Eleven Oaks Realty is proud to present their July 2018 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The July 2018 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 49%
In July 2018, there were 148 luxury homes introduced to the market compared to 99 in July 2017, marking a 49% (49 home) increase in year over year numbers.
Austin Luxury Homes Under Contract Up 15%
In July 2018, 83 luxury homes went pending in the Austin area compared to 72 in July 2017, marking a 15% (11 home) increase in year over year numbers.
1% Decrease in the Number of Luxury Home Sales in Austin
In July 2018, 91 luxury homes sold compared to 92 luxury homes in July 2017, marking a 1% (1 home) decrease in year over year numbers.
Austin Luxury Housing Inventory Down 16%
In July 2018, there was 8.6 months of inventory on the Austin luxury real estate market compared to 10.2 months in July 2017 – a 16% decrease in year over year numbers. It will be interesting to see if we continue to see a decrease in inventory as we head into fall.
Time to Sell Luxury Home in Austin Up 11%
In July 2018, it took 86 days to sell a luxury home in Austin, on average, compared to 77 days in July 2017, marking an 11% (8 day) increase in year over year numbers.
Austin Median Luxury Home Price Down 2%
This month, the median home sale price of a luxury home in the Austin area was down 2%. The median home price in July 2018, when you consider homes that sold for $1 million or more, was $1,299,950 compared to $1,327,500 in July 2017.
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.
2% Fewer Homes on the Luxury Market
In July 2018, there were 864 luxury homes for sale in the Austin area, compared to 879 in July 2017, marking a 2% decrease in year over year numbers.
Number of Luxury Homes Taken Off the Market Down 3%
In July 2018 there were 69 luxury homes taken off the market compared to 71 in July 2017, showing a 3% (2 home) decrease in year over year numbers. This is the first time in several months where we’ve seen fewer homes taken off the market in year over year comparisons. Though there is only a 2 home difference, it might be an indication of seller’s motivation.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Down 2% – Luxury Demand Down 1%
This month we saw a 2% decrease in luxury housing supply (number of properties for sale) and a 1% decrease in luxury demand (number of sold properties).
Median for Sale Price Up 1% – Median Sold Price Down 2%
In the Austin area, we saw a 1% increase in median for sale price of a luxury home, while the median sold price of a luxury home was down 2% in year over year numbers. The median for sale price of a luxury home was $1,595,000 in July 2018 compared to $1,579,000 in July 2017 marking a $16,000 increase in year over year numbers. The median sold price of a luxury home was $1,299,950 in July 2018 and $1,327,500 July 2017, showing a $27,550 increase in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
July 2018 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in July 2018 were west of 35 (with the exception of 1), south of 183 and north of 290 (with the exception of 3). Here is a map of the 92 Austin luxury homes that sold in July 2018.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2018
More Data on Austin Luxury Home Sales July 2018
Here is some additional data on the 92 luxury homes that sold in Travis, Williamson and Hays Counties in July 2018. These 92 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 11 luxury homes were Waterfront
- 37 luxury homes were in the Austin ISD
- 0 luxury homes were in the Dripping Springs ISD
- 22 luxury homes were in the Eanes ISD
- 1 luxury home was in the Hays ISD
- 19 luxury homes were in the Lake Travis ISD
- 5 luxury homes were in the Leander ISD
- 5 luxury homes were in the Round Rock ISD
- 0 luxury homes were in the Wimberley ISD
- 1 luxury home was in the San Marcos ISD
- 25 luxury homes were in Gated Communities
- 49 luxury homes were in HOA’s
- 61 luxury homes had Pools
- 27 luxury homes were on Septic Systems
- 90 luxury homes that sold were located in Travis County
- 0 luxury homes that sold were located in Williamson County
- 2 luxury homes that sold were located in Hays County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in July 2018
Luxury Homes for Sale Around Austin
Here is a map view of the 602 luxury homes currently for sale in the Austin area as of August 29, 2018. 522 are located in Travis County, 28 are located in Williamson County and 52 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties
July 2018 Luxury Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve listed the figures for July 2018 Austin area luxury home sales below. The most expensive luxury home that sold in July 2018 sold for $6,800,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 1,809 sqft – 7,555 sqft with an average size of 4,333 sqft. The average price per square foot for a luxury home that sold in Austin in July 2018 was $388.18 with the lowest being $183.98 /sqft and the highest being $1,252.76/sqft. It took, on average, 80 days to sell a luxury home in Austin and sellers received, on average, 92.66% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 2 | 1,809 | $995,900 | $182.15 | $1,000,000 | $183.98 | 82.58% | 55.33% | 0 |
| Max | 6 | 7 | 7,555 | $7,900,000 | $1,455.42 | $6,800,000 | $1,252.76 | 115.67% | 115.67% | 434 |
| Avg | 4 | 5 | 4,333 | $1,734,300 | $406.87 | $1,648,500 | $388.18 | 96.00% | 92.66% | 80 |
| Median | 4 | 5 | 4,257 | $1,344,500 | $351.30 | $1,299,975 | $335.63 | 96.27% | 94.437% | 34 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | Jul-18 |
| Property Type | Single Family Homes $1MM+ | Number Sold | 92 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson Counties |
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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