A $3.5 million spec mansion was Austin’s top public sale last week.
Recently completed by Austin homebuilder Heyl Homes, 4312 Amarra Drive went under contract after almost a year on the market, according to Douglas Elliman’s Eklund Gomes team’s Eklund Weekly Luxury Report Austin.
The sale price wasn’t disclosed, but the asking price — which comes out to $1,000 per square foot — didn’t budge throughout the listing, setting the home apart from other top Austin sales in recent weeks.
For example, the second-most expensive sale last week, a one-acre waterfront home asking $2.8 million on the day of the deal, had listed for $3.5 million in March, according to Zillow.
One of six Heyl Homes new builds in the Barton Creek neighborhood, 4312 Amarra Drive spans 3,300 square feet, with three bedrooms and two bathrooms. Keller Williams agent Tim Heyl, relative of Heyl Homes’ Pat, Danny and Mike Heyl, had the listing. Access to the Barton Creek Country Club was a primary selling point.
Tim Heyl is the founder of the proptech company Homeward, a power buyer model which offers homebuyers the ability to purchase their next property before selling their current home.
Heyl Homes borrowed a $2 million construction loan for the property, according to county records.
Although 4312 Amarra Drive is a single-family home, it’s in a development area established as a condominium regime by the Heyl Corporation, according to county records.
The Barton Creek neighborhood is one of the most expensive neighborhoods in Austin, prized for its natural beauty and the Barton Creek Country Club. Like other top Austin neighborhoods, it’s west of downtown.
Austin is one of the strongest buyer’s markets in the country, with sellers outnumbering buyers by 130 percent in September, according to Redfin.
Local agents report decreased demand for luxury after a dropoff in the tech industry migration that made Austin the state’s biggest boomtown during the pandemic. Earlier this year, Austin luxury had one of the highest median days on market in the country. As a result, price cuts have become common in the city’s top residential deals.
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