Eleven Oaks Realty is proud to present their March Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. Our March 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 16%
In March 2020, there were 229 luxury homes introduced to the market compared to 198 in March 2019, marking a 16% (31 home) increase in year over year numbers. We continue to see a confidence in the luxury market, despite the coronavirus situation.
Austin Luxury Homes Under Contract Saw a 10% Decrease
In March 2020, 81 luxury homes went pending in the Austin area compared to 90 in March 2019, marking a 10% (9 home) decrease in year over year numbers.
12% Increase in the Number of Luxury Home Sales in Austin
In March 2020, 94 luxury homes sold compared to 84 luxury homes in March 2019, marking a 12% (10 home) increase in year over year numbers.
Austin Luxury Housing Inventory Up 11%
In March 2020, there was 7.5 months of inventory on the Austin luxury real estate market compared to 6.8 months in March 2019, an 11% (0.7 month) increase in year over year numbers.
Time to Sell Luxury Home in Austin Saw a 19% Decrease
In March 2020, it took 49 days to sell a luxury home in Austin, on average, compared to 61 days in March 2019, marking a 19% (12 day) decrease in year over year numbers.
Austin Median Luxury Home Price Saw a 5% Decrease
This month, the median home sale price of a luxury home in the Austin area saw a 5% ($63,750) decrease in year over year numbers. The median home price in March 2020, when you consider homes that sold for $1 million or more, was $1,343,750 compared to $1,407,500 in March 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.
8% Increase in the Number of Homes on the Luxury Market
In March 2020, there were 803 luxury homes for sale in the Austin area, compared to 744 in March 2019, marking an 8% (59 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 161% Increase
In March 2020 there were 115 luxury homes taken off the market compared to 44 in March 2019, showing a 161% (71 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 Up 8% – Luxury Demand Up 12%
This month we saw an 8% increase in luxury housing supply (number of properties for sale) and a 12% increase in luxury demand (number of sold properties).
Median for Sale Price Saw No Change – Median Sold Price Saw a 5% Decrease
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% decrease in year over year numbers. The median for sale price of a luxury home was $1,675,00 in March 2020 compared to $1,675,000 in March 2019 marking no change in year over year numbers. The median sold price of a luxury home was $1,343,750 in March 2020 and $1,407,500 in March 2019, showing a 5% ($63,750) decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
March 2020 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in March 2020 were west of 35 (with the exception of 1), south of 183, and north of 290 (with the exception of 1). Here is a map of the 96 Austin luxury homes that sold in March 2020.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in March 2020
More Data on Austin Luxury Home Sales March 2020
Here is some additional data on the 96 luxury homes that sold in Travis, Williamson and Hays Counties in March 2020. These 96 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 13 luxury homes were Waterfront
- 47 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 15 luxury homes were in the Eanes ISD
- 0 luxury homes were in the Georgetown ISD
- 0 luxury homes were in the Hays ISD
- 18 luxury homes were in the Lake Travis ISD
- 11 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
- 25 luxury homes were in Gated Communities
- 44 luxury homes were in HOA’s
- 50 luxury homes had Pools
- 30 luxury homes were on Septic Systems
- 95 luxury homes that sold were located in Travis County
- 0 luxury homes that sold were located in Williamson County
- 1 luxury home that sold was located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in March 2020
March 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 March 2020 Austin area luxury home sales below. The most expensive luxury home that sold in March 2020 sold for $4,625,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,360 sqft – 7,864 sqft with an average size of 4,077 sqft. The average price per square foot for a luxury home that sold in Austin in March 2020 was $420.23 with the lowest being $179.070/sqft and the highest being $1,390.98/sqft. It took, on average, 76 days to sell a luxury home in Austin and sellers received, on average, 94.56% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 2 | 1,360 | $899,000 | $183.05 | $1,000,000 | $179.07 | 75.93% | 60.47% | 0 |
| Max | 8 | 8 | 7,864 | $4,895,000 | $1,472.18 | $4,625,000 | $1,390.98 | 114.67% | 114.67% | 301 |
| Avg | 4 | 4 | 4,077 | $1,662,846 | $434.54 | $1,604,684 | $420.23 | 96.91% | 94.56% | 77 |
| Med | 4 | 4 | 3,892 | $1,343,750 | $402.71 | $1,343,750 | $391.87 | 96.84% | 95.24% | 34 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Mar 20 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 96 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 487 luxury homes currently for sale in the Austin area as of May 7, 2020.
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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