Eleven Oaks Realty is proud to present their October 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 October 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 28%
In October 2015, there were 106 luxury homes introduced to the market compared to 83 in October 2014, marking a 28% (23 home) increase in year over year numbers. Continuing with a trend we’ve seen most of the year, it seems luxury sellers are much more confident in their ability to get their homes sold than in previous years. Luxury buyers should be pleased as it will give them more choices.
Austin Luxury Homes Under Contract Up 65%
In October 2015, 56 luxury homes went pending in the Austin area compared to 34 in October 2014, marking a 65% increase in year over year numbers. Much of the increase in sales comes from luxury buyers who are relocating from other areas.
28% Increase in the Number of Luxury Home Sales in Austin
In October 2015, 55 luxury homes sold compared to 43 luxury homes in October 2014, marking a 28% (12 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 26%
In October 2015, there was 9.9 months of inventory on the Austin luxury real estate market compared to 13.3 months in October 2014. This marked a 26% decrease in year over year numbers. With a 65% increase in pending sales, we would expect inventory to decrease next month as well.
Time to Sell Luxury Home in Austin Down 30%
In October 2015, it took 106 days to sell a luxury home in Austin, on average, compared to 151 days in October 2014, marking a 30% decrease in year over year numbers.
Austin Median Luxury Home Price Up 11%
This month, we saw an 11% increase in the median home sale price of a luxury home in the Austin area. The median home price in October 2015, when you consider homes that sold for $1 million or more, was $1,439,000 compared to $1,300,000 in October 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.
25% More Homes on the Luxury Market
In October 2015, there were 684 luxury homes for sale in the Austin area, compared to 547 in October 2014, marking a 25% increase in year over year numbers. It seems luxury sellers are seeing the demand and decreased time to sell and are listing their homes for sale.
25% Increase in the Number of Luxury Homes Taken Off the Market
In October 2015 there were 75 luxury homes taken off the market compared to 60 in October 2014, showing a 25% 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 25% and Luxury Demand is Up 28%
This month we saw a 25% increase in luxury housing supply (number of properties for sale) and a 28% increase in luxury demand (number of sold properties).
Median for Sale Price Down 1% vs Median Sold Price Up 11%
In the Austin area, we saw a 1% decrease in the median for sale price of a luxury home and an 11% increase in the median sold price of a luxury home in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
October 2015 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in October 2015 were west of 35, south of 2222 (with the exception of 1) and north of 290. Here is a map of the 55 Austin luxury homes that sold in October 2015.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2015
More Data on Austin Luxury Home Sales October 2015
Here is some additional data on the 55 luxury homes that sold in Travis, Williamson and Hays Counties in October 2015. These 55 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 13 luxury homes were Waterfront
- 22 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 20 luxury homes were in the Eanes ISD
- 12 luxury homes were in the Lake Travis ISD
- 2 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
- 37 luxury homes had Pools
- 19 luxury homes were on Septic Systems
- 56 luxury homes that sold were located in Travis County
- 2 luxury homes that sold were located in Hays County
- 0 luxury homes that sold were located in Williamson County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2015
Luxury Homes for Sale Around Austin
Here is a map view of the 518 luxury homes currently for sale in the Austin area as of November 13, 2015. 477 are located in Travis County, 10 are located in Williamson County and 31 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
October 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 October 2015 Austin area luxury home sales below. The most expensive luxury home that sold in October 2015 sold for $6,500,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 2,694 sqft – 10,890 sqft with an average size of 4,714 sqft. The average price per square foot for a luxury home that sold in Austin in October 2015 was $369.44 with the lowest being $215.93/sqft and the highest being $714.53/sqft. It took, on average, 102 days to sell a luxury home in Austin and sellers received, on average, 92.06% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 3 | 2,694 | $1,049,500 | $221.19 | $1,000,000 | $215.93 | 80.93% | 58.49% | 0 |
| Max | 8 | 10 | 10,890 | $7,250,000 | $813.93 | $6,500,000 | $714.53 | 100% | 104.44% | 330 |
| Avg | 4 | 5 | 4,714 | $1,863,300 | $390.18 | $1,758,461 | $369.44 | 95.14% | 92.06% | 101 |
| Median | 4 | 5 | 4,619 | $1,497,450 | $356.72 | $1,432,000 | $346.06 | 95.85% | 94.38% | 74 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | October 2015 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 56 |
| 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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