Austin’s luxury home market is a fun and challenging one. As with any home purchase, clients are dreaming of finding their perfect home. For some that is a waterfront enclave, for others it’s a large property with sweeping views.
Austin, Texas (PRWEB) February 22, 2013
Regent Property Group is reporting Austin’s luxury homes market, defined as homes sold for over $1 million, almost doubled in 2013 compared to 2012, with 12 luxury homes selling from January 1 to February 14 in 2012 and 22 homes selling by 2/14 in 2013. Additionally, there were 54 luxury homes “pending” on 2/14, which points to even more of an increase in sales of luxury homes in Austin this coming spring.
Luxury home areas in Austin tend to include Westlake and homes where students attend schools in the Eanes Independent School District, homes along the shores of Lake Austin, homes with Lake Austin or hill country views, centrally located high-rise condominiums, and even a few select mansions.
“Austin’s luxury home market is a fun and challenging one,” says Regent Property Group Founder Brian Talley. “As with any home purchase, clients are dreaming of finding their perfect home. For some that is a waterfront enclave, for others it’s a large property with sweeping views. Austin has so many varied ways to bring that home dream to reality that it’s always an enjoyable experience to share that journey with clients.”
He continued, “And with luxury home sellers, the market is brisk enough now for sellers to start seeing traction – and results.”
The median sold price of luxury homes sold to 2/14/2013 was $1,324,950, with a median sold price per square foot of $309.30. As far as active homes, there were 240 luxury homes for sale in the city of Austin as of 2/14, with a low list price of $1,025,000 and a high list price of $15 million. Prices per square foot ranged 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.
When comparing January 2013 to January 2012, this year more than doubles luxury homes sold. Paralleling the two months year-to-year, quantity sold, median sold price, and median price per square foot all have increased. In January 2013, there were 16 luxury homes sold, compared to seven luxury homes sold in January 2012. The median sold price in January 2013 was $1,461,500, with a median price per square foot of $289.30. This compares to a median sold price of $1,350,000 in January 2012, with a median price per square foot of $267.50.
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.
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.