Eleven Oaks Realty is proud to present their September 2016 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The September 2016 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 56%
In September 2016, there were 133 luxury homes introduced to the market compared to 85 in September 2015, marking a 56% (48 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Up 31%
In September 2016, 72 luxury homes went pending in the Austin area compared to 55 in September 2015, marking a 31% (17 home) increase in year over year numbers. The Austin luxury real estate market had a strong start to Fall.
8% Increase in the Number of Luxury Home Sales in Austin
In September 2016, 52 luxury homes sold compared to 48 luxury homes in September 2015, marking an 8% increase in year over year numbers. Again this month we saw an increase in both closed and pending luxury sales. The luxury segment of the real estate market seems to be the most active in Austin compared to last year.
Austin Luxury Housing Inventory Down 12%
In September 2016, there was 9.0 months of inventory on the Austin luxury real estate market compared to 10.2 months in September 2015. This marked a 12% decrease in year over year numbers. Though still technically a buyer’s market, luxury home owners should be pleased to see the decrease in inventory, especially at this historically slower time of year.
Time to Sell Luxury Home in Austin Up 2%
In September 2016, it took 114 days to sell a luxury home in Austin, on average, compared to 112 days in September 2015, marking a 2% increase in year over year numbers.
Austin Median Luxury Home Price Saw No Change
This month, we saw no change in the median home sale price of a luxury home in the Austin area. The median home price in September 2016, when you consider homes that sold for $1 million or more, was $1,400,000 compared to $1,406,950 in September 2015.
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.
18% More Homes on the Luxury Market
In September 2016, there were 804 luxury homes for sale in the Austin area, compared to 684 in September 2015, marking an 18% increase in year over year numbers. This year we are seeing more luxury home sellers confident enough in the market to list their homes for sale.
23% Increase in the Number of Luxury Homes Taken Off the Market
In September 2016 there were 86 luxury homes taken off the market compared to 70 in September 2015, showing a 23% 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 18% and Luxury Demand Up 8%
This month we saw an 18% increase in luxury housing supply (number of properties for sale) and an 8% increase in luxury demand (number of sold properties). Both luxury buyers and sellers were active in the real estate market this month.
Median for Sale Price Down 2% vs Median Sold Price Saw No Change
In the Austin area, we saw a 2% decrease in the median for sale price of a luxury home and essentially no change in the median sold price of a luxury home in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
September 2016 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in September 2016 were west of 35, south of 2222 (with the exception of 2) and north of 290. Here is a map of the 52 Austin luxury homes that sold in September 2016. One in Williamson County is out of the frame.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in September 2016
More Data on Austin Luxury Home Sales September 2016
Here is some additional data on the 52 luxury homes that sold in Travis, Williamson and Hays Counties in September 2016. These 52 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 9 luxury homes were Waterfront
- 21 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 11 luxury homes were in the Eanes ISD
- 11 luxury homes were in the Lake Travis ISD
- 3 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the Wimberley ISD
- 16 luxury homes were in Gated Communities
- 32 luxury homes were in HOA’s
- 39 luxury homes had Pools
- 17 luxury homes were on Septic Systems
- 51 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 September 2016
Luxury Homes for Sale Around Austin
Here is a map view of the 599 luxury homes currently for sale in the Austin area as of October 19, 2016. 534 are located in Travis County, 24 are located in Williamson County and 44 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
September 2016 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for September 2016 Austin area luxury home sales below. The most expensive luxury home that sold in September 2016 sold for $4,300,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 2,304 sqft – 15,822 sqft with an average size of 5,278 sqft. The average price per square foot for a luxury home that sold in Austin in September 2016 was $334.75 with the lowest being $189.54/sqft and the highest being $577.95/sqft. It took, on average, 120 days to sell a luxury home in Austin and sellers received, on average, 86.75% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 2 | 2,304 | $1,000,000 | $197.90 | $1,000,000 | $189.54 | 45.04% | 45.04% | 2 |
| Max | 9 | 12 | 15,822 | $6,500,000 | $648.05 | $4,300,000 | $577.92 | 100.00% | 100.00% | 481 |
| Avg | 5 | 5 | 5,278 | $1,906,469 | $365.31 | $1,665,961 | $334.75 | 92.08% | 86.75% | 120 |
| Median | 4 | 5 | 4,838 | $1,509,500 | $365.38 | $1,400,000 | $334.47 | 94.54% | 89.39% | 86 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | September 2016 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 52 |
| 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.
Leave a Reply