Eleven Oaks Realty is proud to present their February 2022 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 2022 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 90%
In February 2022, there were 306 luxury homes introduced to the market compared to 161 in February 2021, marking a 90% (145 home) increase in year over year numbers. This is quite a significant jump to see in the Austin luxury market.
Austin Luxury Homes Under Contract Saw a 50% Increase
In February 2022, 256 luxury homes went pending in the Austin area compared to 171 in February 2021, marking a 50% (85 home) increase in year over year numbers.
31% Increase in the Number of Luxury Home Sales in Austin
In February 2022, 173 luxury homes sold compared to 132 luxury homes in February 2021, marking a 31% (41 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 26%
In February 2022, there was 1.0 month of inventory on the Austin luxury real estate market compared to 1.4 months in February 2021 marking a 26% (0.4 month) decrease in year over year numbers. Inventory levels continue to be at record low numbers for the Austin luxury market.
Time to Sell Luxury Home in Austin Saw a 47% Decrease
In February 2022, it took 20 days to sell a luxury home in Austin, on average, compared to 38 days in February 2021, marking a 47% (18 day) decrease in year over year numbers. The median days to sell is 7, which is much more representative of the actual time it takes to sell a luxury home after it is introduced to the market.
Austin Median Luxury Home Price Saw a 4% Increase
This month, the median home sale price of a luxury home in the Austin area saw a 4% increase in year over year numbers. The median home price in February 2022, when you consider homes that sold for $1 million or more, was $1,438,000 compared to $1,377,500 in February 2021.
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.
30% Increase in the Number of Homes on the Luxury Market
In February 2022, there were 556 luxury homes for sale in the Austin area, compared to 428 in February 2021, marking a 30% (128 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 90% Increase
In February 2022 there were 38 luxury homes taken off the market compared to 20 in February 2021, showing a 90% (18 home) increase in year over year numbers.
Luxury Supply Up 30% – Luxury Demand Up 31%
This month we saw a 30% increase in luxury housing supply (number of properties for sale) and a 31% increase in luxury demand (number of sold properties).
Median for Sale Price Saw No Change – Median Sold Price Up 4%
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 saw a 4% ($60,500) increase in year over year numbers. The median for sale price of a luxury home was $1,499,996 in February 2022 compared to $1,500,000 in February 2021 marking a 4% increase in year over year numbers. The median sold price of a luxury home was $1,438,000 in February 2022 and $1,377,500 in February 2021, showing a 4% increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
February 2022 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in February 2022 were west of 130 (with the exception of 3), south of 29 (with the exception of 10), and north of 150 (with the exception of 7). Here is a map of the 173 Austin luxury homes that sold in February 2022.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in February 2022
More Data on Austin Luxury Home Sales February 2022
Here is some additional data on the 138 luxury homes that sold in Travis, Williamson and Hays Counties in February 2022. These 138 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 3 luxury homes were Waterfront
- 72 luxury homes were in the Austin ISD
- 12 luxury homes were in the Dripping Springs ISD
- 13 luxury homes were in the Eanes ISD
- 6 luxury homes were in the Georgetown ISD
- 1 luxury home was in the Hays ISD
- 20 luxury homes were in the Lake Travis ISD
- 19 luxury homes were in the Leander ISD
- 9 luxury homes were in the Round Rock ISD
- 2 luxury homes were in the San Marcos ISD
- 4 luxury homes were in the Wimberley ISD
- 26 luxury homes were in Gated Communities
- 95 luxury homes were in HOA’s
- 77 luxury homes had Pools
- 56 luxury homes were on Septic Systems
- 129 luxury homes that sold were located in Travis County
- 24 luxury homes that sold were located in Williamson County
- 20 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in February 2022
February 2022 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 2022 Austin area luxury home sales below. The most expensive luxury home that sold in February 2022 sold for $6,958,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 800 sqft – 13,127 sqft with an average size of 3,484 sqft. The average price per square foot for a luxury home that sold in Austin in February 2022 was $530.65 with the lowest being $188.68/sqft and the highest being $1,811.88/sqft. It took, on average, 29 days to sell a luxury home in Austin and sellers received, on average, 104.62% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 1 | 1 | 800 | $799,000 | $120.35 | $1,000,000 | $188.68 | 86% | 71% | 0 |
| Max | 7 | 8 | 13,127 | $6,500,000 | $1,875 | $6,958,000 | $1,811.88 | 185% | 185% | 284 |
| Avg | 4 | 4 | 3,484 | $1,661,291 | $504.11 | $1,726,943 | $530.65 | 105.84% | 104.62% | 29 |
| Med | 4 | 4 | 3,250 | $1,370,000 | $462.57 | $1,438,000 | $481.70 | 102% | 101% | 7 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | February 2022 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 173 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 289 luxury homes currently for sale in the Austin area as of March 17 2022. 192 are located in Travis County, 51 in Hays County and 46 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 February 2022 Austin Luxury Real Estate Price Report?
Do you have questions about the February 2022 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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