Our December 2024 Austin Luxury Market Report with insights (provided as part or our collaborative partnership with The Institute For Luxury Home Marketing) highlights key trends in the high-end real estate market, providing valuable insights for buyers and sellers alike.
The single-family luxury market remains a buyer’s market with a median sales price of $1,837,500 and homes taking an average of 64 days to sell. In the attached home segment, the median sales price is $987,500, with homes selling faster at just 32 days on the market. These metrics underscore opportunities for buyers to negotiate in a competitive landscape, while sellers should focus on pricing strategically to attract serious offers.
With inventory remaining strong and demand steady in popular price bands, Austin’s luxury market offers significant potential for both investment and lifestyle buyers. At Ivy Residential Group, we specialize in navigating this dynamic market to help our clients achieve their real estate goals with expert guidance and tailored strategies.
Single-Family Luxury Homes
• Market Type: The single-family luxury market is a buyer’s market, with an 11% sales ratio.
• Median Sales Price: $1,837,500, with homes selling at 94.90% of the list price in November 2024.
• Median Days on Market: Increased to 64 days compared to 57 days in November 2023.
• Most Active Price Band: $1,800,000–$1,899,999, showing a 36% sales ratio.
• Luxury Benchmark: Defined as homes priced at $1,400,000 and above.
Attached Luxury Homes (Condominiums and Townhomes)
• Market Type: Also a buyer’s market, with an 8% sales ratio.
• Median Sales Price: $987,500, with homes selling at 96.97% of the list price.
• Median Days on Market: Dropped significantly to 32 days, down from 71 days in November 2023.
• Most Active Price Band: $825,000–$849,999, with a 33% sales ratio.
• Luxury Benchmark: Defined as homes priced at $800,000 and above.
Trends and Observations
• Inventory: Total inventory for single-family homes was 524, and for attached homes, it was 191 as of November 2024.
• Performance Comparison: Year-over-year, both markets exhibited slight changes in median sales prices and days on market, highlighting seasonal and market-specific factors.
If you are interested in receiving a micro-market analysis or valuation on your property we will be glad to provide additional details. You are welcome to access our valuation calculator or reach out directly to Megan Kirkpatrick, Broker of Ivy Residential Group and Central Texas real estate expert.
