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You are here: Home / Real Estate Price Reports / Austin Luxury Real Estate Market Report / November 2018 Austin Luxury Real Estate Price Report

November 2018 Austin Luxury Real Estate Price Report

December 19, 2018 By Rebecca Jacks

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Eleven Oaks Realty is proud to present their November 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 November 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 11%

In November 2018, there were 82 luxury homes introduced to the market compared to 74 in November 2017, marking an 11% (8 home) increase in year over year numbers.

Austin number of new luxury listings November 2018

Austin Luxury Homes Under Contract Up 14%

In November 2018, 50 luxury homes went pending in the Austin area compared to 44 in November 2017, marking a 14% (6 home) increase in year over year numbers.

number of luxury homes under contract Austin November 2018

5% Increase in the Number of Luxury Home Sales in Austin

In November 2018, 60 luxury homes sold compared to 57 luxury homes in November 2017, marking a 5% (3 home) increase in year over year numbers.

Austin number of luxury homes sold November 2018

Austin Luxury Housing Inventory Down 12%

In November 2018, there was 11.7 months of inventory on the Austin luxury real estate market compared to 13.4 months in November 2017 – a 12% decrease in year over year numbers. Though we’re starting to see an increase in inventory from fall, we’re still seeing less inventory than we saw last year, showing more luxury buyers in the market.

Austin luxury homes inventory November 2018

Time to Sell Luxury Home in Austin Down 24%

In November 2018, it took 109 days to sell a luxury home in Austin, on average, compared to 144 days in November 2017, marking a 24% (35 day) decrease in year over year numbers.

Austin luxury homes average days on market November 2018

Austin Median Luxury Home Price Down 2%

This month, the median home sale price of a luxury home in the Austin area saw a 2% decrease in year over year numbers. The median home price in November 2018, when you consider homes that sold for $1 million or more, was $1,317,250 compared to $1,350,000 in November 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.

Austin median luxury home price November 2018

2% Fewer Homes on the Luxury Market

In November 2018, there were 715 luxury homes for sale in the Austin area, compared to 726 in November 2017, marking a 2% decrease in year over year numbers.

Austin number of luxury homes for sale November 2018

Number of Luxury Homes Taken Off the Market Down 16%

In November 2018 there were 78 luxury homes taken off the market compared to 93 in November 2017, showing a 16% (15 home) decrease in year over year numbers. With the increase in luxury home sales, fewer sellers have had to take their homes off the market this year.

Did your home expire? Check out our Austin Home Not Selling resources page to find out why.

Austin number of homes expired November 2018

Luxury Supply is Down 2% – Luxury Demand Up 5%

This month we saw a 2% decrease in luxury housing supply (number of properties for sale) and a 5% increase in luxury demand (number of sold properties).

Austin luxury real estate market supply and demand November 2018

Median for Sale Price Down 4% – Median Sold Price Down 2%

In the Austin area, we saw a 4% decrease in median for sale price of a luxury home, while the median sold price of a luxury home saw a 2% decrease in year over year numbers. The median for sale price of a luxury home was $1,600,00 in November 2018 compared to $1,662,500 in November 2017 marking a $62,500 decrease in year over year numbers. The median sold price of a luxury home was $1,317,250 in November 2018 and $1,350,000 November 2017, showing a $32,750 decrease in year over year numbers.

Austin luxury home pricing equilibrium November 2018

Source: Clarus Market Metrics, ACTRIS Sold Data

November 2018 Austin Luxury Home Sales Map

All of the Austin luxury single family homes that sold in November 2018 were west of 35 (with the exception of 1), south of 183 and north of 290 (with the exception of 4). Here is a map of the 61 Austin luxury homes that sold in November 2018.

austin luxury home sales November 2018

Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in November 2018

More Data on Austin Luxury Home Sales November 2018

Here is some additional data on the 61 luxury homes that sold in Travis, Williamson and Hays Counties in November 2018. These 61 homes sold for $1 million or more.

  • 1 luxury home that sold was a Foreclosure (Bank Owned)
  • 6 luxury homes were Waterfront
  • 28 luxury homes were in the Austin ISD
  • 1 luxury home was in the Dripping Springs ISD
  • 10 luxury homes were in the Eanes ISD
  • 2 luxury homes were in the Hays ISD
  • 13 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
  • 0 luxury homes were in the San Marcos ISD
  • 2 luxury homes were in the Wimberley ISD
  • 12 luxury homes were in Gated Communities
  • 31 luxury homes were in HOA’s
  • 27 luxury homes had Pools
  • 18 luxury homes were on Septic Systems
  • 56 luxury homes that sold were located in Travis County
  • 0 luxury homes that sold were located in Williamson County
  • 5 luxury homes that sold were located in Hays County

Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in November 2018

Luxury Homes for Sale Around Austin

Here is a map view of the 440 luxury homes currently for sale in the Austin area as of December 15, 2018. 379 are located in Travis County, 18 are located in Williamson County and 43 are located in Hays County.

luxury homes for sale in austin area November 2018

Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties

November 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 November 2018 Austin area luxury home sales below. The most expensive luxury home that sold in November 2018 sold for $3,775,000 and the least expensive luxury home sold for $1,025,000. Austin luxury homes ranged in size from 2,202 sqft – 7,653 sqft with an average size of 4,315 sqft. The average price per square foot for a luxury home that sold in Austin in November 2018 was $368.12 with the lowest being $193.53 /sqft and the highest being $672.91/sqft. It took, on average, 104 days to sell a luxury home in Austin and sellers received, on average, 93.21% of their original list prices.

Beds Baths SqFt List Price LP/SqFt Sold Price SP/SqFt SP/LP SP/OLP ADOM
Min 3 1 2,202 $832,000 $193.53 $1,025,000 $193.53 83.02% 69.10% 0
Max 6 9 7,653 $3,925,000 $699.64 $3,775,000 $672.91 168.39% 168.39% 500
Avg 4 5 4,315 $1,572,836 $380.96 $1,514,529 $368.12 97.23% 93.21% 104
Median 4 5 4,232 $1,395,000 $360.07 $1,325,000 $337.14 96.84% 93.19% 61
Search Criteria
Status Sold Sold Date Nov-18
Property Type Single Family Homes $1MM+ Number Sold 61
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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Filed Under: Austin Luxury Real Estate Market Report Tagged With: Luxury Housing Market

About Rebecca Jacks

Rebecca has founded her success in real estate on a commitment to personalized service. Clients appreciate her dedication to not only the success of their transaction, but their very peace of mind. She is particularly adept at creating bridges to make home buying and relocation as seamless as possible.

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