Eleven Oaks Realty is proud to present their May 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 May 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 67%
In May 2022, there were 692 luxury homes introduced to the market compared to 414 in May 2021, marking a 67% (278 home) increase in year over year numbers. It seems luxury sellers aren’t phased by the uptick in interest rates.
Austin Luxury Homes Under Contract Saw a 6% Increase
In May 2022, 386 luxury homes went pending in the Austin area compared to 363 in May 2021, marking a 6% (23 home) increase in year over year numbers.
32% Increase in the Number of Luxury Home Sales in Austin
In May 2022, 417 luxury homes sold compared to 317 luxury homes in May 2021, marking a 32% (100 home) increase in year over year numbers.
Austin Luxury Housing Inventory Up 123%
In May 2022, there was 2.0 month of inventory on the Austin luxury real estate market compared to 0.9 months in May 2021 marking a 123% (1.1 month) increase in year over year numbers. Though an increase from last year, still a very lean Austin luxury real estate market comparatively speaking.
Time to Sell Luxury Home in Austin Saw a 17% Increase
In May 2022, it took 16 days to sell a luxury home in Austin, on average, compared to 14 days in May 2021, marking a 17% (2 day) increase 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 3% Decrease
This month, the median home sale price of a luxury home in the Austin area saw a 3% decrease in year over year numbers. The median home price in May 2022, when you consider homes that sold for $1 million or more, was $1,335,000 compared to $1,375,000 in May 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.
70% Increase in the Number of Homes on the Luxury Market
In May 2022, there were 1,251 luxury homes for sale in the Austin area, compared to 736 in May 2021, marking a 70% (515 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 92% Increase
In May 2022 there were 77 luxury homes taken off the market compared to 40 in May 2021, showing a 92% (37 home) increase in year over year numbers.
Luxury Supply Up 70% – Luxury Demand Up 32%
This month we saw a 70% increase in luxury housing supply (number of properties for sale) and a 32% increase in luxury demand (number of sold properties).
Median for Sale Price Saw a 5% Increase – Median Sold Price Down 3%
In the Austin area, we saw a 5% ($71,250) increase in median for sale price of a luxury home, while the median sold price of a luxury home saw a 3% ($40,000) decrease in year over year numbers. The median for sale price of a luxury home was $1,490,000 in May 2022 compared to $1,418,750 in May 2021 marking a 5% increase in year over year numbers. The median sold price of a luxury home was $1,335,000 in May 2022 and $1,375,000 in May 2021, showing a 3% decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
May 2022 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in May 2022 were west of 130 (with the exception of 5), south of 29 (with the exception of 17), and north of 150 (with the exception of 6). Here is a map of the 418 Austin luxury homes that sold in May 2022.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in May 2022
More Data on Austin Luxury Home Sales May 2022
Here is some additional data on the 418 luxury homes that sold in Travis, Williamson and Hays Counties in May 2022. These 418 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 12 luxury homes were Waterfront
- 166 luxury homes were in the Austin ISD
- 28 luxury homes were in the Dripping Springs ISD
- 23 luxury homes were in the Eanes ISD
- 12 luxury homes were in the Georgetown ISD
- 4 luxury homes were in the Hays ISD
- 62 luxury homes were in the Lake Travis ISD
- 66 luxury homes were in the Leander ISD
- 25 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 8 luxury homes were in the Wimberley ISD
- 46 luxury homes were in Gated Communities
- 250 luxury homes were in HOA’s
- 152 luxury homes had Pools
- 104 luxury homes were on Septic Systems
- 322 luxury homes that sold were located in Travis County
- 49 luxury homes that sold were located in Williamson County
- 47 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in May 2022
May 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 May 2022 Austin area luxury home sales below. The most expensive luxury home that sold in May 2022 sold for $12,250,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 722 sqft – 8,048 sqft with an average size of 3,210 sqft. The average price per square foot for a luxury home that sold in Austin in May 2022 was $531.56 with the lowest being $223.63/sqft and the highest being $2,500/sqft. It took, on average, 15 days to sell a luxury home in Austin and sellers received, on average, 104.71% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 1 | 722 | $785,000 | $223.14 | $1,000,000 | $223.63 | 81% | 71% | 0 |
| Max | 7 | 8 | 8,048 | $13,000,000 | $2,694.17 | $12,250,000 | $2,500 | 160% | 160% | 261 |
| Avg | 4 | 4 | 3,210 | $1,521,322 | $507.05 | $1,576,921 | $531.56 | 105.59% | 104.71% | 15 |
| Med | 4 | 4 | 3,200 | $1,295,000 | $429.47 | $1,335,000 | $442.16 | 103% | 103% | 6 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | May 2022 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 418 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 869 luxury homes currently for sale in the Austin area as of June 6, 2022. 602 are located in Travis County, 119 in Hays County and 149 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 May 2022 Austin Luxury Real Estate Price Report?
Do you have questions about the May 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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