Updated Oct 30, 2026. Data: Unlock MLS and the third-party sources named inline.
Short answer for the Austin luxury real estate market: Yes on sales and speed, not on price. In September, Austin-area homes that sold for $1 million or more closed at a higher count than a year earlier while metro sales fell, and they sold faster. Prices at the top were roughly flat, and about half of active $1M+ listings had already cut their price. Where you are matters more than the luxury label: West Lake Hills (78746) had under four months of supply at $1.5M and up, while Lake Travis and Hill Country markets had 10 months or more.
The Headline Numbers
Austin metro, all price points
Per Unlock MLS, the Austin-Round Rock-San Marcos metro closed 2,223 sales in September 2026, down 14.8% from a year earlier. The median price rose 1.4% to $421,000, and there were 5.4 months of inventory (Unlock MLS September 2026 report).
$1M+ in Austin
For the $1M+ tier, the clearest read comes from Eleven Oaks Realty’s September 2026 luxury report, built from an Unlock MLS pull of $1M+ single-family sales in Travis, Williamson and Hays counties:
| Metric | Sept 2026 | Change vs. Sept 2025 |
|---|---|---|
| Closed sales | 209 | Up 10% (from 190) |
| Median sold price | $1,376,600 | Up 1.3% |
| Median time to sell | 45 days | Down from 59 days |
| New contracts | 196 | Down 11.7% (from 222) |
| Months of supply | About 6.5 to 6.8 | Not reported |
Source: Eleven Oaks Realty, September 2026 Austin Luxury Real Estate Price Report, Unlock MLS data, $1M+ single-family, Travis, Williamson and Hays counties.
So the top of the market added closings in the same month the metro lost them. That’s the “outperforming” part.
The Fine Print
Three numbers keep this from being a victory lap.
Contracts slowed. Eleven Oaks Realty counted new $1M+ contracts down 11.7% year over year in September, with about 6.5 to 6.8 months of supply (Eleven Oaks Realty). Contracts lead closings, so fall closings could cool.
Price cuts are common. The same report found 51% of active luxury listings had cut price at least once, and sellers closed at 96.61% of final list price but 92.19% of original list price. That gap is the cost of starting too high, which is why the first price matters so much at this level.
Supply is deepest at the very top of the city. LFG’s own September report for City of Austin single-family homes, pulled from Unlock MLS on Oct 19, shows the $1.4M+ band at 5.2 months of supply, deeper than the 3.0 to 4.1 months between $600K and $1.4M (LFG September 2026 report).
| City of Austin, single-family | Active listings | September sales | Months of supply |
|---|---|---|---|
| $1M to $1.19M | 138 | 34 | 4.1 |
| $1.2M to $1.39M | 97 | 27 | 3.6 |
| $1.4M+ | 449 | 86 | 5.2 |
Source: Unlock MLS, City of Austin single-family, pulled Oct 19, 2026, as published in the LFG September 2026 report.
How Austin Compares Nationally
Nationally, Realtor.com’s luxury entry point, the top 10% of listings, fell 3.6% to $1,199,321, its 30th straight month of annual decline, even as those homes sold 3 days faster than a year ago, at a median of 76 days (Realtor.com).
Supply by Area: Same Price, Different Negotiation
At $1.5 million and up, supply varies a lot by place. Bailey Kemps Nelson Group’s Unlock MLS pull for the 12 months ending in early October shows (Bailey Kemps Nelson Group):
| Area ($1.5M+, 12 months to early Oct 2026) | Months of supply |
|---|---|
| West Lake Hills (78746) | 3.9 |
| 13 west and central Austin ZIPs combined | 5.7 |
| Lakeway | 10.2 |
| Dripping Springs | 15.9 |
| Horseshoe Bay | 17.7 |
What that means on the ground:
West Lake Hills and close-in West Austin
In 78746, the same report showed a 100% median sale-to-list ratio at $1.5M+, on a small sample. Still, a well-priced home in this tier is competing against very few others. Our West Austin page covers the housing stock in Tarrytown, Rollingwood and Westlake.
Lake Travis and Lakeway
More choice, slower absorption. With more than 10 months of supply at this price point, buyers have time to compare and negotiate, and sellers need sharper pricing and presentation. See our Lakeway page.
Dripping Springs and the Hill Country
Acreage and custom homes make medians jumpy, since a few large closings can move them. Supply is the steadier signal, and it’s deep. See our Dripping Springs page.
Downtown condos
Deep supply, measured a different way. Jacob In Austin’s live tracker shows about 11.9 months of supply for downtown condos, with 220 active listings against 222 closings over 12 months (Jacob In Austin). Building, floor, view and HOA dues drive value more than the ZIP code. Our Downtown Austin page has more.
What This Means If You’re Selling
Price by your micro-market, not the metro headline. A West Lake Hills home and a Lake Travis home at the same price are in very different negotiations. In tighter pockets, a well-priced listing can move fast. In deeper ones, the first price has to be right, because buyers have time and options. The market rewards the right price, not the marble. Start with a home valuation and see how we approach listings on our sellers page.
What This Means If You’re Buying
Rates matter less at the top, but they still matter. Freddie Mac had the 30-year average at 7.24% on Oct 29, 2026 (Freddie Mac). In deeper-supply areas, ask for the full price history on any home before you write. A listing that’s already cut once may be ready to talk. In tight areas, have financing and inspections lined up before you tour, because decisions come faster. For the broader picture, see our Austin housing market update.
Frequently Asked Questions
Is the Austin luxury market outperforming the rest of the market?
On closed sales and speed, yes. In September, $1M+ closings rose year over year while metro closings fell 14.8% per Unlock MLS. On price, the top of the market was roughly flat, and about half of active $1M+ listings had cut price.
Are $1 million homes selling faster in Austin than last year?
Yes. Per Eleven Oaks Realty’s Unlock MLS pull, the median time to sell for $1M+ homes in Travis, Williamson and Hays counties fell to 45 days in September from 59 a year earlier.
How many months of luxury inventory does West Lake Hills have?
About 3.9 months at $1.5M and up, per Bailey Kemps Nelson Group’s Unlock MLS pull for the 12 months ending in early October 2026. That was the tightest of the areas it compared.
Where is there the most luxury supply around Austin?
Lake Travis and the Hill Country. At $1.5M and up, Lakeway had about 10.2 months of supply, Dripping Springs 15.9 and Horseshoe Bay 17.7, per Bailey Kemps Nelson Group’s Unlock MLS pull. Downtown condos ran about 11.9 months per Jacob In Austin’s tracker.
What counts as a luxury home in Austin?
It depends on the source. Many local reports use $1 million and up. We use the price bands in our monthly Unlock MLS report so you can see the tier your home actually competes in.
Want to see how your home or your target area compares at its exact price point? Contact Landy Frost Group at Compass at (512) 693-8578 or visit landyfrostgroup.com.