Eleven Oaks Realty is proud to present their July 2020 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 2020 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 64%
In July 2020, there were 247 luxury homes introduced to the market compared to 151 in July 2019, marking a 64% (96 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 139% Increase
In July 2020, 234 luxury homes went pending in the Austin area compared to 98 in July 2019, marking a 139% (136 home) increase in year over year numbers. Pent up demand has unleashed in the Austin luxury housing market.
73% Increase in the Number of Luxury Home Sales in Austin
In July 2020, 195 luxury homes sold compared to 113 luxury homes in July 2019, marking a 73% (82 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 71%
In July 2020, there was 2.2 months of inventory on the Austin luxury real estate market compared to 7.7 months in July 2019, a 71% (5.5 month) decrease in year over year numbers. This is the lowest we’ve seen Austin luxury inventory in years.
Time to Sell Luxury Home in Austin Saw No Change
In July 2020, it took 61 days to sell a luxury home in Austin, on average, compared to 61 days in July 2019, marking no change in year over year numbers.
Austin Median Luxury Home Price Saw a 2% Decrease
This month, the median home sale price of a luxury home in the Austin area saw a 2% ($20,956) decrease in year over year numbers. The median home price in July 2020, when you consider homes that sold for $1 million or more, was $1,334,044 compared to $1,355,000 in July 2019.
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.
7% Decrease in the Number of Homes on the Luxury Market
In July 2020, there were 837 luxury homes for sale in the Austin area, compared to 903 in July 2019, marking a 7% (66 home) decrease in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 70% Increase
In July 2020 there were 80 luxury homes taken off the market compared to 47 in July 2019, showing a 70% (33 home) increase in year over year numbers.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply Down 7% – Luxury Demand Up 73%
This month we saw a 7% decrease in luxury housing supply (number of properties for sale) and a 73% increase in luxury demand (number of sold properties).
Median for Sale Price Up 3% – Median Sold Price Saw Down 2%
In the Austin area, we saw a 3% ($50,000) increase in median for sale price of a luxury home, while the median sold price of a luxury home saw a 2% ($20,956) decrease in year over year numbers. The median for sale price of a luxury home was $1,650,00 in July 2020 compared to $1,600,000 in July 2019 marking a 3% increase in year over year numbers. The median sold price of a luxury home was $1,334,044 in July 2020 and $1,355,000 in July 2019, showing a 2% ($20,956) increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
July 2020 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in July 2020 were west of 35 (with the exception of 6), south of 183 (with the exception of 2), and north of 290 (with the exception of 13). Here is a map of the 195 Austin luxury homes that sold in July 2020.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2020
More Data on Austin Luxury Home Sales July 2020
Here is some additional data on the 195 luxury homes that sold in Travis, Williamson and Hays Counties in July 2020. These 195 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 26 luxury homes were Waterfront
- 87 luxury homes were in the Austin ISD
- 6 luxury homes were in the Dripping Springs ISD
- 29 luxury homes were in the Eanes ISD
- 1 luxury home was in the Georgetown ISD
- 0 luxury homes were in the Hays ISD
- 39 luxury homes were in the Lake Travis ISD
- 18 luxury homes were in the Leander ISD
- 4 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 6 luxury home was in the Wimberley ISD
- 50 luxury homes were in Gated Communities
- 103 luxury homes were in HOA’s
- 106 luxury homes had Pools
- 58 luxury homes were on Septic Systems
- 181 luxury homes that sold were located in Travis County
- 2 luxury homes that sold were located in Williamson County
- 12 luxury home that sold was located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2020
July 2020 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 2020 Austin area luxury home sales below. The most expensive luxury home that sold in July 2020 sold for $7,550,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,331 sqft – 18,955 sqft with an average size of 4,139 sqft. The average price per square foot for a luxury home that sold in Austin in July 2020 was $420.68 with the lowest being $167.12/sqft and the highest being $1,042.82/sqft. It took, on average, 53 days to sell a luxury home in Austin and sellers received, on average, 95.25% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 2 | 1,331 | $950,000 | $190.88 | $1,000,000 | $167.12 | 37.50% | 37.50% | 0 |
| Max | 7 | 13 | 18,955 | $7,995,000 | $1,104.28 | $7,550,000 | $1,042.82 | 113.60% | 113.60% | 508 |
| Avg | 4 | 5 | 4,139 | $1,746,706 | $435.75 | $1,679,218 | $420.68 | 96.79% | 95.25% | 53 |
| Med | 4 | 4 | 3,995 | $1,375,000 | $405.76 | $1,334,044 | $394.33 | 97.55% | 96.44% | 25 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | July 2020 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 195 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 512 luxury homes currently for sale in the Austin area as of August 10, 2020. 439 are located in Travis County, 43 in Hays County and 30 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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