We’re definitely seeing more prime properties selling in the multi-millions, and given the amenities they offer, they’re worth every dollar. Austin is still a relative deal compared to other areas of the country.
Austin, Texas (PRWEB) January 17, 2013
Austin luxury home sales in December 2012 almost doubled the amount of luxury homes sold in December 2011, according to statistics interpreted by Austin real estate brokerage Regent Property Group. In addition, high end luxury homes with prices over $10 million are becoming more common.
To disclose these results, Regent studied real estate statistics for homes sold and listed over $1 million and located within the City of Austin. These homes generally include waterfront homes along Lake Austin, estates in Westlake, and prime downtown locales for homes and luxury condos.
Regent Property Group Founder Brian Talley is attuned to the luxury home market in Austin and actively assists luxury home clients through his brokerage. “It’s remarkable to see the uptick in prices for Austin luxury homes. We’re definitely seeing more prime properties selling in the multi-millions, and given the amenities they offer, they’re worth every dollar. Austin is still a relative deal compared to other areas of the country.”
Across the board, luxury home sales improved in 2012, compared to 2011:
In 2012, 287 luxury homes were sold, with a high price of $7.75 million, an average price of $1.69 million, and a median price of $1.37 million. Luxury homes sold with an average of 126 days on the market and a median 73 days on the market. Sold square foot prices averaged about $324 per square foot.
In 2011, 221 luxury homes were sold, with a high price of $6 million, an average price of $1.63 million, and a median price of $1.36 million. Luxury homes sold with an average of 131 days on the market and a median 85 days on the market. Sold square foot prices averaged about $309 per square foot.
Comparing December 2012 to December 2011, luxury home sales almost doubled, and average and high price points increased:
In December 2012, 27 luxury homes sold in the City of Austin, with a high price of $3.15 million and an average price of $1.57 million. In December 2011, 14 luxury homes were sold in the City of Austin, with a high price of $2.13 million and an average price of $1.32 million.
Early 2013 numbers reveal 227 luxury homes on the market, with a high list price of $15 million, an average list price of $2.44 million, and a median list price of $1.8 million. Twenty six luxury homes are pending sale, with a high list price of $10.9 million, an average list price of $1.9 million, and a median list price of $1.34 million. This indicates significant upward traction in luxury home prices, with more homes poised to be sold in the multi-millions this coming year.
Regent Property Group was founded by Brian Talley. He is ranked among the top 1% of selling agents out of the 5,313 Austin Board of REALTORS® members and is a personal top producer, closing multi-million dollars of transactions for homes located all over Austin, in areas such as Lake Austin, Eanes ISD, Westlake, downtown, and more. During 2011, Brian was the #11 top selling agent (#9 if including off-MLS properties) for total dollar volume sold in the greater Austin area. Talley, a 5th generation Texan, has been active in real estate since 1998, when he began his career working in retail development, sales, and marketing. Talley formed Regent Property Group to serve the needs of Austin’s residential real estate clients, helping people buy and sell luxury homes in the greater Austin area. Contact: info (at) regentpg (dot) com.