Eleven Oaks Realty is proud to present their November 2017 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 2017 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 16%
In November 2017, there were 88 luxury homes introduced to the market compared to 76 in November 2016, marking a 16% (12 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Up 2%
In November 2017, 52 luxury homes went pending in the Austin area compared to 51 in November 2016, marking a 2% (1 home) increase in year over year numbers.
12% Increase in the Number of Luxury Home Sales in Austin
In November 2017, 58 luxury homes sold compared to 52 luxury homes in November 2016, marking a 12% increase in year over year numbers.
Austin Luxury Housing Inventory Up 11%
In November 2017, there was 12.5 months of inventory on the Austin luxury real estate market compared to 11.3 months in November 2016 – a 11% increase in year over year numbers. Inventory hit its lowest in May 2017 and since then has rebounded.
Time to Sell Luxury Home in Austin Up 6%
In November 2017, it took 141 days to sell a luxury home in Austin, on average, compared to 132 days in November 2016, marking a 6% increase in year over year numbers. As we head into winter, buyers can take more time to evaluate their options.
Austin Median Luxury Home Price Flat
This month, the median home sale price of a luxury home in the Austin area was virtually flat. The median home price in November 2017, when you consider homes that sold for $1 million or more, was $1,350,000 compared to $1,350,000 in November 2016.
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.
13% More Homes on the Luxury Market
In November 2017, there were 806 luxury homes for sale in the Austin area, compared to 714 in November 2016, marking an 13% increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Up 21%
In November 2017 there were 105 luxury homes taken off the market compared to 87 in November 2016, showing a 21% (18 home) increase in year over year numbers.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Up 13% – Luxury Demand Up 12%
This month we saw a 13% increase in luxury housing supply (number of properties for sale) and a 12% increase in luxury demand (number of sold properties). The market is fairly even this month.
Median for Sale Price and Median Sold Price – No Change
In the Austin area, we saw no change in both the median for sale price of a luxury home and the median sold price of a luxury home in year over year numbers. The median for sale price of a luxury home was $1,692,500 in November 2017 compared to $1,669,000 in November 2016 marking an $6,500 decrease in year over year numbers. The median sold price of a luxury home was $1,350,00 in November 2017 and November 2016, showing no change in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
November 2017 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in November 2017 were west of 35 , south of 183 (with the exception of 2) and north of 290. Here is a map of the 59 Austin luxury homes that sold in November 2017.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in November 2017
More Data on Austin Luxury Home Sales November 2017
Here is some additional data on the 59 luxury homes that sold in Travis, Williamson and Hays Counties in November 2017. These 59 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 7 luxury homes were Waterfront
- 22 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 13 luxury homes were in the Eanes ISD
- 0 luxury home was in the Hays ISD
- 12 luxury homes were in the Lake Travis ISD
- 10 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the Wimberley ISD
- 15 luxury homes were in Gated Communities
- 31 luxury homes were in HOA’s
- 29 luxury homes had Pools
- 18 luxury homes were on Septic Systems
- 57 luxury homes that sold were located in Travis County
- 2 luxury home that sold was 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 2017
Luxury Homes for Sale Around Austin
Here is a map view of the 539 luxury homes currently for sale in the Austin area as of December 13, 2017. 481 are located in Travis County, 18 are located in Williamson County and 40 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
November 2017 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 2017 Austin area luxury home sales below. The most expensive luxury home that sold in November 2017 sold for $3,775,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,902 sqft – 11,314 sqft with an average size of 4,535 sqft. The average price per square foot for a luxury home that sold in Austin in November 2017 was $358.13 with the lowest being $123.7/sqft and the highest being $655.09 /sqft. It took, on average, 113 days to sell a luxury home in Austin and sellers received, on average, 89.77% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 2 | 1,902 | $995,000 | $132.14 | $1,000,000 | $123.74 | 85.98% | 60.40% | 0 |
| Max | 8 | 10 | 11,314 | $3,999,000 | $671.23 | $3,775,000 | $655.09 | 100.50% | 100.50% | 595 |
| Avg | 4 | 5 | 4,535 | $1,593,925 | $375.00 | $1,514,200 | $358.13 | 95.41% | 89.77% | 113 |
| Median | 4 | 5 | 4,132 | $1,399,000 | $366.10 | $1,350,000 | $355.97 | 95.91% | 92.86% | 55 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Nov-17 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 59 |
| 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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