
- 11 luxury homes were in the Leander ISD
- 1 luxury home was in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 2 luxury homes were in the Wimberley ISD
- 23 luxury homes were in Gated Communities
- 65 luxury homes were in HOA’s
- 55 luxury homes had Pools
- 35 luxury homes were on Septic Systems
- 119 luxury homes that sold were located in Travis County
- 1 luxury home that sold was located in Williamson County
- 9 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in February 2021
February 2021 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for February 2021 Austin area luxury home sales below. The most expensive luxury home that sold in February 2021 sold for $8,584,500 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,216 sqft – 12,738 sqft with an average size of 3,929 sqft. The average price per square foot for a luxury home that sold in Austin in February 2021 was $469.16 with the lowest being $190.84/sqft and the highest being $1,184.33/sqft. It took, on average, 48 days to sell a luxury home in Austin and sellers received, on average, 102.43% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 1 | 1,216 | $850,000 | $184.48 | $1,000,000 | $190.84 | 85% | 72% | 0 |
| Max | 8 | 11 | 12,738 | $8,999,000 | $1,313.32 | $8,584,500 | $1,184.33 | 134% | 147% | 575 |
| Avg | 4 | 4 | 3,929 | $1,701,878 | $460.68 | $1,718,653 | $469.16 | 102.94% | 102.43% | 48 |
| Med | 4 | 4 | 3,607 | $1,350,000 | $428.57 | $1,375,000 | $432.15 | 100% | 101% | 10 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | February 2021 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 129 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 162 luxury homes currently for sale in the Austin area as of March 24, 2021. 144 are located in Travis County, 21 in Hays County and 17 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 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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