Eleven Oaks Realty is proud to present their May 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 May 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 50%
In May 2021, there were 353 luxury homes introduced to the market compared to 236 in May 2020, marking a 50% (117 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 144% Increase
In May 2021, 308 luxury homes went pending in the Austin area compared to 126 in May 2020, marking a 144% (182 home) increase in year over year numbers. It seems we can’t keep enough inventory on the market. Despite more homes being listed, we are seeing big jumps in homes under contract.
314% Increase in the Number of Luxury Home Sales in Austin
In May 2021, 315 luxury homes sold compared to 76 luxury homes in May 2020, marking a 314% (239 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 83%
In May 2021, there was 0.9 months of inventory on the Austin luxury real estate market compared to 5.7 months in May 2020, a 83% (4.3 month) decrease in year over year numbers. The Austin luxury market took off in June of 2020 and has not looked back. We are continuing to see low levels of inventory, despite new listings coming online, showing just how much pent up demand there is.
Time to Sell Luxury Home in Austin Saw a 76% Decrease
In May 2021, it took 15 days to sell a luxury home in Austin, on average, compared to 63 days in May 2020, marking a 76% (48 day) decrease in year over year numbers. The median days to sell is 5, 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 1% Increase
This month, the median home sale price of a luxury home in the Austin area saw a 1% ($20,000) decrease in year over year numbers. The median home price in May 2021, when you consider homes that sold for $1 million or more, was $1,375,000 compared to $1,355,000 in May 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.
29% Decrease in the Number of Homes on the Luxury Market
In May 2021, there were 649 luxury homes for sale in the Austin area, compared to 911 in May 2020, marking a 29% (262 home) decrease in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 32% Decrease
In May 2021 there were 49 luxury homes taken off the market compared to 72 in May 2020, showing a 32% (23 home) decrease in year over year numbers.
Luxury Supply Down 29% – Luxury Demand Up 314%
This month we saw a 29% decrease in luxury housing supply (number of properties for sale) and a 314% increase in luxury demand (number of sold properties).
Median for Sale Price Down 9% – Median Sold Price Up 1%
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 1% ($20,000) increase in year over year numbers. The median for sale price of a luxury home was $1,500,000 in May 2021 compared to $1,650,000 in May 2020 marking a 9% decrease in year over year numbers. The median sold price of a luxury home was $1,375,000 in May 2021 and $1,355,000 in May2020, showing a 1% ($20,000) decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
May 2021 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in May 2021 were west of 130 (with the exception of 1), south of 29 (with the exception of 9), and north of 150 (with the exception of 2). Here is a map of the 315 Austin luxury homes that sold in May 2021.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in May 2021
More Data on Austin Luxury Home Sales May 2021
Here is some additional data on the 315 luxury homes that sold in Travis, Williamson and Hays Counties in May 2021. These 315 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 13 luxury homes were Waterfront
- 132 luxury homes were in the Austin ISD
- 22 luxury homes were in the Dripping Springs ISD
- 30 luxury homes were in the Eanes ISD
- 4 luxury homes were in the Georgetown ISD
- 2 luxury homes were in the Hays ISD
- 47 luxury homes were in the Lake Travis ISD
- 40 luxury homes were in the Leander ISD
- 22 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
- 52 luxury homes were in Gated Communities
- 195 luxury homes were in HOA’s
- 143 luxury homes had Pools
- 94 luxury homes were on Septic Systems
- 258 luxury homes that sold were located in Travis County
- 27 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 May 2021
May 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 May 2021 Austin area luxury home sales below. The most expensive luxury home that sold in May 2021 sold for $10,475,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 872 sqft – 12,555 sqft with an average size of 3,699 sqft. The average price per square foot for a luxury home that sold in Austin in May 2021 was $479.92 with the lowest being $158.54/sqft and the highest being $1,318.81/sqft. It took, on average, 2- days to sell a luxury home in Austin and sellers received, on average, 110.81% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 1 | 872 | $749,000 | $166.17 | $1,000,000 | $158.54 | 76% | 63% | 0 |
| Max | 8 | 10 | 12,555 | $10,995,000 | $1,376.15 | $10,475,000 | $1,318.81 | 155% | 165% | 628 |
| Avg | 4 | 4 | 3,699 | $1,556,597 | $442.06 | $1,664,926 | $479.92 | 110.43% | 110.81% | 19 |
| Med | 4 | 4 | 3,479 | $1,250,000 | $386.57 | $1,375,000 | $413.17 | 108% | 109% | 5 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | May 2021 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 315 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 328 luxury homes currently for sale in the Austin area as of June 17, 2021. 252 are located in Travis County, 39 in Hays County and 37 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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