Eleven Oaks Realty is proud to present their July 2019 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. Our July 2019 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 9%
In July 2019, there were 157 luxury homes introduced to the market compared to 144 in July 2018, marking a 9% (13 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Up 29%
In July 2019, 102 luxury homes went pending in the Austin area compared to 79 in July 2018, marking a 29% (23 home) increase in year over year numbers.
22% Increase in the Number of Luxury Home Sales in Austin
In July 2019, 111 luxury homes sold compared to 91 luxury homes in July 2018, marking a 22% (20 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 20%
In July 2019, there was 7.1 months of inventory on the Austin luxury real estate market compared to 8.9 months in July 2018 – a 20% decrease in year over year numbers. We saw a slight decrease in Austin luxury inventory from June to July. It will be interesting to see if that trend continues through fall or if we see the uptick we typically see during the last half of the year.
Time to Sell Luxury Home in Austin Down 23%
In July 2019, it took 66 days to sell a luxury home in Austin, on average, compared to 85 days in July 2018, marking a 23% (20 day) decrease in year over year numbers. Though we saw a 2 week increase from last month, we are still seeing luxury home buyers decide much faster this year than last year.
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% ($65,050) increase in year over year numbers. The median home price in July 2019, when you consider homes that sold for $1 million or more, was $1,365,000 compared to $1,299,950 in July 2018.
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.
6% Increase in the Number of Homes on the Luxury Market
In July 2019, there were 897 luxury homes for sale in the Austin area, compared to 843 in July 2018, marking a 6% (54 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Up 12%
In July 2019 there were 66 luxury homes taken off the market compared to 59 in July 2018, showing a 12% (7 home) increase in year over year numbers. We are starting to see an uptick from summer lows, which is to be expected as we head deeper into fall.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply Up 6% – Luxury Demand Up 22%
This month we saw a 6% increase in luxury housing supply (number of properties for sale) and a 22% increase in luxury demand (number of sold properties).
Median for Sale Price Saw No Change – Median Sold Price Saw a 5% Increase
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 5% increase in year over year numbers. The median for sale price of a luxury home was $1,600,00 in July 2019 compared to $1,595,000 in July 2018 marking a 0% ($5,000) increase in year over year numbers. The median sold price of a luxury home was $1,365,000 in July 2019 and $1,299,950 in July 2018, showing a 5% ($65,050) increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
July 2019 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in July 2019 were west of 35 (with the exception of 2), south of 183 and north of 290 (with the exception of 3). Here is a map of the 111 Austin luxury homes that sold in July 2019.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2019
More Data on Austin Luxury Home Sales July 2019
Here is some additional data on the 111 luxury homes that sold in Travis, Williamson and Hays Counties in July 2019. These 111 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 17 luxury homes were Waterfront
- 45 luxury homes were in the Austin ISD
- 1 luxury home was in the Del Valle ISD
- 5 luxury homes were in the Dripping Springs ISD
- 21 luxury homes were in the Eanes ISD
- 0 luxury homes were in the Hays ISD
- 27 luxury homes were in the Lake Travis ISD
- 10 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 1 luxury home was in the Wimberley ISD
- 29 luxury homes were in Gated Communities
- 54 luxury homes were in HOA’s
- 73 luxury homes had Pools
- 43 luxury homes were on Septic Systems
- 105 luxury homes that sold were located in Travis County
- 0 luxury homes that sold were located in Williamson County
- 6 luxury homes that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2019
Luxury Homes for Sale Around Austin
Here is a map view of the 600 luxury homes currently for sale in the Austin area as of August 19, 2019. 521 are located in Travis County, 27 are located in Williamson County and 52 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
July 2019 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for July 2019 Austin area luxury home sales below. The most expensive luxury home that sold in July 2019 sold for $4,080,000 and the least expensive luxury home sold for $1,007,000. Austin luxury homes ranged in size from 1,352 sqft – 11,446 sqft with an average size of 4,325 sqft. The average price per square foot for a luxury home that sold in Austin in July 2019 was $408.75 with the lowest being $155.27/sqft and the highest being $1,220.41/sqft. It took, on average, 62 days to sell a luxury home in Austin and sellers received, on average, 95.96% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 2 | 1,352 | $975,000 | $161.12 | $1,007,000 | $155.27 | 81.61% | 60.09% | 0 |
| Max | 6 | 10 | 11,446 | $4,500,000 | $1,220.41 | $4,0800,000 | $1,220.41 | 110% | 168.13% | 646 |
| Avg | 4 | 5 | 4,325 | $1,716,547 | $423.79 | $1,642,209 | $408.75 | 96.47% | 95.96% | 62 |
| Med | 4 | 5 | 4,069 | $1,450,000 | $386.97 | $1,365,000 | $349.98 | 97.6% | 96.99% | 23 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Jul-19 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 111 |
| 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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