Eleven Oaks Realty is proud to present their January 2019 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 2019 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 19%
In January 2019, there were 123 luxury homes introduced to the market compared to 103 in January 2018, marking a 19% (20 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Down 2%
In January 2019, 60 luxury homes went pending in the Austin area compared to 61 in January 2018, marking a 2% (1 home) decrease in year over year numbers.
19% Increase in the Number of Luxury Home Sales in Austin
In January 2019, 44 luxury homes sold compared to 37 luxury homes in January 2018, marking a 19% (7 home) increase in year over year numbers.
Austin Luxury Housing Inventory Down 1%
In January 2019, there was 8.4 months of inventory on the Austin luxury real estate market compared to 8.5 months in January 2018 – a 1% decrease in year over year numbers. This month we saw both a year over year and a decrease from the previous six months of inventory on the Austin luxury market. It will be interesting to see if that trend continues as we head into the busier spring market.
Time to Sell Luxury Home in Austin Down 10%
In January 2019, it took 105 days to sell a luxury home in Austin, on average, compared to 116 days in January 2018, marking a 10% (11 day) decrease in year over year numbers.
Austin Median Luxury Home Price Up 6%
This month, the median home sale price of a luxury home in the Austin area saw a 6% increase in year over year numbers. The median home price in January 2019, when you consider homes that sold for $1 million or more, was $1,431,250 compared to $1,349,000 in January 2018.
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.
No Change in the Number of Homes on the Luxury Market
In January 2019, there were 609 luxury homes for sale in the Austin area, compared to 610 in January 2018, marking essentially no change in year over year numbers.
Number of Luxury Homes Taken Off the Market Up 45%
In January 2019 there were 45 luxury homes taken off the market compared to 31 in January 2018, showing a 45% (14 home) increase in year over year numbers. January is typically a slow month for luxury homes taken off the market with the majority of them being taken off in December. Though we did see a significant decrease in numbers since last month, we also saw a significant decrease in year over year numbers as well. It will be interesting to see if this is an indication of things to come or if this decrease is a fluke.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply Saw No Change – Luxury Demand Up 19%
This month we saw no change in luxury housing supply (number of properties for sale) and a 19% increase in luxury demand (number of sold properties).
Median for Sale Price Saw No Change – Median Sold Price Up 6%
In the Austin area, we saw no change in median for sale price of a luxury home, while the median sold price of a luxury home saw a 6% increase in year over year numbers. The median for sale price of a luxury home was $1,650,00 in January 2019 compared to $1,650,000 in January 2018 marking no change in year over year numbers. The median sold price of a luxury home was $1,431,250 in January 2019 and $1,349,000 January 2018, showing an $82,250 decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
January 2019 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in January 2019 were west of 35 (with the exception of 1), south of 183 (with the exception of 1) and north of 290 (with the exception of 1). Here is a map of the 46 Austin luxury homes that sold in January 2019.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in January 2019
More Data on Austin Luxury Home Sales January 2019
Here is some additional data on the 46 luxury homes that sold in Travis, Williamson and Hays Counties in January 2019. These 46 homes sold for $1 million or more.
- 1 luxury home that sold was a Foreclosure (Bank Owned)
- 4 luxury homes were Waterfront
- 24 luxury homes were in the Austin ISD
- 1 luxury home was in the Dripping Springs ISD
- 7 luxury homes were in the Eanes ISD
- 0 luxury homes were in the Hays ISD
- 5 luxury homes were in the Lake Travis ISD
- 7 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the San Marcos ISD
- 0 luxury homes were in the Wimberley ISD
- 12 luxury homes were in Gated Communities
- 20 luxury homes were in HOA’s
- 23 luxury homes had Pools
- 12 luxury homes were on Septic Systems
- 44 luxury homes that sold were located in Travis County
- 1 luxury home that sold was located in Williamson County
- 1 luxury home that sold was located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in January 2019
Luxury Homes for Sale Around Austin
Here is a map view of the 426 luxury homes currently for sale in the Austin area as of February 18, 2019. 375 are located in Travis County, 16 are located in Williamson County and 35 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
January 2019 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 2019 Austin area luxury home sales below. The most expensive luxury home that sold in January 2019 sold for $5,500,000 and the least expensive luxury home sold for $1,008,000. Austin luxury homes ranged in size from 898 sqft – 8,374 sqft with an average size of 4,283 sqft. The average price per square foot for a luxury home that sold in Austin in January 2019 was $419.65 with the lowest being $200.62 /sqft and the highest being $1,224.94/sqft. It took, on average, 99 days to sell a luxury home in Austin and sellers received, on average, 90.77% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 2 | 1 | 898 | $998,000 | $198.23 | $1,008,000 | $200.62 | 73.38% | 60% | 0 |
| Max | 6 | 8 | 8,374 | $5,650,000 | $1,669.27 | $5,500,000 | $1,224.94 | 110.73% | 110.73% | 483 |
| Avg | 4 | 4 | 4,283 | $1,747,341 | $451.86 | $1,641,464 | $419.65 | 94.63% | 90.77% | 99 |
| Med | 4 | 5 | 4,163 | $1,499,500 | $387.34 | $1,443,750 | $362.71 | 95.32% | 92.97% | 78 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Jan-19 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 46 |
| 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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