Eleven Oaks Realty is proud to present their April 2015 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The April 2015 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 40%
In April 2015, there were 190 luxury homes introduced to the market compared to 136 in April 2014, marking a 40% increase in year over year numbers. It seems more sellers are confident with the direction of the Austin luxury real estate market and are looking to make a move.
Austin Luxury Homes Under Contract Up 9%
In April 2015, 74 luxury homes went pending in the Austin area compared to 68 in April 2014, marking a 9% increase in year over year numbers. Though not as significant an increase in year over year numbers as last month, we did see a significant jump from March to April, showing how strong the Austin luxury real estate market continues to be.
22% Increase in the Number of Luxury Home Sales in Austin
In April 2015, 55 luxury homes sold compared to 45 luxury homes in April 2014, marking a 22% (10 home) increase in year over year numbers.
Austin Luxury Housing Inventory Up 17%
In April 2015, there was 7.9 months of inventory on the Austin luxury real estate market compared to 6.8 months in April 2014. This marked a 17% increase in year over year numbers. With such a significant increase in new luxury homes listed on the market, we would expect to also see an increase in inventory, which should be good news for luxury home buyers.
Time to Sell Luxury Home in Austin Up 49%
In April 2015, it took 84 days to sell a luxury home in Austin, on average, compared to 56 days in April 2014, marking a 49% increase in year over year numbers. Though this seems like a significant increase, there was one luxury home that sold last month that took over 1,500 days to sell, which really increased the average. I would expect this figure to decrease significantly next month.
Austin Median Luxury Home Price Up 6%
This month, we saw a 6% increase in the median home sale price of a luxury home in the Austin area. The median home price in April 2015, when you consider homes that sold for $1 million or more, was $1,345,200 compared to $1,269,000 in April 2014. The median home price is going up in all segments of the Austin real estate market.
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.
25% More Homes on the Luxury Market
In April 2015, there were 702 luxury homes for sale in the Austin area, compared to 563 in April 2014, marking a 25% increase in year over year numbers. It seems more sellers are confident in the direction of the market and are putting their homes up for sale.
17% Increase in the Number of Luxury Homes Taken Off the Market
In April 2015 there were 41 luxury homes taken off the market compared to 35 in April 2014, showing a 17% increase in year over year numbers. Though we did see an increase this month (which is odd given the time of year), the increase is nowhere near as much as we saw last month. It seems homes taken off the luxury market has dropped back down to normal levels.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Up 25% and Luxury Demand is Up 22%
This month we saw a 25% increase in luxury housing supply (number of properties for sale) and a 22% increase in luxury demand (number of sold properties). Though both supply and demand are up, supply is up a bit more, which explains why we saw a slight increase in inventory this month.
Median for Sale Price Down 8% vs Median Sold Price Up 6%
In the Austin area, we saw an 8% decrease in the median for sale price of a luxury home and a 6% increase in the median sold price of a luxury home in year over year numbers. It seems sellers are pricing more aggressively this year and it is paying off with more sales.
Source: Clarus Market Metrics, ACTRIS Sold Data
April 2015 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in April 2015 were west of 35 (with the exception of one in Southeastern Travis County), south of 2222 (with the exception of 2) and north of 290 (with the exception of 1 in Manchaca). Here is a map of the 55 Austin luxury homes that sold in April 2015.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in April 2015
More Data on Austin Luxury Home Sales April 2015
Here is some additional data on the 55 luxury homes that sold in Travis, Williamson and Hays Counties in April 2015. These 55 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 6 luxury homes were Waterfront
- 19 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 18 luxury homes were in the Eanes ISD
- 10 luxury homes were in the Lake Travis ISD
- 6 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the Wimberley ISD
- 13 luxury homes were in Gated Communities
- 28 luxury homes were in HOA’s
- 28 luxury homes had Pools
- 27 luxury homes were on Septic Systems
- 54 luxury homes that sold were located in Travis County
- 1 luxury homes that sold were located in Hays County
- 1 luxury home that sold was located in Williamson County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in April 2015
Luxury Homes for Sale Around Austin
Here is a map view of the 588 luxury homes currently for sale in the Austin area as of May 11, 2015. 541 are located in Travis County, 16 are located in Williamson County and 38 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays County
April 2015 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for April 2015 Austin area luxury home sales below. The most expensive luxury home that sold in April 2015 sold for $6,817,900 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 2,042 sqft – 15,779 sqft with an average size of 4,574 sqft. The average price per square foot for a luxury home that sold in Austin in April 2015 was $357.83 with the lowest being $181.96/sqft and the highest being $783.58/sqft. It took, on average, 134 days to sell a luxury home in Austin and sellers received, on average, 91.97% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 2 | 2,042 | $1,050,000 | $181.96 | $1,000,000 | $181.96 | 76.18% | 42.46% | 0 |
| Max | 6 | 9 | 15,779 | $8,950,000 | $783.58 | $6,817,900 | $783.58 | 109.29% | 109.29% | 1,561 |
| Avg | 4 | 5 | 4,574 | $1,688,234 | $377.30 | $1,581,148 | $357.83 | 95.23% | 91.97% | 134 |
| Median | 4 | 5 | 4,488 | $1,375,000 | $366.28 | $1,345,000 | $353.95 | 95.65% | 95.24% | 28 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | April 2015 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 55 |
| 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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