Eleven Oaks Realty is proud to present their July 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 July 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 47%
In July 2022, there were 606 luxury homes introduced to the market compared to 412 in July 2021, marking a 47% (194 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 3% Decrease
In July 2022, 247 luxury homes went pending in the Austin area compared to 255 in July 2021, marking a 3% (8 home) decrease in year over year numbers.
18% Decrease in the Number of Luxury Home Sales in Austin
In July 2022, 266 luxury homes sold compared to 326 luxury homes in July 2021, marking an 18% (60 home) decrease in year over year numbers.
Austin Luxury Housing Inventory Up 173%
In July 2022, there was 5.1 months of inventory on the Austin luxury real estate market compared to 1.9 months in July 2021 marking a 173% (3.3 month) increase in year over year numbers. Again we are trending towards a buyer’s market, which should be welcome news for luxury buyers.
Time to Sell Luxury Home in Austin Saw a 100% Increase
In July 2022, it took 32 days to sell a luxury home in Austin, on average, compared to 16 days in July 2021, marking a 100% (16 day) increase in year over year numbers. The median days to sell is 11, which is much 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 6 days.
Austin Median Luxury Home Price Saw a 1% Increase
This month, the median home sale price of a luxury home in the Austin area saw a 1% increase in year over year numbers. The median home price in July 2022, when you consider homes that sold for $1 million or more, was $1,337,500 compared to $1,322,000 in July 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.
112% Increase in the Number of Homes on the Luxury Market
In July 2022, there were 1,693 luxury homes for sale in the Austin area, compared to 797 in July 2021, marking a 112% (896 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 184% Increase
In July 2022 there were 176 luxury homes taken off the market compared to 62 in July 2021, showing a 184% (114 home) increase in year over year numbers.
Luxury Supply Up 112% – Luxury Demand Down 18%
This month we saw a 112% increase in luxury housing supply (number of properties for sale) and an 18% increase in luxury demand (number of sold properties).
Median for Sale Price Saw a 1% Decrease – Median Sold Price Up 1%
In the Austin area, we saw a 1% ($9,000) decrease in median for sale price of a luxury home, while the median sold price of a luxury home saw a 1% ($15,000) increase in year over year numbers. The median for sale price of a luxury home was $1,490,000 in July 2022 compared to $1,499,000 in July 2021 marking a 1% decrease in year over year numbers. The median sold price of a luxury home was $1,337,500 in July 2022 and $1,322,500 in July 2021, showing a 1% increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
July 2022 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in July 2022 were west of 130 (with the exception of 2), south of 138 (with the exception of 2), and north of 150 (with the exception of 2). Here is a map of the 293 Austin luxury homes that sold in July 2022.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2022
More Data on Austin Luxury Home Sales July 2022
Here is some additional data on the 266 luxury homes that sold in Travis, Williamson and Hays Counties in July 2022. These 266 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 6 luxury homes were Waterfront
- 102 luxury homes were in the Austin ISD
- 21 luxury homes were in the Dripping Springs ISD
- 24 luxury homes were in the Eanes ISD
- 6 luxury homes were in the Georgetown ISD
- 8 luxury homes were in the Hays ISD
- 36 luxury homes were in the Lake Travis ISD
- 32 luxury homes were in the Leander ISD
- 18 luxury homes were in the Round Rock ISD
- 1 luxury home was in the San Marcos ISD
- 0 luxury homes were in the Wimberley ISD
- 40 luxury homes were in Gated Communities
- 155 luxury homes were in HOA’s
- 115 luxury homes had Pools
- 65 luxury homes were on Septic Systems
- 205 luxury homes that sold were located in Travis County
- 31 luxury homes that sold were located in Williamson County
- 30 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2022
July 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 July 2022 Austin area luxury home sales below. The most expensive luxury home that sold in July 2022 sold for $7,484,456 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 728 sqft – 15,266 sqft with an average size of 3,425 sqft. The average price per square foot for a luxury home that sold in Austin in July 2022 was $503.70 with the lowest being $222.26/sqft and the highest being $2,223.19/sqft. It took, on average, 20 days to sell a luxury home in Austin and sellers received, on average, 97.5% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 1 | 728 | $900,000 | $210.27 | $1,000,000 | $222.26 | 83% | 57% | 0 |
| Max | 8 | 11 | 15,266 | $8,950,000 | $2,331 | $7,484,456 | $2,223.19 | 124% | 124% | 201 |
| Avg | 4 | 4 | 3,425 | $1,641,186 | $507.54 | $1,620,284 | $503.70 | 99.77% | 97.50% | 20 |
| Med | 4 | 4 | 3,398 | $1,392,500 | $453.20 | $1,340,000 | $447.32 | 100% | 98% | 11 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | July 2022 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 266 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 1,282 luxury homes currently for sale in the Austin area as of August 8, 2022. 905 are located in Travis County, 172 in Hays County and 205 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 July 2022 Austin Luxury Real Estate Price Report?
Do you have questions about the July 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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