Eleven Oaks Realty is proud to present their July 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 July 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 Up 57%
In July 2021, there were 382 luxury homes introduced to the market compared to 243 in July 2020, marking a 57% (139 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 3% Increase
In July 2021, 236 luxury homes went pending in the Austin area compared to 229 in July 2020, marking a 3% (7 home) increase in year over year numbers. The Austin luxury market remains strong.
61% Increase in the Number of Luxury Home Sales in Austin
In July 2021, 320 luxury homes sold compared to 199 luxury homes in July 2020, marking a 61% (121 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 28%
In July 2021, there was 1.9 months of inventory on the Austin luxury real estate market compared to 2.6 months in July 2020, a 28% (0.7 month) decrease in year over year numbers. We have never seen inventory levels this low in the Austin luxury market.
Time to Sell Luxury Home in Austin Saw a 69% Decrease
In July 2021, it took 19 days to sell a luxury home in Austin, on average, compared to 59 days in July 2020, marking a 69% (41 day) decrease in year over year numbers. The median days to sell is 6, 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 $3,650 Decrease
This month, the median home sale price of a luxury home in the Austin area saw a $3,650 decrease in year over year numbers. The median home price in July 2021, when you consider homes that sold for $1 million or more, was $1,322,500 compared to $1,326,150 in July 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.
17% Decrease in the Number of Homes on the Luxury Market
In July 2021, there were 744 luxury homes for sale in the Austin area, compared to 898 in July 2020, marking a 17% (154 home) decrease in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 7% Decrease
In July 2021 there were 70 luxury homes taken off the market compared to 75 in July 2020, showing a 7% (5 home) decrease in year over year numbers.
Luxury Supply Down 17% – Luxury Demand Up 61%
This month we saw a 17% decrease in luxury housing supply (number of properties for sale) and a 61% increase in luxury demand (number of sold properties).
Median for Sale Price Down 9% – Median Sold Price Down $3,650
In the Austin area, we saw a 9% ($150,000) decrease in median for sale price of a luxury home, while the median sold price of a luxury home saw a $3,650 decrease in year over year numbers. The median for sale price of a luxury home was $1,500,000 in July 2021 compared to $1,650,000 in July 2020 marking a 9% decrease in year over year numbers. The median sold price of a luxury home was $1,322,500 in July 2021 and $1,326,150 in July 2020, showing a $3,650 decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
July 2021 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in July 2021 were west of 130 (with the exception of 2), south of 29 (with the exception of 11), and north of 150 (with the exception of 4). Here is a map of the 320 Austin luxury homes that sold in July 2021.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2021
More Data on Austin Luxury Home Sales July 2021
Here is some additional data on the 320 luxury homes that sold in Travis, Williamson and Hays Counties in July 2021. These 320 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 20 luxury homes were Waterfront
- 122 luxury homes were in the Austin ISD
- 19 luxury homes were in the Dripping Springs ISD
- 28 luxury homes were in the Eanes ISD
- 9 luxury homes were in the Georgetown ISD
- 2 luxury homes were in the Hays ISD
- 46 luxury homes were in the Lake Travis ISD
- 44 luxury homes were in the Leander ISD
- 31 luxury homes were in the Round Rock ISD
- 1 luxury home was in the San Marcos ISD
- 3 luxury homes were in the Wimberley ISD
- 37 luxury homes were in Gated Communities
- 174 luxury homes were in HOA’s
- 137 luxury homes had Pools
- 96 luxury homes were on Septic Systems
- 257 luxury homes that sold were located in Travis County
- 36 luxury homes that sold were located in Williamson County
- 27 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2021
July 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 July 2021 Austin area luxury home sales below. The most expensive luxury home that sold in July 2021 sold for $9,500,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,116 sqft – 12,205sqft with an average size of 3,585 sqft. The average price per square foot for a luxury home that sold in Austin in July 2021 was $490.12 with the lowest being $201.43/sqft and the highest being $2,707.79/sqft. It took, on average, 17 days to sell a luxury home in Austin and sellers received, on average, 107.12% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 1 | 1 | 1,116 | $789,900 | $200.71 | $1,000,000 | $201.43 | 80% | 74% | 0 |
| Max | 7 | 10 | 12,206 | $9,250,000 | $2,687.14 | $9,500,000 | $2,707.79 | 168% | 168% | 279 |
| Avg | 4 | 4 | 3,585 | $1,530,800 | $458.85 | $1,615,630 | $490.12 | 107.53% | 107.12% | 17 |
| Med | 4 | 4 | 3,474 | $1,250,000 | $392.06 | $1,322,500 | $414.00 | 106% | 107% | 6 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | July 2021 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 320 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 403 luxury homes currently for sale in the Austin area as of August 10, 2021. 293 are located in Travis County, 59 in Hays County and 49 in Williamson County.
What is Your Austin Luxury Home Worth?
Our Market Snapshot 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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