Eleven Oaks Realty is proud to present their March 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 March 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 37%
In March 2021, there were 299 luxury homes introduced to the market compared to 218 in March 2020, marking a 37% (81 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 250% Increase
In March 2021, 280 luxury homes went pending in the Austin area compared to 80 in March 2020, marking a 250% (200 home) increase in year over year numbers. Luxury buyers are not holding back. There has been a lot of pent up demand in the market and this month is proof of that. We saw an increase in supply and buyers gobbled up the inventory just as fast as it was listed.
132% Increase in the Number of Luxury Home Sales in Austin
In March 2021, 227 luxury homes sold compared to 98 luxury homes in March 2020, marking a 132% (129 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 92%
In March 2021, there was 0.7 months of inventory on the Austin luxury real estate market compared to 8.2 months in March 2020, a 92% (7.5 month) decrease in year over year numbers. This is the lowest we’ve seen Austin luxury inventory in years, if not ever. The Austin luxury real estate market remains hot!
Time to Sell Luxury Home in Austin Saw a 22% Decrease
In March 2021, it took 34 days to sell a luxury home in Austin, on average, compared to 44 days in March 2020, marking a 22% (9 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 4% Increase
This month, the median home sale price of a luxury home in the Austin area saw a 4% ($50,200) increase in year over year numbers. The median home price in March 2021, when you consider homes that sold for $1 million or more, was $1,420,600 compared to $1,370,400 in March 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.
38% Decrease in the Number of Homes on the Luxury Market
In March 2021, there were 513 luxury homes for sale in the Austin area, compared to 821 in March 2020, marking a 38% (308 home) decrease in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 51% Decrease
In March 2021 there were 40 luxury homes taken off the market compared to 82 in March 2020, showing a 51% (42 home) decrease in year over year numbers.
Luxury Supply Down 38% – Luxury Demand Up 132%
This month we saw a 38% decrease in luxury housing supply (number of properties for sale) and a 132% increase in luxury demand (number of sold properties).
Median for Sale Price Down 8% – Median Sold Price Up 4%
In the Austin area, we saw an 8% ($135,000) decrease in median for sale price of a luxury home, while the median sold price of a luxury home saw a 4% ($50,200) increase in year over year numbers. The median for sale price of a luxury home was $1,500,000 in March 2021 compared to $1,635,000 in March 2020 marking an 8% decrease in year over year numbers. The median sold price of a luxury home was $1,420,600 in March 2021 and $1,370,400 in March 2020, showing a 4% ($50,200) increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
March 2021 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in March 2021 were west of 35 (with the exception of 12), south of 183 (with the exception of 11), and north of 290 (with the exception of 20). Here is a map of the 225 Austin luxury homes that sold in March 2021.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in March 2021
More Data on Austin Luxury Home Sales March 2021
Here is some additional data on the 225 luxury homes that sold in Travis, Williamson and Hays Counties in March 2021. These 225 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 21 luxury homes were Waterfront
- 86 luxury homes were in the Austin ISD
- 13 luxury homes were in the Dripping Springs ISD
- 39 luxury homes were in the Eanes ISD
- 5 luxury homes were in the Georgetown ISD
- 3 luxury homes were in the Hays ISD
- 34 luxury homes were in the Lake Travis ISD
- 22 luxury homes were in the Leander ISD
- 4 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
- 48 luxury homes were in Gated Communities
- 127 luxury homes were in HOA’s
- 105 luxury homes had Pools
- 76 luxury homes were on Septic Systems
- 189 luxury homes that sold were located in Travis County
- 14 luxury homes that sold were located in Williamson County
- 22 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in March 2021
March 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 March 2021 Austin area luxury home sales below. The most expensive luxury home that sold in March 2021 sold for $7,400,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,515 sqft – 13,630 sqft with an average size of 3,986 sqft. The average price per square foot for a luxury home that sold in Austin in March 2021 was $441.22 with the lowest being $142.50/sqft and the highest being $1,983.17/sqft. It took, on average, 45 days to sell a luxury home in Austin and sellers received, on average, 104.34% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 1 | 2 | 1,515 | $750,000 | $142.86 | $1,000,000 | $142.50 | 74% | 67% | 0 |
| Max | 7 | 11 | 13,630 | $7,000,000 | $1,983.17 | $7,400,000 | $1,983.17 | 142% | 142% | 617 |
| Avg | 4 | 4 | 3,986 | $1,782,769 | $461.75 | $1,810,695 | $476.55 | 104.71% | 104.34% | 45 |
| Med | 4 | 4 | 3,686 | $1,395,000 | $421.08 | $1,425,000 | $441.22 | 100% | 100% | 6 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | March 2021 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 225 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 162 luxury homes currently for sale in the Austin area as of April 14, 2021. 164 are located in Travis County, 23 in Hays County and 21 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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