Eleven Oaks Realty is proud to present their October 2019 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. Our October 2019 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 22%
In October 2019, there were 133 luxury homes introduced to the market compared to 108 in October 2018, marking a 22% (24 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Up 14%
In October 2019, 74 luxury homes went pending in the Austin area compared to 65 in October 2018, marking a 14% (9 home) increase in year over year numbers.
12% Increase in the Number of Luxury Home Sales in Austin
In October 2019, 76 luxury homes sold compared to 68 luxury homes in October 2018, marking a 12% (8 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 12%
In October 2019, there was 8.5 months of inventory on the Austin luxury real estate market compared to 9.7 months in October 2018 – a 12% decrease in year over year numbers.
Time to Sell Luxury Home in Austin Down 9%
In October 2019, it took 103 days to sell a luxury home in Austin, on average, compared to 112 days in October 2018, marking a 9% (10 day) decrease in year over year numbers. The luxury market saw a rapid increase in time to sell from last month’s figures. With an increase in demand and essentially no change in supply, motivated buyers who wanted to buy had to settle for the inventory that had been on the market for some time.
Austin Median Luxury Home Price Saw a 4% Increase
This month, the median home sale price of a luxury home in the Austin area saw a 4% ($47,500) increase in year over year numbers. The median home price in October 2019, when you consider homes that sold for $1 million or more, was $1,375,000 compared to $1,327,500 in October 2018.
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% Increase in the Number of Homes on the Luxury Market
In October 2019, there were 798 luxury homes for sale in the Austin area, compared to 788 in October 2018, marking a 1% (10 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Up 2%
In October 2019 there were 94 luxury homes taken off the market compared to 92 in October 2018, showing a 2% (2 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 Up 1% – Luxury Demand Up 12%
This month we saw a 1% increase in luxury housing supply (number of properties for sale) and a 12% increase in luxury demand (number of sold properties).
Median for Sale Price Saw a 4% Increase – Median Sold Price Saw a 4% Increase
In the Austin area, we saw a 4% increase in median for sale price of a luxury home, while the median sold price of a luxury home saw a 4% increase in year over year numbers. The median for sale price of a luxury home was $1,675,00 in October 2019 compared to $1,607,500 in October 2018 marking a 4% ($67,500) increase in year over year numbers. The median sold price of a luxury home was $1,375,000 in October 2019 and $1,327,500 in October 2018, showing a 4% ($47,500) increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
October 2019 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in October 2019 were west of 35 (with the exception of 1), south of 183 (with the exception of 1) and north of 290. Here is a map of the 77 Austin luxury homes that sold in October 2019.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2019
More Data on Austin Luxury Home Sales October 2019
Here is some additional data on the 77 luxury homes that sold in Travis, Williamson and Hays Counties in October 2019. These 77 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 5 luxury homes were Waterfront
- 38 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 20 luxury homes were in the Eanes ISD
- 0 luxury homes were in the Georgetown ISD
- 0 luxury homes were in the Hays ISD
- 9 luxury homes were in the Lake Travis ISD
- 5 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the Wimberley ISD
- 24 luxury homes were in Gated Communities
- 45 luxury homes were in HOA’s
- 43 luxury homes had Pools
- 20 luxury homes were on Septic Systems
- 76 luxury homes that sold were located in Travis County
- 1 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 October 2019
October 2019 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 2019 Austin area luxury home sales below. The most expensive luxury home that sold in October 2019 sold for $7,125,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 964 sqft – 9,593 sqft with an average size of 4,173 sqft. The average price per square foot for a luxury home that sold in Austin in October 2019 was $448.22 with the lowest being $162.22/sqft and the highest being $3,996.07/sqft. It took, on average, 70 days to sell a luxury home in Austin and sellers received, on average, 92.12% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 1 | 964 | $967,900 | $176.33 | $1,000,000 | $162.22 | 77.19% | 69.05% | 2 |
| Max | 6 | 8 | 9,593 | $7,995,000 | $4,484.02 | $7,125,000 | $3,996.07 | 104.25% | 104.25% | 495 |
| Avg | 4 | 4 | 4,173 | $1,682,264 | $472.21 | $1,591,328 | $448.22 | 95.32% | 92.12% | 70 |
| Med | 4 | 4 | 4,166 | $1,425,000 | $392.67 | $1,375,000 | $375.43 | 96.08% | 92.71% | 47 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Oct-19 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 77 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
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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