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uxury sales in Austin rebounded last week with 10 new contracts signed, a significant increase from the previous week's five deals. According to the Eklund Gomes Luxury Report, which tracks homes asking over $2 million, these transactions totaled $33 million, a substantial jump of $15 million from the previous week. All the deals were for single-family homes that spent an average of 107 days on the market.

    The most expensive deal was for a three-bedroom, three-bathroom mansion in Westlake's highest point, asking $5.6 million. The 4,780-square-foot home, designed by Dick Clark and Associates in 2010, sits on an acre with angular white walls reminiscent of a Hollywood Hills house. It first listed for $6.3 million in August.

    The second most expensive deal was for a massive 10,400 square foot home on 2.4 acres in Barton Creek, asking $8.7 million. The five-bedroom, five-bathroom house has been reduced in price several times since listing in July. The third spot went to a Pemberton Heights home asking just under $4 million, featuring five bedrooms and four bathrooms across 4,700 square feet.

    The Federal Reserve's interest rate cut is expected to boost homebuying, although its impact may be limited on the luxury market where buyers are less sensitive to mortgage rates.