A $14 million home landed on the Austin market last week as deals ramp up and the luxury home market heads into the spring buying season.
The two-story listing at 4211 Watersedge Cove off Lake Austin has four bedrooms, multiple living and dining rooms and an infinity pool. It spans 5,000 square feet on just over half an acre and asks about $2,800 per square foot. Moreland Properties agent Greg Walling has the listing.
Last week, 33 homes asking over $2 million hit the Austin market, the same number of luxury homes it added each week this month, according to the latest Eklund Gomes luxury report. That comes out to an absorption rate of about 3.9, with 13 closed deals for the week, which was up from eight deals under contract the week prior. The deals ranged from about $2.1 million to $10 million, all west and north of Downtown Austin.
The total deal volume was $41.7 million, up $17 million from the week before. The average price point increased 7 percent to $3.2 million, while the average price per square foot increased 5 percent to $689 per square foot.
The priciest of last week’s 13 deals was made for a home at 13414 Shore Vista Drive off Lake Austin, just northeast of Bee Cave. The 8,800-square-foot mansion last asked $10 million, or about $1,130 per square foot. The price is $2.75 million lower than when it was listed in August. Eric Moreland of Moreland Properties has the listing.
Built in 2006, the Shore Vista home comes with 250 feet of waterfront on almost 3 acres, with a two-slip boat dock and six bedrooms, including an office with a balcony.
The next two top deals were both in the $3 million range. A home at 2328 Westforest Drive near South Lamar last asked $3.75 million, about $870 per square foot, and another asked $3.3 million, about $690 per square foot, at 5611 Bull Creek Road in Allandale.
Rey Rocha of eXp Realty had the Westforest listing, and Gottesman Residential Real Estate’s Mason Quintana had the Bull Creek one.
Last week’s deals included three other homes around the Allandale area as well, ranging from $2.2 to $2.9 million.
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