Eleven Oaks Realty is proud to present their May 2024 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 2024 Austin Luxury Real Estate Price Report covers the luxury market in the following Austin metro area counties: Travis, Williamson and Hays.
5.1% Decrease in Median Sold Price
In May 2024, the median sold price of a luxury home in Austin was $1,330,000 compared to $1,397,839 in May 2023 showing a 5.1% decrease in year over year numbers. Last month the median sold price for a luxury home in Austin was $1,350,000 showing a 1.48% decrease in month over month comparisons.
3.9% Decrease in Number of Austin Luxury Home Sales
In May 2024, there were 283 luxury homes that sold in the Austin area compared to 294 in May 2023, showing a 3.9% decrease in year over year comparisons. Last month there were 267 luxury homes that closed in Austin showing a 5.7% increase in month over month comparisons.
16.4% Increase in Time to Sell an Austin Luxury Home
In May 2024 it took, on average, 55 days to sell a luxury home in Austin compared to 46 days in May 2023 showing a 16.4% increase in year over year comparisons. Last month it took, on average, 57 days to sell an Austin luxury home showing a 3.6% decrease in month over month comparisons.
Austin Luxury Home Sales May 2024
Here is some additional data on the 283 luxury homes that sold in Travis, Williamson and Hays Counties in May 2024. These 283 homes sold for $1 million or more.
- 2 luxury homes that sold were Foreclosures (Bank Owned)
- 7 luxury homes were Waterfront
- 124 luxury homes were in the Austin ISD
- 23 luxury homes were in the Dripping Springs ISD
- 25 luxury homes were in the Eanes ISD
- 8 luxury homes were in the Georgetown ISD
- 3 luxury homes were in the Hays ISD
- 38 luxury homes were in the Lake Travis ISD
- 37 luxury homes were in the Leander ISD
- 8 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 3 luxury homes were in the Wimberley ISD
- 39 luxury homes were in Gated Communities
- 143 luxury homes were in HOA’s
- 133 luxury homes had Pools
- 78 luxury homes were on Septic Systems
- 224 luxury homes that sold were located in Travis County
- 29 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 2024
May 2024 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in May 2024 were west of 130, south of 138 (with the exception of 1) and north of 150 (with the exception of 2). Here is a map of the 283 luxury homes that sold in Austin in May 2024.
May 2024 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 2024 Austin area luxury home sales below. The most expensive luxury home that sold in May 2024 sold for $7,500,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,333 sqft – 12,148 sqft with an average size of 3,602 sqft. The average price per square foot for a luxury home that sold in Austin in May 2024 was $480.67 with the lowest being $208.02/sqft and the highest being $1,328.66/sqft. It took, on average, 55 days to sell a luxury home in Austin and sellers received, on average, 93.07% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 1 | 1,333 | $945,000 | $230.44 | $1,000,000 | $208.02 | 80% | 68% | 0 |
| Max | 8 | 10 | 12,148 | $7,950,000 | $1,418.16 | $7,500,000 | $1,328.66 | 113% | 125% | 627 |
| Avg | 4 | 4 | 3,602 | $1,729,974 | $500.29 | $1,654,472 | $480.67 | 96.30% | 93.07% | 55 |
| Med | 4 | 4 | 3,400 | $1,390,000 | $454.79 | $1,325,000 | $435.50 | 96% | 95% | 24 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | May 2024 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 283 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map of the 1,846 luxury homes for sale in the Austin area as of June 19, 2024. 1,446 are located in Travis County, 191 in Williamson County and 209 in Hays County. Here is a map.
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 2024 Austin Luxury Real Estate Price Report?
Do you have questions about the May 2024 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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