Austin Luxury Homebuyers Taking Their Time

Luxury homes in Austin are finding buyers, but not quickly.

In the first week of December, the average days on market for luxury homes rose from 33 to 78 days, then jumped to an average of 96 days last week as listings mainly lie fallow ahead of the holidays, according to the latest Eklund Gomes luxury report.

Homes over $2 million found a total of $22.7 million in deals last week, $2.9 million more than the week before, for seven contracts, the same as the week prior, the report said.

Unlike the week before, each of these homes come with a pool, with two including access to nearby bodies of water.

Only one comes with three bedrooms, the least expensive deal struck last week: 1710 Palma Plaza in the Clarksville neighborhood, which asked $2.2 million, or about $850 per square foot, and was listed by Moreland Properties’ Amy Rung. The other six have four or more bedrooms, showing the larger, often family-ready homes in Austin’s luxury market are selling but haven’t been immune from the slowdown.

A stone estate took the top spot at 2104 Island Wood Road off an inlet of Lake Austin in Wood Island, a wealthy enclave between West Lake Hills and Bee Cave. Spanning three quarters of an acre, with a heated spa, covered boat slip and a gourmet kitchen with sea pearl quartzite countertops from Brazil. The home asked for nearly $5 million, over $1,000 per square foot. Darin Walker of Moreland Properties has the listing.

All of last week’s luxury deals were west, north or northwest of Austin proper, in the area between downtown and Lake Travis, along the Colorado River. It’s speckled with some of Austin’s wealthiest neighborhoods — like Barton Creek, where the second-priciest deal was made for a $4.25 million home with panoramic views of the surrounding area on a hill.

That house, at 4901 Peralta Lane comes with four bedrooms, each with an ensuite bathroom, a private courtyard and study, asking for almost $900 per square foot. It’s been listed by eXp Realty agent Meredith Alderson since April, taking no price cuts.