Austin Luxury Homes Hit High Prices, With Patience

Patience makes perfect.

Luxury homes spent an average of 126 days on the market last week, up from 88 days the week before, according to the Eklund Gomes Luxury Report, which tracks new signed contracts last asking above $2 million.

While the average price point of $4.36 million was a whopping 50 percent increase week over week, buoyed by a handful of abnormally high last-asks, deal volume declined to just eight new contracts. In all, the deals last asked $34.9 million.

The top contract was one of the largest deals to come across the MLS, if the closing price was close to the last ask. An 8,500-square-foot home at 1702 Barton Creek Boulevard crossed the finish line, last asking $10 million, or $1,181 per square foot. The six-bedroom, six-bathroom mansion sits on 4.3 acres in the Barton Creek neighborhood. It is designed to look like a home in the hills of Tuscany, with its red roof and limestone facade.

Eric Moreland of Moreland Properties had the listing. The property hit the market in April asking $11.75 million, and cut the price 15 percent in May.

In a distant, but still unusually high, second place is 2109 Griswold Lane. The 5,600-square-foot home last asked $6 million, or $1,065 per square foot. The property spans half an acre in Tarrytown and includes five bedrooms and five full bathrooms.

Shannon Windham of Gottesman Residential had the listing. When the property came on the market in March, it asked $6.75 million, and its price was cut in May.

Rounding out the top three was 607 Schickel Terrace, a 4,900-square-footer in Rough Hollow. The home, which sits on 0.71 acre, last asked $3 million, or $612 per square foot. Keller Williams’ Gregg Klar handled the listing on the newly built home.

A major selling point of the property is its large pool and indoor/outdoor space. It first listed in May for $3.26 million, and had its price cut three times since then.