T
he summer sales season is winding down, but luxury real estate agents are still making significant deals. According to the Eklund Gomes Austin Luxury Report, which tracks properties listed above $2 million, eight signed contracts worth a combined $31.2 million crossed the finish line last week. These contracts averaged around $4 million each, or approximately $687 per square foot.
The top contract of the week was for a custom-built home located at 703 Loma Linda Drive in West Lake Hills, one of Austin's most affluent suburbs. This impressive six-thousand-square-foot property was last listed for $7.4 million or $1,233 per square foot. The five-bedroom, four-bathroom home features a stunning 500-square-foot terrace on its second floor and was completed in July by Seven Custom Homes. Darin Walker of Moreland Properties held the listing for this property.
Coming in at a close second was a beautiful four-bedroom, four-bathroom house located at 4601 Amarra Drive. This impressive 4,760-square-foot property sits on over an acre of land and offers a stunning view of Fazio Canyons Golf Course. The property is listed for $4.5 million and comes with a social membership at Barton Creek Country Club, making it a prime choice for golf enthusiasts. Robin Banister of Compass held the listing for this property, which was first listed in June for $4.7 million.
Rounding out the top three was a massive 10,400-square-foot mansion located at 67 St. Stephens School Road. This property boasts eight bedrooms and nine bathrooms spread across its 2.74-acre lot, making it one of the largest properties in Austin's suburbs.
In other news, the City of Mesquite has filed a lawsuit against an affiliate of Nitya Capital over alleged poor living conditions in one of their apartment complexes. Meanwhile, two East Austin multifamily projects have bucked the slowdown in new starts, signaling a promising future for the area's real estate market. Additionally, there have been some key moves in the local real estate industry, with Carter Bechtol moving to Triten and Jon Farris joining Stream Realty.
