Luxury sales bounced back last week, marking one of the busiest in Austin’s luxury market in recent months.
Agents reeled in 10 new contracts, five more than the week before, according to the Eklund Gomes Luxury Report, tracking deals last asking more than $2 million. Together, the homes last asked $33 million, some $15 million greater than last week’s total. All the deals were for single-family homes, and they spent an average of 107 days on the market.
The most expensive deal was for 1704 Mount Larson Road, a three-bedroom, three bathroom mansion in Westlake. The home last asked $5.6 million and sits on a hill at one of the neighborhood’s highest points. It resembles a house in the Hollywood Hills, its angular white walls cutting out from a leafy perch.
The 4,780-square-foot home sits on an acre and was designed in 2010 by Dick Clark and Associates. Darin Walker of Moreland Properties had the listing. It first hit the market in August, asking $6.3 million.
The next most expensive signed contract appeared on the list previously, but that deal fell through because the “buyer could not perform,” according to the most recent listing. 7849 Escala Drive is a massive 10,400 square feet on 2.4 acres in the Barton Creek neighborhood. It has five bedrooms and five full bathrooms. Gary Dolch of Compass had the listing.
Since listing for $8.7 million in July, the price has been cut several times, including a nearly 3 percent cut this month.
Taking the number three spot was 1411 Hardouin Avenue, a Pemberton Heights home last asking a hair under $4 million. The five-bedroom, four-bathroom house was taken down to the studs in 2007. It spans 4,700 square feet on a little over a quarter of an acre.
The Federal Reserve’s decision to cut interest rates last week is expected to spur homebuying, though its impact may be smaller on the luxury market, where buyers can be less sensitive to mortgage rates.
Read more
Storm clouds or silver bullet? Texas real estate reacts to rate cut
Bojangles, retail, office condos cropping up at Tuscan Lakes
Jacobs chairman lists Uptown pied-à-terre for $3.3M
