Eleven Oaks Realty is proud to present their January 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 January 2015 Austin Luxury Real Estate Price Report covers the luxury market in the following Austin metro area counties: Travis, Williamson and Hays.
106% Increase in the Number of Luxury Home Sales in Austin
In January 2015, 37 luxury homes sold compared to 18 luxury homes in January 2014, marking a 106% increase in year over year numbers. The Austin luxury housing market has started strong in 2015. It will be interesting to see if that carries into February and March or if activity will stall.
Austin Luxury Homes Under Contract Up 35%
In January 2015, 42 luxury homes went pending in the Austin area compared to 31 in January 2014, marking a 35% increase in year over year numbers. The increase in pending sales indicates we are likely to see a strong February.
Number of Luxury Homes Listed for Sale Up 52%
In January 2015, there were 91 luxury homes introduced to the market compared to 60 in January 2014, marking a 52% increase in year over year numbers.
Austin Luxury Housing Inventory Down 8%
In January 2015, there was 9.2 months of inventory on the Austin luxury real estate market compared to 10.1 months in January 2014. This marked an 8% decrease in year over year numbers. This sizable drop we saw from December to January numbers is a predictable, seasonal trend and it seems this year is no different.
Time to Sell Luxury Home in Austin Down 28%
In January 2015, it took 89 days to sell a luxury home in Austin, on average, compared to 123 days in January 2014, marking a 28% decrease in year over year numbers. In December, it took nearly a month more to sell a home than in January, which is indicative of the significant increase in demand. The time it took to sell a luxury home in January was much closer to Spring than traditional Winter figures.
Austin Median Luxury Home Price Up 15%
This month, we saw a 15% increase in the median home sale price of a luxury home in the Austin area. The median home price in January 2015, when you consider homes that sold for $1 million or more, was $1,440,000 compared to $1,254,950 in January 2014. It seems buyers are more confident in the direction of the luxury real estate market and are willing to pay more for a home this year than last.
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.
28% More Homes on the Luxury Market
In January 2015, there were 478 luxury homes for sale in the Austin area, compared to 374 in January 2014, marking a 28% increase in year over year numbers. 2014 showed an increase in the number of luxury listings and it looks like 2015 will beat 2014’s numbers.
58% Increase in the Number of Luxury Homes Taken Off the Market
In January 2015 there were 49 luxury homes taken off the market compared to 31 in January 2014, showing a 58% increase in year over year numbers. It seems this year more sellers are pulling the plug than they were last year when they can’t get what the they think their homes are worth.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Up 28% and Luxury Demand is Up 106%
This month we saw a 28% increase in luxury housing supply (number of properties for sale) and a 106% increase in luxury demand (number of sold properties). If demand remains strong, we should see luxury housing inventory decrease pretty quickly over the next few months.
Median for Sale Price Down 2% vs Median Sold Price Up 15%
In the Austin area, we saw a 2% decrease in the median for sale price of a luxury home and a 15% increase in the median sold price of a luxury home in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
January 2015 Austin Luxury Home Sales Map
Most of the Austin luxury single family homes that sold in January 2015 were west of 35, south of 183 and north of 71 (with the exception of 2). Here is a map of the 35 Austin luxury homes that sold in January 2015. One sale in Wimberley TX is outside the scope of this map.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in January 2015
More Data on Austin Luxury Home Sales January 2015
Here is some additional data on the 37 luxury homes that sold in Travis, Williamson and Hays Counties in January 2015. These 37 homes sold for $1 million or more.
- 0 luxury homes that sold was a Foreclosures (Bank Owned)
- 5 luxury homes were Waterfront
- 14 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 13 luxury homes were in the Eanes ISD
- 4 luxury homes were in the Lake Travis ISD
- 4 luxury homes were in the Leander ISD
- 1 luxury home was in the Round Rock ISD
- 1 luxury home was in the Wimberley ISD
- 12 luxury homes were in Gated Communities
- 23 luxury homes were in HOA’s
- 18 luxury homes had Pools
- 17 luxury homes were on Septic Systems
- 36 luxury homes that sold were located in Travis County
- 1 luxury home that sold was located in Hays County
- 0 luxury homes that sold were located in Williamson County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in January 2015
Luxury Homes for Sale Around Austin
Here is a map view of the 394 luxury homes currently for sale in the Austin area as of February 6, 2015. 354 are located in Travis County, 10 are located in Williamson County and 30 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays County
January 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 January 2015 Austin area luxury home sales below. The most expensive luxury home that sold in January 2015 sold for $2,850,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,919 sqft – 11,387 sqft with an average size of 5,046 sqft. The average price per square foot for a luxury home that sold in Austin in January 2015 was $332.11 with the lowest being $103.19/sqft and the highest being $858.64/sqft. It took, on average, 111 days to sell a luxury home in Austin and sellers received, on average, 90.72% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 2 | 1,919 | $1,050,000 | $131.29 | $1,000,000 | $103.19 | 78.60% | 65.46% | 7 |
| Max | 14 | 14 | 11,387 | $2,995,000 | $981.70 | $2,850,000 | $858.64 | 100.07% | 153.30% | 611 |
| Avg | 5 | 5 | 5,046 | $1,643,862 | $356.69 | $1,528,076 | $332.11 | 93.25% | 90.72% | 111 |
| Median | 4 | 5 | 4,891 | $1,500,000 | $324.40 | $1,440,000 | $307.72 | 94.70% | 90.79% | 69 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Jan 2015 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 37 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
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. If you’re looking to buy or sell an Austin luxury home, don’t forget to check out our Buyer Resources and our Seller Resources for more tips.
Leave a Reply