Eleven Oaks Realty is proud to present their October 2018 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 2018 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 October 2018, there were 109 luxury homes introduced to the market compared to 94 in October 2017, marking a 16% (15 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Up 13%
In October 2018, 68 luxury homes went pending in the Austin area compared to 60 in October 2017, marking a 13% (8 home) increase in year over year numbers.
4% Decrease in the Number of Luxury Home Sales in Austin
In October 2018, 68 luxury homes sold compared to 71 luxury homes in October 2017, marking a 4% (3 home) decrease in year over year numbers.
Austin Luxury Housing Inventory Down 14%
In October 2018, there was 9.3 months of inventory on the Austin luxury real estate market compared to 10.9 months in October 2017 – a 14% decrease in year over year numbers. This fall we are seeing the opposite trend of what we’re used to in an inventory decrease from August. It will be interesting to see if this lasts through the historically slower winter months.
Time to Sell Luxury Home in Austin Up 19%
In October 2018, it took 116 days to sell a luxury home in Austin, on average, compared to 98 days in October 2017, marking a 19% (18 day) increase in year over year numbers.
Austin Median Luxury Home Price Saw No Change
This month, the median home sale price of a luxury home in the Austin area saw essentially no change. The median home price in October 2018, when you consider homes that sold for $1 million or more, was $1,327,500 compared to $1,325,000 in October 2017.
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.
1% More Homes on the Luxury Market
In October 2018, there were 802 luxury homes for sale in the Austin area, compared to 794 in October 2017, marking a 1% increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Up 21%
In October 2018 there were 99 luxury homes taken off the market compared to 82 in October 2017, showing a 21% (17 home) increase in year over year numbers. This is the first month of the last three that we’ve seen an increase in the number of luxury homes taken off the market.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Up 1% – Luxury Demand Down 4%
This month we saw a 1% increase in luxury housing supply (number of properties for sale) and a 4% decrease in luxury demand (number of sold properties).
Median for Sale Saw No Change – Median Sold Price Saw No Change
In the Austin area, we saw no change in median for sale price of a luxury home, while the median sold price of a luxury home also saw no change in year over year numbers. The median for sale price of a luxury home was $1,599,495 in October 2018 compared to $1,595,000 in October 2017 marking a $495 increase in year over year numbers. The median sold price of a luxury home was $1,327,500 in October 2018 and $1,325,000 October 2017, showing a $2,500 increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
October 2018 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in October 2018 were west of 35, south of 183 and north of 290 (with the exception of 1). Here is a map of the 69 Austin luxury homes that sold in October 2018.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2018
More Data on Austin Luxury Home Sales October 2018
Here is some additional data on the 69 luxury homes that sold in Travis, Williamson and Hays Counties in October 2018. These 69 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 7 luxury homes were Waterfront
- 40 luxury homes were in the Austin ISD
- 2 luxury homes were in the Dripping Springs ISD
- 9 luxury homes were in the Eanes ISD
- 0 luxury homes were in the Hays ISD
- 8 luxury homes were in the Lake Travis ISD
- 7 luxury homes were in the Leander ISD
- 2 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 0 luxury homes were in the Wimberley ISD
- 17 luxury homes were in Gated Communities
- 38 luxury homes were in HOA’s
- 39 luxury homes had Pools
- 17 luxury homes were on Septic Systems
- 67 luxury homes that sold were located in Travis County
- 0 luxury homes that sold were located in Williamson County
- 2 luxury homes that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2018
Luxury Homes for Sale Around Austin
Here is a map view of the 494 luxury homes currently for sale in the Austin area as of November 27, 2018. 434 are located in Travis County, 16 are located in Williamson County and 44 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
October 2018 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 2018 Austin area luxury home sales below. The most expensive luxury home that sold in October 2018 sold for $3,450,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,975 sqft – 7,277 sqft with an average size of 4,219 sqft. The average price per square foot for a luxury home that sold in Austin in October 2018 was $364.93 with the lowest being $210.81 /sqft and the highest being $640.95/sqft. It took, on average, 103 days to sell a luxury home in Austin and sellers received, on average, 92.04% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 2 | 1,975 | $998,000 | $224.38 | $1,000,000 | $210.81 | 87.03% | 73.64% | 0 |
| Max | 6 | 7 | 7,277 | $3,450,000 | $694.65 | $3,450,000 | $640.95 | 108.80% | 108.80% | 752 |
| Avg | 4 | 5 | 4,219 | $1,540,868 | $381.01 | $1,472,200 | $364.93 | 95.74% | 92.04% | 103 |
| Median | 4 | 4 | 4,055 | $1,395,000 | $337.98 | $1,325,000 | $330.57 | 96.29% | 93.02% | 51 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Oct-18 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 69 |
| 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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