Luxury Market Update Spring 2025

What buyers and sellers need to know right now

If you’ve been thinking about making a move in Austin’s luxury real estate market, you’re not alone — and you’re right on time. The $1M+ market across Central Texas is entering a more balanced phase, with signs of stabilization following several years of dramatic ups and downs. Whether you're looking to sell a luxury home or buy into one of Austin’s premier neighborhoods, there’s opportunity on both sides — if you know where to look.

Let’s take a closer look at what’s happening right now and what it means for you.

A Market Finding Its Balance

Across the board, Austin’s luxury real estate market is showing signs of a return to equilibrium. For single-family homes priced between $1M and $2M, the pace is relatively steady. Homes in this range are seeing a median days on market of 101, with most selling for about 95% of their asking price — a strong signal that serious buyers are still out there and well-priced homes are getting traction.

Meanwhile, the luxury condo market is tilting more toward buyers. With a slightly longer time on market and more inventory available, this segment is offering a bit more negotiating room.

Spotlight on Austin’s Most Desirable Areas: Westlake & Tarrytown

If you're focused on Austin’s ultra-premium neighborhoods like Eanes ISD and Tarrytown, the data paints a more nuanced picture.

• In the $2M–$5M range (a price band common in these areas), there are currently 131 active listings but only 66 homes sold in the past six months. That equates to an 11.9-month supply of inventory, leaning firmly into buyer’s market territory.

• Homes in this category are still closing at just under 95% of asking price, which shows buyers are striking good deals — but sellers aren’t giving homes away either.

• On average, these homes are sitting for about 118 days before selling, with many sellers needing to adjust pricing or expectations along the way.

In today’s real estate climate, all of this means luxury (especially ultra-luxury) listings need to be exceptional and priced with precision to stand out. Find out more about how to price your home by using our home value tool, or reach out to us!

What Buyers Should Know

For well-qualified buyers, this is one of the best moments in years to enter Austin’s luxury market. With more inventory, slower pace, and a more negotiable environment, you have room to breathe and space to be selective.

And if you're looking in prestigious neighborhoods like Westlake Hills, Rollingwood, or Tarrytown, there's more to choose from now than there has been in quite some time — with less competition.

What Sellers Should Consider

Sellers, this isn’t 2021 — but it’s not bad news, either. Thoughtfully priced homes with high-quality finishes, great locations, and lifestyle appeal are still selling well. But the days of aspirational pricing and lightning-fast sales are behind us for now.

For properties over $3M, strategic marketing and correct pricing are critical. The buyers are out there — but they’re deliberate, informed, and patient.

The Bottom Line

We’re in a more balanced, more thoughtful luxury market — where buyers and sellers can both succeed, but only with the right approach.

If you’re considering making a move or just curious about your home’s current value in this evolving landscape, we’d love to help.

📬 Want to stay informed?
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Let’s connect when you’re ready — we’re here to guide you every step of the way.