Home Sales: Austin-area Luxury Update

Let’s take a look at how luxury homes in the Austin area are doing this fall of 2018, based on statistics from the Austin Board of Realtors®, as reported by the Real Estate Center at Texas A&M University. West Lake Hills homes had a median price of $841,500 in November 2018. This was a 5.2 percent decrease compared to October 2018, but was a 16.6 percent increase when compared to the same month of last year. Four West Lake Hills homes sold in November 2018, an increase of 33.3 percent compared to October 2018 and also to November 2017. Bee Cave homes had a median price of $619,450 in November 2018. This was a 25.5 percent decrease compared to October 2018 and a 1.7 percent decrease compared to November 2017. Two Bee Cave homes sold in November 2018, which was a 100 percent increase compared to the previous month and a 33.3 percent decrease compared to November 2017. Lakeway homes sold for a median price of $510k in November 2018, a 7.3 percent increase compared to October 2018 and a 13.3 percent increase compared to November 2017. Fifteen homes sold in November 2018, which was a 53.1 decrease compared to October 2018 and a 40 percent decrease compared to November 2017. Horseshoe Bay homes had a median price of $772,500 in November 2018, which was a 50 percent increase compared to the previous month and a 117.6 percent increase compared to November 2017. Four homes sold in November 2018, which is a 55.6 percent decrease compared to the previous month and unchanged from November of last year. Driftwood homes sold for a median price of $630k in November 2018, a 10 percent increase compared to October 2018 and a 15.6 percent increase compared to November 2017. Seven homes sold in November 2018, which was 30 percent less than October 2018 and unchanged from November of last year. For comparison to these areas with considerable luxury homes, the median price for an Austin home in November 2018 was $382k.