Eleven Oaks Realty is proud to present their June 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 June 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 28%
In June 2015, there were 147 luxury homes introduced to the market compared to 115 in June 2014, marking a 28% (32 home) increase in year over year numbers. Again this month, more luxury sellers are attempting to take advantage of the strength of the Austin luxury real estate market.
Austin Luxury Homes Under Contract Up 31%
In June 2015, 77 luxury homes went pending in the Austin area compared to 59 in June 2014, marking a 31% increase in year over year numbers. We also saw a significant increase in pending sales from last month.
32% Decrease in the Number of Luxury Home Sales in Austin
In June 2015, 46 luxury homes sold compared to 68 luxury homes in June 2014, marking a 32% (22 home) increase in year over year numbers. Last month’s dip in pending sales caused a dip in this month’s sold numbers.
Austin Luxury Housing Inventory Down 3%
In June 2015, there was 8.1 months of inventory on the Austin luxury real estate market compared to 8.3 months in June 2014. This marked a 3% decrease in year over year numbers. With the slow down in May, we saw an increase in inventory, but the increase in sales this month have brought inventory levels back down to expected Summer levels.
Time to Sell Luxury Home in Austin Down 1%
In June 2015, it took 91 days to sell a luxury home in Austin, on average, compared to 92 days in June 2014, marking a 1% decrease in year over year numbers.
Austin Median Luxury Home Price Down 7%
This month, we saw a 7% decrease in the median home sale price of a luxury home in the Austin area. The median home price in June 2015, when you consider homes that sold for $1 million or more, was $1,300,000 compared to $1,392,500 in June 2014.
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.
30% More Homes on the Luxury Market
In June 2015, there were 766 luxury homes for sale in the Austin area, compared to 589 in June 2014, marking a 30% increase in year over year numbers. It seems sellers are confident in their ability to find a buyer for their luxury home.
68% Increase in the Number of Luxury Homes Taken Off the Market
In June 2015 there were 67 luxury homes taken off the market compared to 40 in June 2014, showing a 68% increase in year over year numbers. The number of luxury homes taken off the market was at its peak over the past 12 months.
Did your home expire? Check out our Austin Home Not Selling resources page to find out why.
Luxury Supply is Up 30% and Luxury Demand is Down 32%
This month we saw a 30% increase in luxury housing supply (number of properties for sale) and a 32% decrease in luxury demand (number of sold properties). This should be good news for luxury buyers who are looking for more choices and less competition.
Median for Sale Price Down 6% vs Median Sold Price Down 7%
In the Austin area, we saw a 6% decrease in the median for sale price of a luxury home and a 7% decrease in the median sold price of a luxury home in year over year numbers. It seems sellers are pricing less aggressively this year, which is part of the reason more luxury homes are selling.
Source: Clarus Market Metrics, ACTRIS Sold Data
June 2015 Austin Luxury Home Sales Map
All of the Austin luxury single family homes that sold in June 2015 were west of 35 (with the exception of 1), south of 2222 (with the exception of 1) and north of 290 (with the exception of 2). Here is a map of the 47 Austin luxury homes that sold in June 2015.
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in June 2015
More Data on Austin Luxury Home Sales June 2015
Here is some additional data on the 47 luxury homes that sold in Travis, Williamson and Hays Counties in June 2015. These 47 homes sold for $1 million or more.
- 0 luxury homes that sold were Foreclosures (Bank Owned)
- 5 luxury homes were Waterfront
- 22 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
- 5 luxury homes were in the Leander ISD
- 0 luxury homes were in the Round Rock ISD
- 1 luxury home was in the Wimberley ISD
- 13 luxury homes were in Gated Communities
- 22 luxury homes were in HOA’s
- 23 luxury homes had Pools
- 14 luxury homes were on Septic Systems
- 45 luxury homes that sold were located in Travis County
- 1 luxury home that sold was located in Hays County
- 0 luxury homes that sold was located in Williamson County
Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in June 2015
Luxury Homes for Sale Around Austin
Here is a map view of the 631 luxury homes currently for sale in the Austin area as of July 17, 2015. 579 are located in Travis County, 18 are located in Williamson County and 34 are located in Hays County.
Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays County
June 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 June 2015 Austin area luxury home sales below. The most expensive luxury home that sold in June 2015 sold for $3,250,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 2,547 sqft – 9,036 sqft with an average size of 4,554 sqft. The average price per square foot for a luxury home that sold in Austin in June 2015 was $338.57 with the lowest being $168.39/sqft and the highest being $886.04/sqft. It took, on average, 73 days to sell a luxury home in Austin and sellers received, on average, 94.99% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 3 | 2 | 2,547 | $979,900 | $177.75 | $1,000,000 | $168.39 | 77.86% | 70.91% | 0 |
| Max | 6 | 9 | 9,036 | $3,300,000 | $899.67 | $3,250,000 | $866.04 | 109.80% | 214.70% | 426 |
| Avg | 4 | 5 | 4,554 | $1,521,828 | $351.73 | $1,457,279 | $338.57 | 96.06% | 94.99% | 73 |
| Median | 4 | 5 | 4,217 | $1,350,000 | $344.69 | $1,300,000 | $330.64 | 96.88% | 95.52% | 36 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | June 2015 |
| Property Type | Homes $1MM+ | Number Sold | 47 |
| Source: | ABoR Sales Data | Area | Travis, Hays, Williamson |
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