Austin Almost Doubles Luxury Homes Sold this Year
Posted by Regent Property Group on Thursday, February 21st, 2013 at 12:00pm. 1,526 Views
Austin’s luxury homes market – homes sold for over $1 million – is starting to show marked contrast to the luxury market of 2012. 2013 has almost doubled the number of luxury homes sold, with 12 homes selling from January 1 to February 14 in 2012 and 22 homes selling by 2/14 in 2013. The median sold price of homes sold to that date this year was $1,324,950, with a median sold price per square foot of $309.30.
Perhaps even more remarkable is that there were 54 luxury homes “pending” as of 2/14. This lends itself to an even larger number of luxury homes selling/closing in Austin in February and March, further eclipsing 2012 sales.
Popular luxury home areas in Austin include Westlake and the homes along Lake Austin, homes where students attend schools in the Eanes Independent School District, and centrally located homes and high-rise condominiums. Some of Austin's luxury homes even classify as mansions.
January 2013 more than doubles January 2012
In January 2013, there were 16 luxury homes sold, compared to seven luxury homes sold in January 2012.
- 16 sold
- Median sold price $1,461,500
- Median price per square foot $289.30
- 7 sold
- Median sold price $1,350,000
- Median price per square foot $267.5
Comparing the two months year-to-year: quantity sold, median sold price, and median price per square foot all have increased.
What’s on the market now?
As of 2/14, there were 240 luxury homes for sale in the city of Austin, with a low list price of $1,025,000 and a high list price of $15 million.
Prices per square foot range from around $145 to almost $1,400.
The median list price was $1,897,000 with a median price per square foot of $355.40.
Are you looking to sell or buy a luxury home in Austin? The best luxury real estate team awaits your call. Contact a Regent Property Group agent today!
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