Eleven Oaks Realty is proud to present their January 2023 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. Our January 2023 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 38%
In January 2023, there were 304 luxury homes introduced to the market compared to 220 in January 2022, marking a 38% (84 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 33% Decrease
In January 2023, 150 luxury homes went pending in the Austin area compared to 224 in January 2022, marking a 33% (74 home) decrease in year over year numbers.
32% Decrease in the Number of Luxury Home Sales in Austin
In January 2023, 96 luxury homes sold compared to 141 luxury homes in January 2022, marking a 32% (45 home) decrease in year over year numbers.
Austin Luxury Housing Inventory Up 383%
In January 2023, there was 5.8 months of inventory on the Austin luxury real estate market compared to 1.2 months in January 2022 marking a 383% (4.6 month) increase in year over year numbers. We are now trending towards a balanced market.
Time to Sell Luxury Home in Austin Saw a 114% Increase
In January 2023, it took 78 days to sell a luxury home in Austin, on average, compared to 37 days in January 2022, marking a 114% (42 day) increase in year over year numbers. The median days to sell is 55, which is more representative of the actual time it takes to sell a luxury home after it is introduced to the market. Last month, the median time to sell was 37 days and 36 days the month before that.
Austin Median Luxury Home Price Saw a 3% Increase
This month, the median home sale price of a luxury home in the Austin area saw a 3% increase in year over year numbers. The median home price in January 2023, when you consider homes that sold for $1 million or more, was $1,400,250 compared to $1,364,275 in January 2022.
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.
122% Increase in the Number of Homes on the Luxury Market
In January 2023, there were 1,158 luxury homes for sale in the Austin area, compared to 521 in January 2022, marking a 122% (637 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 393% Increase
In January 2023 there were 138 luxury homes taken off the market compared to 28 in January 2022, showing a 393% (110 home) increase in year over year numbers.
Luxury Supply Up 122% – Luxury Demand Down 32%
This month we saw a 122% increase in luxury housing supply (number of properties for sale) and a 32% decrease in luxury demand (number of sold properties).
Median for Sale Price Saw a 7% Increase – Median Sold Price Up 3%
In the Austin area, we saw a 7% ($100,500) increase in median for sale price of a luxury home, while the median sold price of a luxury home saw a 3% ($35,975) increase in year over year numbers. The median for sale price of a luxury home was $1,572,500 in January 2023 compared to $1,472,000 in January 2022 marking a 7% increase in year over year numbers. The median sold price of a luxury home was $1,400,250 in January 2023 and $1,364,275 in January 2022, showing a 3% increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
January 2023 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in January 2023 were west of 130, south of 138, and north of 150. Here is a map of the 95 Austin luxury homes that sold in January 2023.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in January 2023
More Data on Austin Luxury Home Sales January 2023
Here is some additional data on the 95 luxury homes that sold in Travis, Williamson and Hays Counties in January 2023. These 95 homes sold for $1 million or more.
- 0 luxury homes that sold were a Foreclosure (Bank Owned)
- 3 luxury homes were Waterfront
- 40 luxury homes were in the Austin ISD
- 9 luxury homes were in the Dripping Springs ISD
- 9 luxury homes were in the Eanes ISD
- 4 luxury homes were in the Georgetown ISD
- 2 luxury homes were in the Hays ISD
- 12 luxury homes were in the Lake Travis ISD
- 14 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
- 1 luxury home was in the Wimberley ISD
- 17 luxury homes were in Gated Communities
- 53 luxury homes were in HOA’s
- 39 luxury homes had Pools
- 33 luxury homes were on Septic Systems
- 74 luxury homes that sold were located in Travis County
- 9 luxury homes that sold were located in Williamson County
- 12 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in January 2023
January 2023 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for January 2023 Austin area luxury home sales below. The most expensive luxury home that sold in January 2023 sold for $5,700,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,446 sqft – 10,368 sqft with an average size of 3,679 sqft. The average price per square foot for a luxury home that sold in Austin in January 2023 was $493.52 with the lowest being $204.65/sqft and the highest being $1,030.79/sqft. It took, on average, 70 days to sell a luxury home in Austin and sellers received, on average, 89.14% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 1 | 1,446 | $997,500 | $206.27 | $1,000,000 | $204.65 | 83% | 63% | 0 |
| Max | 7 | 8 | 10,368 | $6,195,000 | $1,127.27 | $5,700,000 | $1,030.79 | 114% | 114% | 256 |
| Avg | 4 | 4 | 3,679 | $1,824,580 | $519.85 | $1,730,946 | $493.52 | 95.2% | 89.14% | 70 |
| Med | 4 | 4 | 3,623 | $1,495,000 | $465.37 | $1,400,000 | $447.12 | 95% | 90% | 55 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | January 2023 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 95 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 874 luxury homes currently for sale in the Austin area as of February 7, 2023. 630 are located in Travis County, 112 in Hays County and 132 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 January 2023 Austin Luxury Real Estate Price Report?
Do you have questions about the January 2023 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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