Eleven Oaks Realty is proud to present their November 2015 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The November 2015 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 39%
In November 2015, there were 79 luxury homes introduced to the market compared to 57 in November 2014, marking a 39% (22 home) increase in year over year numbers. Winter is typically a slower season for Austin luxury real estate. But, it appears this Winter more sellers are confident in their ability to get their homes sold over the Holiday.
Austin Luxury Homes Under Contract Up 66%
In November 2015, 53 luxury homes went pending in the Austin area compared to 32 in November 2014, marking a 66% increase in year over year numbers. This year, buyers aren’t taking their usual Holiday break.
81% Increase in the Number of Luxury Home Sales in Austin
In November 2015, 47 luxury homes sold compared to 26 luxury homes in November 2014, marking an 81% (21 home) increase in year over year numbers. This month we saw similar sales numbers to the typically busier Spring months. It will be interesting to see if we see an increase in sales come Spring or if luxury buyers are buying earlier this year.
Austin Luxury Housing Inventory Down 31%
In November 2015, there was 9.1 months of inventory on the Austin luxury real estate market compared to 13.1 months in November 2014. This marked a 31% decrease in year over year numbers. As predicted last month, the increase in pending and closed luxury home sales have caused inventory to dip yet again. Though we’re still in a buyer’s market, sellers have less competition than they did at this time last year.
Time to Sell Luxury Home in Austin Up 44%
In November 2015, it took 121 days to sell a luxury home in Austin, on average, compared to 84 days in November 2014, marking a 44% increase in year over year numbers. With 81% more sales than last year, buyers are scooping up inventory that’s been sitting on the market for some time, thus increasing the average time to sell.
Austin Median Luxury Home Price Down 19%
This month, we saw a 19% decrease in the median home sale price of a luxury home in the Austin area. The median home price in November 2015, when you consider homes that sold for $1 million or more, was $1,395,000 compared to $1,725,000 in November 2014.
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.
24% More Homes on the Luxury Market
In November 2015, there were 633 luxury homes for sale in the Austin area, compared to 510 in November 2014, marking a 24% increase in year over year numbers.
69% Increase in the Number of Luxury Homes Taken Off the Market
In November 2015 there were 100 luxury homes taken off the market compared to 59 in November 2014, showing a 69% (41 home) increase in year over year numbers. Just as we’ve had more luxury sales, we’ve had significantly more luxury home sellers give up on selling. For some, it might be they were overpriced and the seller decided to try again next year, rather than continuing to reduce the price.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Up 24% and Luxury Demand is Up 81%
This month we saw a 24% increase in luxury housing supply (number of properties for sale) and an 81% increase in luxury demand (number of sold properties).
Median for Sale Price Up 3% vs Median Sold Price Down 19%
In the Austin area, we saw a 3% increase in the median for sale price of a luxury home and a 19% decrease in the median sold price of a luxury home in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
November 2015 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in November 2015 were west of 35, south of 2222 (with the exception of 3) and north of 290 (with the exception of 1). Here is a map of the 47 Austin luxury homes that sold in November 2015.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in November 2015
More Data on Austin Luxury Home Sales November 2015
Here is some additional data on the 47 luxury homes that sold in Travis, Williamson and Hays Counties in November 2015. These 47 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 9 luxury homes were Waterfront
- 27 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 8 luxury homes were in the Eanes ISD
- 6 luxury homes were in the Lake Travis ISD
- 4 luxury homes were in the Leander ISD
- 1 luxury home was in the Round Rock ISD
- 0 luxury homes were in the Wimberley ISD
- 11 luxury homes were in Gated Communities
- 19 luxury homes were in HOA’s
- 25 luxury homes had Pools
- 14 luxury homes were on Septic Systems
- 45 luxury homes that sold were located in Travis County
- 2 luxury homes that sold were located in Williamson County
- 0 luxury homes that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in November 2015
Luxury Homes for Sale Around Austin
Here is a map view of the 459 luxury homes currently for sale in the Austin area as of December 14, 2015. 423 are located in Travis County, 7 are located in Williamson County and 29 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
November 2015 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for November 2015 Austin area luxury home sales below. The most expensive luxury home that sold in November 2015 sold for $4,375,000 and the least expensive luxury home sold for $1,023,500. Austin luxury homes ranged in size from 976 sqft – 6,717 sqft with an average size of 4,222 sqft. The average price per square foot for a luxury home that sold in Austin in November 2015 was $419.61 with the lowest being $193.54/sqft and the highest being $1,490.78/sqft. It took, on average, 97 days to sell a luxury home in Austin and sellers received, on average, 91.54% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 2 | 976 | $1,050,000 | $205.91 | $1,023,500 | $193.54 | 81.51% | 68.77% | 0 |
| Max | 6 | 8 | 6,717 | $4,750,000 | $1,536.87 | $4,375,000 | $1,490.78 | 105.16% | 105.16% | 376 |
| Avg | 4 | 5 | 4,222 | $1,721,325 | $442.39 | $1,626,496 | $419.61 | 94.70% | 91.54% | 97 |
| Median | 4 | 5 | 4,216 | $1,500,000 | $415.22 | $1,395,000 | $405.56 | 94.62% | 93.03% | 75 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | November 2015 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 47 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
What is Your Austin Luxury Home Worth?
The Austin Luxury Real Estate Market Report 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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