Eleven Oaks Realty is proud to present their October 2022 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 2022 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 25%
In October 2022, there were 374 luxury homes introduced to the market compared to 300 in October 2021, marking a 25% (74 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Saw a 35% Decrease
In October 2022, 165 luxury homes went pending in the Austin area compared to 255 in October 2021, marking a 35% (90 home) decrease in year over year numbers.
12% Decrease in the Number of Luxury Home Sales in Austin
In October 2022, 169 luxury homes sold compared to 191 luxury homes in October 2021, marking a 12% (22 home) decrease in year over year numbers.
Austin Luxury Housing Inventory Up 285%
In October 2022, there was 7.4 months of inventory on the Austin luxury real estate market compared to 1.9 months in October 2021 marking a 285% (5.5 month) increase in year over year numbers. We are now in a balanced market, trending back towards a buyers market.
Time to Sell Luxury Home in Austin Saw an 82% Increase
In October 2022, it took 49 days to sell a luxury home in Austin, on average, compared to 27 days in October 2021, marking an 82% (22 day) increase in year over year numbers. The median days to sell is 30, which is more representative of the actual time it takes to sell a luxury home after it is introduced to the market. Last month, the median time to sell was 28 days and 19 days the month before that.
Austin Median Luxury Home Price Saw a 2% Decrease
This month, the median home sale price of a luxury home in the Austin area saw a 2% decrease in year over year numbers. The median home price in October 2022, when you consider homes that sold for $1 million or more, was $1,371,122 compared to $1,395,000 in October 2021.
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.
100% Increase in the Number of Homes on the Luxury Market
In October 2022, there were 1,593 luxury homes for sale in the Austin area, compared to 798 in October 2021, marking a 100% (795 home) increase in year over year numbers.
Number of Luxury Homes Taken Off the Market Saw a 291% Increase
In October 2022 there were 211 luxury homes taken off the market compared to 54 in October 2021, showing a 291% (157 home) increase in year over year numbers.
Luxury Supply Up 100% – Luxury Demand Down 12%
This month we saw a 100% increase in luxury housing supply (number of properties for sale) and a 12% decrease in luxury demand (number of sold properties).
Median for Sale Price Saw a 3% Increase – Median Sold Price Down 2%
In the Austin area, we saw a 3% ($50,525) increase in median for sale price of a luxury home, while the median sold price of a luxury home saw a 2% ($23,878) decrease in year over year numbers. The median for sale price of a luxury home was $1,550,000 in October 2022 compared to $1,499,475 in October 2021 marking a 3% increase in year over year numbers. The median sold price of a luxury home was $1,371,122 in October 2022 and $1,395,000 in October 2021, showing a 2% decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
October 2022 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in October 2022 were west of 130 (with the exception of 1), south of 138, and north of 150 (with the exception of 4). Here is a map of the 169 Austin luxury homes that sold in October 2022.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2022
More Data on Austin Luxury Home Sales October 2022
Here is some additional data on the 169 luxury homes that sold in Travis, Williamson and Hays Counties in October 2022. These 169 homes sold for $1 million or more.
- 0 luxury homes that sold were a Foreclosure (Bank Owned)
- 7 luxury homes were Waterfront
- 66 luxury homes were in the Austin ISD
- 13 luxury homes were in the Dripping Springs ISD
- 11 luxury homes were in the Eanes ISD
- 6 luxury homes were in the Georgetown ISD
- 4 luxury homes were in the Hays ISD
- 29 luxury homes were in the Lake Travis ISD
- 21 luxury homes were in the Leander ISD
- 4 luxury homes were in the Round Rock ISD
- 1 luxury home was in the San Marcos ISD
- 3 luxury homes were in the Wimberley ISD
- 19 luxury homes were in Gated Communities
- 103 luxury homes were in HOA’s
- 73 luxury homes had Pools
- 54 luxury homes were on Septic Systems
- 127 luxury homes that sold were located in Travis County
- 24 luxury homes that sold were located in Williamson County
- 18 luxury home that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in October 2022
October 2022 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 2022 Austin area luxury home sales below. The most expensive luxury home that sold in October 2022 sold for $10,700,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 860 sqft – 8,215 sqft with an average size of 3,515 sqft. The average price per square foot for a luxury home that sold in Austin in October 2022 was $505.38 with the lowest being $235.07/sqft and the highest being $2,083.33/sqft. It took, on average, 41 days to sell a luxury home in Austin and sellers received, on average, 91.95% of their original list prices.
| | Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 1 | 860 | $919,553 | $240.95 | $1,000,000 | $235.07 | 75% | 61% | 0 |
| Max | 6 | 9 | 8,215 | $11,900,000 | $1,692.99 | $10,700,000 | $2,083.33 | 127% | 127% | 170 |
| Avg | 4 | 4 | 3,515 | $1,773,853 | $526.05 | $1,699,428 | $505.38 | 96.41% | 91.95% | 41 |
| Med | 4 | 4 | 3,391 | $1,450,000 | $461.74 | $1,371,122 | $437.23 | 97% | 93% | 30 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | October 2022 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 169 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
Luxury Homes for Sale Around Austin
Here is a map view of the 1,207 luxury homes currently for sale in the Austin area as of October 3, 2022. 887 are located in Travis County, 147 in Hays County and 173 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 October 2022 Austin Luxury Real Estate Price Report?
Do you have questions about the October 2022 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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