Austin, Texas Luxury Homes Report March 2013

Interested in buying a luxury home in Austin, Texas? You’ll face stiffer competition and higher prices than in recent years, but options still abound.

As of March 23, 2013, there were 305 luxury homes – those listed over $1 million – on the Austin market. These commonly include Lake Austin properties and Westlake properties. The high list price for these active homes was $15 million, which equates to about $1,797 per square foot.

Average and median list prices reflected that most luxury homes in Austin are at a lower price point. The average list price was $2,424,346 (about $408 per square foot,) and the median list price was $1.8 million (about $349 per square foot.)

Seventy-six homes were pending, with a high list price of $6.95 million (about $849 per square foot.) Average list price was $1,655,629 (about $344 per square foot,) and median list price was $1,420,000 (about $315 per square foot.)

Sold homes give potential buyers and sellers the clearest markers of what to expect from the luxury home market. Here is how sold homes shaped up for February 2013 and year-to-date.

Sold Homes February 2013

• 20 homes sold
• High sold price $3,250,000 (about $538 per square foot)
• Average sold price $1,364,184 (about $300 per square foot)
• Median list price $1,196,000 (about $285 per square foot)

Sold Homes Year to Date (January 1 to March 23, 2013)

• 62 homes sold
• High sold price $4,280,000 (about $755 per square foot)
• Average sold price $1,511,914 (about $308 per square foot)
• Median sold price $1,262,500 (about $291 per square foot)

Is it your time to upgrade to finer living in Austin? Contact the experienced luxury property agents at Regent Property Group for more information on your desired lifestyle! 512.554.9714