Eleven Oaks Realty is proud to present their October 2021 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 2021 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 27%
In October 2021, there were 272 luxury homes introduced to the market compared to 214 in October 2020, marking a 27% (58 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 28% Increase
In October 2021, 235 luxury homes went pending in the Austin area compared to 183 in October 2020, marking a 28% (52 home) increase in year over year numbers.
2% Decrease in the Number of Luxury Home Sales in Austin
In October 2021, 188 luxury homes sold compared to 191 luxury homes in October 2020, marking a 2% (3 home) decrease in year over year numbers.
Austin Luxury Housing Inventory Down 22%
In October 2021, there was 1.9 months of inventory on the Austin luxury real estate market compared to 2.4 months in October 2020 marking a 22% (0.5 month) decrease in year over year numbers. Inventory levels continue to be at record low numbers for the Austin luxury market.
Time to Sell Luxury Home in Austin Saw a 46% Decrease
In October 2021, it took 29 days to sell a luxury home in Austin, on average, compared to 53 days in October 2020, marking a 46% (25 day) decrease in year over year numbers. The median days to sell is 6, which is much more representative of the actual time it takes to sell a luxury home after it is introduced to the market.
Austin Median Luxury Home Price Saw a 1% Increase
This month, the median home sale price of a luxury home in the Austin area saw a 1% increase in year over year numbers. The median home price in October 2021, when you consider homes that sold for $1 million or more, was $1,392,50 compared to $1,375,000 in October 2020.
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.
7% Increase in the Number of Homes on the Luxury Market
In October 2021, there were 744 luxury homes for sale in the Austin area, compared to 694 in October 2020, marking a 7% (50 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 6% Decrease
In October 2021 there were 62 luxury homes taken off the market compared to 66 in October 2020, showing a 6% (4 home) decrease in year over year numbers.
Luxury Supply Up 7% – Luxury Demand Down 2%
This month we saw a 7% increase in luxury housing supply (number of properties for sale) and a 2% decrease in luxury demand (number of sold properties).
Median for Sale Price Down 6% – Median Sold Price Up 1%
In the Austin area, we saw a 6% ($92,000) decrease in median for sale price of a luxury home, while the median sold price of a luxury home saw a 1% ($17,500) increase in year over year numbers. The median for sale price of a luxury home was $1,550,000 in October 2021 compared to $1,642,000 in October 2020 marking a 6% decrease in year over year numbers. The median sold price of a luxury home was $1,392,500 in October 2021 and $1,375,000 in October 2020, showing a 1% increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
October 2021 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in October 2021 were west of 130 (with the exception of 2), south of 29 (with the exception of 3), and north of 150 (with the exception of 3). Here is a map of the 188 Austin luxury homes that sold in October 2021.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2021
More Data on Austin Luxury Home Sales October 2021
Here is some additional data on the 188 luxury homes that sold in Travis, Williamson and Hays Counties in October 2021. These 188 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 7 luxury homes were Waterfront
- 84 luxury homes were in the Austin ISD
- 17 luxury homes were in the Dripping Springs ISD
- 14 luxury homes were in the Eanes ISD
- 2 luxury homes were in the Georgetown ISD
- 1 luxury home was in the Hays ISD
- 29 luxury homes were in the Lake Travis ISD
- 16 luxury homes were in the Leander ISD
- 10 luxury homes were in the Round Rock ISD
- 1 luxury home was in the San Marcos ISD
- 5 luxury homes were in the Wimberley ISD
- 27 luxury homes were in Gated Communities
- 96 luxury homes were in HOA’s
- 67 luxury homes had Pools
- 60 luxury homes were on Septic Systems
- 161 luxury homes that sold were located in Travis County
- 15 luxury homes that sold were located in Williamson County
- 27 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2021
October 2021 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 2021 Austin area luxury home sales below. The most expensive luxury home that sold in October 2021 sold for $7,800,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 720 sqft – 8,200 sqft with an average size of 3,374 sqft. The average price per square foot for a luxury home that sold in Austin in October 2021 was $508.58 with the lowest being $217/sqft and the highest being $1,851.85/sqft. It took, on average, 22 days to sell a luxury home in Austin and sellers received, on average, 101.53% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 1 | 1 | 720 | $825,000 | $217.77 | $1,000,000 | $217 | 80% | 58% | 0 |
| Max | 8 | 9 | 8,200 | $7,800,000 | $1,851.85 | $7,800,000 | $1,851.85 | 153% | 153% | 589 |
| Avg | 4 | 4 | 3,374 | $1,568,189 | $497.15 | $1,585,989 | $508.58 | 102.90% | 101.53% | 22 |
| Med | 4 | 4 | 3,240 | $1,375,000 | $469.72 | $1,392,500 | $470.17 | 100% | 100% | 6 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | October 2021 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 188 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 413 luxury homes currently for sale in the Austin area as of November 8, 2021. 292 are located in Travis County, 78 in Hays County and 43 in Williamson County.
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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