Eleven Oaks Realty is proud to present their March 2018 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The March 2018 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 Down 2%
In March 2018, there were 230 luxury homes introduced to the market compared to 234 in March 2017, marking a 2% (4 home) decrease in year over year numbers.
Austin Luxury Homes Under Contract Up 26%
In March 2018, 97 luxury homes went pending in the Austin area compared to 77 in March 2017, marking a 26% (20 home) increase in year over year numbers.
25% Increase in the Number of Luxury Home Sales in Austin
In March 2018, 84 luxury homes sold compared to 67 luxury homes in March 2017, marking a 25% increase in year over year numbers.
Austin Luxury Housing Inventory Down 18%
In March 2018, there was 7.3 months of inventory on the Austin luxury real estate market compared to 8.9 months in March 2017 – an 18% decrease in year over year numbers. The luxury housing market is at some of the lowest inventory level we’ve seen in the past year.
Time to Sell Luxury Home in Austin Up 4%
In March 2018, it took 88 days to sell a luxury home in Austin, on average, compared to 85 days in March 2017, marking a 4% increase in year over year numbers.
Austin Median Luxury Home Price Down 1%
This month, the median home sale price of a luxury home in the Austin area was down 1%. The median home price in March 2018, when you consider homes that sold for $1 million or more, was $1,381,854 compared to $1,399,000 in March 2017.
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.
4% More Homes on the Luxury Market
In March 2018, there were 851 luxury homes for sale in the Austin area, compared to 815 in March 2017, marking a 4% increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Down 15%
In March 2018 there were 44 luxury homes taken off the market compared to 52 in March 2017, showing a 15% (8 home) decrease in year over year numbers.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Up 4% – Luxury Demand Up 25%
This month we saw a 4% increase in luxury housing supply (number of properties for sale) and a corresponding 25% increase in luxury demand (number of sold properties). The market is beginning to pick up for spring.
Median for Sale Price Down 3% – Median Sold Price Down 1%
In the Austin area, we saw a 3% decrease in median for sale price of a luxury home, while the median sold price of a luxury home was down 1% in year over year numbers. The median for sale price of a luxury home was $1,599,000 in March 2018 compared to $1,650,000 in March 2017 marking an $51,000 decrease in year over year numbers. The median sold price of a luxury home was $1,381,854 in March 2018 and $1,399,000 March 2017, showing a 1% decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
March 2018 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in March 2018 were west of 35, south of 183 (with the exception of 1) and north of 290. Here is a map of the 83 Austin luxury homes that sold in March 2018.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in March 2018
More Data on Austin Luxury Home Sales March 2018
Here is some additional data on the 83 luxury homes that sold in Travis, Williamson and Hays Counties in March 2018. These 83 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 10 luxury homes were Waterfront
- 32 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 19 luxury homes were in the Eanes ISD
- 0 luxury home was in the Hays ISD
- 20 luxury homes were in the Lake Travis ISD
- 8 luxury homes were in the Leander ISD
- 1 luxury homes were in the Round Rock ISD
- 1 luxury homes were in the Wimberley ISD
- 27 luxury homes were in Gated Communities
- 52 luxury homes were in HOA’s
- 50 luxury homes had Pools
- 30 luxury homes were on Septic Systems
- 81 luxury homes that sold were located in Travis County
- 1 luxury home that sold was located in Williamson County
- 1 luxury homes that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in March 2018
Luxury Homes for Sale Around Austin
Here is a map view of the 594 luxury homes currently for sale in the Austin area as of April 13, 2018. 527 are located in Travis County, 15 are located in Williamson County and 52 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
March 2018 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for March 2018 Austin area luxury home sales below. The most expensive luxury home that sold in March 2018 sold for $12,300,000 and the least expensive luxury home sold for $1,005,000. Austin luxury homes ranged in size from 2,038 sqft – 10,206 sqft with an average size of 4,762 sqft. The average price per square foot for a luxury home that sold in Austin in March 2018 was $378.44 with the lowest being $175.39/sqft and the highest being $1,605.12/sqft. It took, on average, 115 days to sell a luxury home in Austin and sellers received, on average, 91.99% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 2 | 2,038 | $999,900 | $175.39 | $1,005,000 | $175.39 | 81.82% | 60.50% | 0 |
| Max | 9 | 12 | 10,206 | $12,950,000 | $1,689.94 | $12,300,000 | $1,605.12 | 108.70% | 108.70% | 545 |
| Avg | 5 | 5 | 4,762 | $1,861,753 | $395.86 | $1,762,785 | $378.44 | 95.55% | 91.99% | 115 |
| Median | 5 | 5 | 4,562 | $1,430,000 | $355.57 | $1,370,000 | $338.16 | 96.49% | 92.89% | 72 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Mar-18 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 83 |
| 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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