One of Austin’s top residential sales last week was a spec mansion that found a buyer after a price cut and 193 days on the market.
Built by the Kalantari Group, the 4,600-square-foot home at 2209 Bowman Avenue was asking $4.3 million, or $935 per square foot, when it sold, making it the second-most expensive residential sale in the city last week, according to the Eklund Gomes Team at Douglas Elliman. It was asking $4.9 million when it listed in March.
The home is in Tarrytown, an affluent neighborhood west of downtown and north of the river.
The top sale in Austin last week also had a price cut. The 4,800-square-foot waterfront home at 2503 Tydings Cove was asking $5.4 million, or $1,125 per square foot, when it sold, down from $6 million when it listed in July.
Moreland Properties had both listings.
Austin’s luxury market has been struggling, and its median days on market was among the highest in the country in August, according to Redfin. Luxury homes, measured as the top 5 percent of the market, spent a median of 80 days on the market in Austin, putting the city in fifth place nationally.
Austin was also the only metro in Texas to suffer a decline in homes sold, registering a 0.4 percent decrease from last August.
Several chart-topping sales in previous weeks had price cuts as well, including 1304 Bouldin Avenue and 1604 Barclay Drive, which went under contract the week of August 18 asking $5 million and $3.9 million, respectively; 702 Crystal Mountain Drive in mid-September, asking $3.3 million; and 4800 Mondonedo Cove and 1604 Bruton Springs Road in late September, asking $5.4 million and $5 million.Meanwhile, a new-build at 1001 Bluebonnet Lane sold at the end of August after a modest price bump to $3.4 million.
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