Austin luxury homes are relatively affordable compared to other parts of the U.S. Our typical sold luxury property is only around $1.5 million. Depending on what part of Austin a buyer chooses, that money can buy a lot of well-crafted square footage.
Austin, TX (PRWEB) August 29, 2013
Over 300 homes above a $1 million closing price have sold in Austin, Texas thus far in 2013, according to Austin luxury homes brokerage Regent Property Group. Of those homes, from a Multiple Listing Service analysis, the high sold price was $5,860,000 (about $755.12 per square foot), the average sold price was $1,589,292 (about $319.08 per square foot), and the median sold price was $1,349,500 (about $295.56 per square foot).
“While Austin luxury home sales and prices both are up, our luxury properties are relatively affordable compared to other parts of the nation,” said Regent Property Group Founder Brian Talley. “Here, the typical sold luxury property is only around $1.5 million. Depending on what part of Austin a buyer chooses, that money can buy a lot of well-crafted square footage. It’s easy to see why luxury investors and luxury homeowners find Austin so attractive.”
As of August 26, 2013, the year to date average sold price for a luxury home was $1,589,292 (about $319.08 per square foot), and the year to date median sold price for a luxury home was $1,349,500 (about $295.56 per square foot). The high sold price was $5,860,000 (about $755.12 per square foot).
Talley said that homes well above the median price to the double digit millions are less common but still widely available. He said these homes represent opportunities for elite buyers to buy the most distinguished homes in Austin. Typically these homes are waterfront properties on Lake Austin, within central Austin areas like Tarrytown, homes in the Eanes Independent School District, or west in areas such as Barton Creek.
As of August 26, 2013, there were 328 MLS-listed luxury homes for sale. The high list price was $14.5 million (about $1,800 per square foot), the average list price was about $2.38 million (about $408 per square foot), and the median list price was about $1.71 million (about $346 per square foot).
About Regent Property Group
Regent Property Group was founded by Brian Talley, who has been ranked among the top 1% and 2% of Austin Board of REALTORS® members. He 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 selling agent (#9 including off-MLS properties) for total dollar volume sold in the greater Austin area. Talley, a 5th generation Texan, 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.