Homes in Brentwood Heights range from about $1.6 million to $1.9 million. CASCADE HOMES / URBANE ROOST

Austin Business Journal writes, "a handful of new luxury homes have started hitting the market in Central Austin’s Brentwood neighborhood.

Brentwood Heights, as the community is called, is a 1.4-acre, eight-home co-development from Cascade Homes and Urbane Roost, and the luxury residences come with a hefty price tag: $1.6 million to $1.9 million, according to an Aug. 17 announcement.

It's a price point that even those already living in Brentwood may struggle to afford. But new luxury homes for sale right beside older and cheaper properties is the direction Austin is trending in, Ashley Jackson, 2023 president of the Austin Board of Realtors. The Brentwood area is located a few miles west of where U.S. Route 183 meets I-35.

Two of the homes are on the market now, and the rest will follow in the coming weeks, according to the announcement.

The homes in Brentwood Heights have footprints that range from 2,673 to 3,168 square feet. Floor plans range from four to five bedrooms and 3.5 to 4.5 baths.

The two homes already listed — at 1406 Choquette Drive and 1401 Dwyce Drive — are 2,708 square feet and 3,162 square feet, respectively.

Located at 6800 Woodrow Ave., construction on Brentwood Heights began in February 2021 in the place of the former First Cumberland Presbyterian Church. First Cumberland sold the property in March 2020, according to Travis Central Appraisal District records.

The homes are now move-in ready, said Compass agent Darsh Parikh, who has the listing. Steve Zagorski and BSB Design served as architects on the project, and Urbane Roost served as homebuilder, Parikh said.

The median household income in the 78756 and 78757 ZIP codes, which touch Brentwood, were $87,985 and $87,434 in 2021, respectively, according to ABJ's latest list of wealthiest ZIP codes.

For reference, the median income level in the Austin metro is $122,300, according to the most recent market report from the Austin Board of Realtors. Housing economist Clare Losey said that income level generally allows buyers to purchase homes priced between $300,000 and $400,000.

However, Jackson said that building housing stock at different price points is increasingly common in Austin.

For example, Jackson said three different residences were added last winter to the Crestview neighborhood, which abuts Brentwood. One was a 3,000-square-foot, single-family house — which was three to four times larger than a typical home in that neighborhood — that sold for roughly $2.5 million. A few lots down, a developer replaced a 700-square-foot house with two attached dwellings priced at about $900,000 each. Jackson said that while $900,000 is still a hefty price tag, the the lower price point attracted "a different buyer than the $2.5 million."

Homebuyers are also able to find lower price points in the suburbs. Bastrop, Caldwell, Hays and Williamson counties in July had median home sales prices ranging from $298,048 to $428,350, while the median sales price in Austin was $550,000, according to ABOR data."


Source: Austin Business Journal

Written by: Cody Baird

Published: August 17, 2023


Posted by Grossman & Jones Group on


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