Two Austin properties landed on the list of the most expensive Texas homes on the market in June.
The Houston Association of Realtors released its latest monthly listings June 27 for the priciest homes in the Lone Star State. The listings are of publicly marketed properties, not those on the private market, which typically are much more expensive.
For June, the most expensive listings spanned from Houston to Dallas and included Austin, Highland Park and the Woodlands. The homes ranged in price from $12.5 million to $50 million.
The priciest of the two Austin properties is a listing on 2810 Scenic Drive, with a $25.5 million asking price. Built in 2008, the house in the Tarrytown neighborhood has 8,791 square feet of living space.
The other listing is at 1905 Hallam Drive. The house is in a private West Austin enclave called Scenic View and has two gated entrances. With an asking price of $12.5 million, the house was completed this year and has almost 8,000 square feet of space, six bedrooms and seven full bathrooms.
Amy Deane with Moreland Properties is the real estate agent on the $25.5 million listing.
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Located on a private cove overlooking Laguna Gloria and designed by renowned architect Ryan Street, the nearly 9,000-square-foot home has five bedrooms and 5½ bathrooms. Originally completed in 2009, the home has undergone a complete makeover. Among its features: a main bath with his-and-hers closets, a game room, a sunken home theater, a library and office, a meditation room, a pool bath, sauna and cold plunge, a four-car garage, a guest suite and an elevator.
“We have seen substantial interest in 2810 Scenic Drive and have received multiple offers to date, so we feel optimistic the right buyer will emerge when timing is right,” Deane said. “High net worth sellers aren’t selling in this market because they don’t have to. They are locked into very low interest rates and know that they have a hot commodity.
“Buildable land on Lake Austin in a desirable neighborhood like Tarrytown close to downtown is limited and construction costs are 30% to 40% higher than they were five years ago, so my seller is comfortable waiting until we find the right buyer. To create a similar property like 2810 Scenic Drive, you’d be looking at a timeline of over three years. Similar land prices are $10 million-plus, construction costs range between $1,000 to $1,500 per square foot, and that doesn’t include architecture, engineering, landscaping, audio visual or carrying costs.
Deane said luxury sellers can afford to wait for the right buyer who recognizes time is money.
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“While luxury buyers are less sensitive to rates,” she said, “I see luxury sellers in our market standing firm on sales price knowing that when rates come down, buyer demand will increase. In addition to interest rates causing a slowdown, an election year tends to put buyers in a holding pattern.”
Taylor Wilson, president of Austin-based Taylor Wilson Construction, built the Hallam house. Wilson also is the developer of Wilson Tower, a high-rise he plans to start construction on next year in downtown Austin.
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Located next to the Wild Basin Wilderness Preserve off Capital of Texas Highway (Loop 360) and Bee Cave Road, the Hallam house “is truly a move-in ready masterpiece” in the West Lake Hills area and desirable Eanes school district.
“The beauty of this location is quick access to Loop 360 from the Far Gallant gate to the west, and the other gate is down Scenic View Drive. … So you can get to downtown/central Austin on one side, and on the other 360/Bee Cave Road. Best of both worlds,” Wilson said.
Here’s what else Wilson had to say about the Hallam house, and the local housing market.
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“Taylor Wilson Construction has built and sold six luxury homes within the sold-out Scenic View community. Hallam Drive is our grand finale; the last remaining home in the community.
“With only 20 estate sites, Scenic View offers a close-knit neighborhood atmosphere featuring private sidewalks and greenbelts. We have sold six previous homes in this neighborhood and are proud to finish the community with 1905 Hallam.”
Wilson said the floorplan features windows that open to several stone terraces, including a sunken area overlooking the pool pool, and hillside views. The residence also has a separate cabana with full bath and kitchenette plus a pool bath.
Eric Moreland, Austin luxury real estate broker and owner of Eric Moreland Group with Moreland Properties, is marketing the Hallam Drive listing.
Moreland said new custom homes, especially in the desirable central West Lake Hills area, are selling about two to three times more frequently than homes built a decade or so ago.
“The Scenic View neighborhood is new, privately gated and centrally located in the Eanes school district with very little inventory available making it ultra desirable in our marketplace,” Moreland said.
In its most recent annual luxury home sales report, Compass, a luxury residential real estate brokerage, said that three “ultra-luxury” homes — those priced at $10 million or more — changed hands last year in the Austin region, in sales where a Compass agent represented a buyer or seller. The three sales totaled $34.4 million, according to the report, released in February.
At that time, Beth Drewett, a luxury agent with Compass, said the Austin area has “some pent-up demand” and predicted that many luxury buyers will step off the sidelines this year.
“In 2024, Austin will remain a magnet for diverse ultra-luxury buyers — tech entrepreneurs, entertainment elites and investors in pursuit of exclusivity,” Drewett said. “Their attraction stems from the city’s vibrant culture, strong economy and a lifestyle blending urban sophistication with nature. Demand for luxury homes reflects this varied taste, from the limited number of Lake Austin waterfront properties within close proximity to downtown as well as estates showcasing breathtaking Hill Country views.”
In 2022 and 2021, Compass reported four sales each in the ultra-luxury price range by its Austin-area agents, although none in 2020, the year the pandemic hit.
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Along with the Austin properties, here are the other eight homes that rounded out the most expensive listings statewide in June:
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107 Timberwilde Lane (Houston) — $49,985,000
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10777 Strait Lane (Dallas) — $40,000,000
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3630 Willowick (Houston) — $24,750,000
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3996 Inverness Drive (Houston) — $15,495,000
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3709 Euclid Ave. (Highland Park) — $15,299,000
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4000 Gillon Ave. (Highland Park) — $13,500,000
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5414 Edlen Dr. (Dallas) — $13,200,000
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88 Grand Regency (the Woodlands) — $13,000,000
More: Why Austin is still among top U.S. markets for ‘ultra-luxury’ homes
This article originally appeared on Austin American-Statesman: See which Austin homes are among the priciest Texas listings in June
Source Agencies
