Austin’s luxury home market sputtered last week, with a decrease in closed deals for homes over $2 million and a drop in new listings.
The slowdown was likely “due to below freezing temps all week,” said Eklund Gomes agent Michael Reisor. But the market is on track for a busy start to the spring buying season, he said.
Total active inventory for homes listed over $2 million increased about 3 percent to 347, with 24 new listings on the market last week compared to 33 the week before, according to the latest Eklund Gomes luxury report.
Those include a listing for a nearly $6 million home in Westlake, offered by Sean Kubicek of Moreland Properties’ KUBE Group. The five-bedroom, two-story home at 2405 Deer Pass, completed this year, spans 4,300 square feet on three quarters of an acre, with a private guest house, pool and spa, a wet bar, study and glass bridge connecting gabled volumes. It last asked about $1,380 per square foot.
The KUBE Group invests and develops luxury homes for turnkey investors in addition to advising non-investor buyers and sellers, according to its website — county records show an entity managed by Kubicek and another agent from the group, Claudia Scott, has held the deed since May 2022.
A home listed for $5.4 million in Barton Creek also hit the market last week, spanning 4,900 square feet on over 3.5 acres and asking about $1,100 per square foot.
Built in 2016, the home at 4601 Peralta Lane features four bedrooms, each with an ensuite bath, an office, two living areas and two dining spaces. It has a secluded front courtyard with an outdoor fireplace and, in the backyard, a pool, covered patio and grill station. Kuper Sotheby’s International Realty agent Alison Elliott has the listing.
Contracts on homes listed over $2 million dropped from 13 the week before to 10 last week, and total volume was $34.9 million, down $6.7 million from the week prior, the report said.
The priciest of those 10 deals was for a home last listed at $7.9 million off Lake Travis, in Lakewind Estates. At 3500 Ranch Road 620 Road North, it spans about 5,200 square feet on 4 acres, asking $1,520 per square foot.
Built by architect O’Neil Ford in 1962, the home lies above the lake with a tram leading down to a private boat slip. It has a solarium pool, four bedrooms with ensuite bathrooms, a living and dining room with pitched ceilings and a courtyard with a waterfall. Dara Allen of @properties Lone Star Christie’s International Real Estate has the listing.
The other nine deals landed for homes ranging from $2.25 to $3.8 million across the Austin area: two south of Downtown Austin, in Barton Hills and Bouldin Creek, two north of the city center near Northwest Hills, four more in Barton Creek, Westlake Hills and Austin Lake Estates and another west of Bee Cave in Belvedere.
Read more
Luxury market humming ahead of spring buying season
$14M Lake Austin villa courts the ultra-wealthy
Compass scores luxury power play in Wade Giles’ group move
