Austin’s luxury market just got a new heavyweight. The city’s priciest active listing — a $19.9 million waterfront estate in North Westlake Hills — hit the market for the first time ever last week.
The mid-century two-story estate is asking $2,400 per square foot and spans over 8,300 square feet on about 1.75 acres off Lake Austin at 3925 Westlake Drive. It comes with a two-slip boat dock, boat house, four bedrooms and a gym and library.
Donald Counts, a doctor, is selling the home; he and his wife, Kathryn O’Connor, had lived there since it was built in 1963; she died in November 2023. Moreland Properties agent Amy Deane has the listing.
The Austin market added 15 listings over $2 million to its luxury inventory out of 285 active listings last week, according to the latest Eklund Gomes luxury report. The luxury segment hit a 2.8 weekly conversion rate, a 25 percent bump from 2.1 the week before.
Total volume rose $8.7 million from the week prior, with eight signed contracts over $2 million, the report said.
The deals, exemplifying a preference for Lake Austin frontage, hint that Austin luxury is on the upswing.
“Multiple offers are popping up at all price points, and we have very strong momentum as we move into February,” Eklund Gomes agent Michael Reisor said.
Austin’s home market has slowed from its pandemic-era boom. About 62 percent of listings in November were on the market for 60 days or longer, the second-highest in the country behind Miami, according to Redfin. Still, days on market for homes under contract last week decreased from 156 days the week before to 117.
A home built last year in Barton Creek was the most expensive listing of last week’s eight sales. The five-bedroom, “Hill Country-style” residence last listed for $5.3 million at 505 Crystal Creek Drive, or about $980 per square foot.
Geshke Group Architecture designed, and Wilde Custom Homes built the home, spanning 5,400 square feet on nearly 2 acres. It includes a vanishing edge pool, breakfast bar and gated entryway. Moreland Properties agents Jessica Yates and Eric Moreland had this listing from October, and it took a $100,000 price cut in December.
The second-priciest, 2505 Tydings Cove off Lake Austin in Manana West, asked $4.3 million. It was the smallest home sold last week, at under 1,600 square feet, on property fronting Lake Austin, with a two-slip boat dock. It asked almost $2,750 per square foot. Russell Martin from the Keller Williams Austin Portfolio Real Estate team had the listing.
The third and fourth most-expensive, at 425 Brandon Way and 708 Marly Way in Seven Oaks, asked $4.2 million and $3.5 million. Compass agents Mike Mogavero and Christen Lowe had the Brandon Way listing, about $645 per square foot, and Compass’ Scott Michaels the Marly Way home, which asked about $520 per square foot.
Four other deals closed on homes in Zilker Park, Tarrytown and near Northwest Hills, and the lowest-priced contract, for a modern home listed at $2.1 million, was outside Bee Cave.
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