Austin Luxury Report Volume No. 9 September 28th 2020

  • Dillon Fleharty
  • 10/12/20

VOLUME 9. September 28 to October 4th  2020

 

There were 55 contracts closed last week at $1 million and above.  50 were single-family homes not located on lakefront property, only 2 were single-family located on lakefront, and there were 3 condos in the mix.

Nerd Alert:  While this is only the 9th report, it marks the first time there were more condos than lakefront property. Also one notable piece of data is that there were 0 homes closed on that are located on Lake Austin, a first for the report as well. Even more interesting is there were also 0 contracts signed, or marked as pending, for any Lake Austin properties last week, also a first for this report.

Notable Closings:

20317 Rod and Gun Club Rd Unit #3 was hardly in the top of the rankings when it comes to price. However, the data surrounding it is interesting. It closed at the full asking price of $1,495,000 with a whopping $1,346 per square foot! While at first glance that is an impressive number, it’s lacking some context. The property is located on 9.4 acres of land located on Lake Travis in Spicewood. Obviously it is the dirt that is what is driving the price per foot up, but I find it important to mention this property as all too often someone may read the price per foot and equate that only the improvements to the land.

Top Closings:

The #1 single-family home was 3804 Desert Flower, closing at $5,250,000, -1.9% less than the original listing price of $5,350,000. The home is located in Westlake and featured in the 2019 AIA Home Tour. It was built by Shoberg Homes and designed by McCollum Studio Architects. The home is 5 bedrooms, 6 bathrooms, and 5,945 square feet. Listed by Eric Moreland of Moreland Properties the home was on the market for 162 days.

The #1 Condo was 200 Congress Ave Unit #40AC, closing at $2,215,000, -8% less than the original listing price of $2,399,000. The condo is located in the Austonian Condominiums. The condo is 2,689 square feet, and has 3 bedrooms, 3.5 bathroom, and located on the 40th floor offering unparallel views of Lady Bird Lake and the Hill Country. Listed by Eric Moreland of Moreland Properties the condo was on the market for 544 days.

 

 

 

 

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