Luxe Austin Homes - luxury real estate

"Austin's luxury real estate market brought in $4.1 billion in 2024"

CultureMap Austin shares, "A new 2024 report from Texas Realtors has revealed the number of homes that sold in the state for $1 million or more increased 10 percent from last year to reach its second-highest peak ever recorded.

According to the report's findings — which calculated sales data from November 2023 to October 2024 — Texas' luxury real estate market accounted for $21.4 billion in economic activity. The period from November 2021 to October 2022 still holds the current statewide record, which is $22.6 billion.

A total 12,888 homes sold for at least $1 million during this time, which represented nearly 16 percent of all Texas residential home sales.

May 2024 was the busiest month for Texas' luxury home sales. Nearly 1,580 homes were…

1292 Views, 0 Comments

"Construction to gain steam at luxury Lake Travis master-planned community Thomas Ranch"

Austin Business Journal reports, "The expansive Thomas Ranch luxury housing development on Lake Travis has secured $106 million in financing for construction of infrastructure and initial homes in the master-planned community.

Thomas Ranch developers Areté Collective and the Wasatch Group will use the loan, underwritten by D.A. Davidson’s Development Finance Group, to complete roadwork, water and wastewater treatment plants and other infrastructure at the 2,200-acre development along State Highway 71 near Spicewood, according to a Dec. 3 announcement. The financing also will support construction of the first homes in Loraloma Private Club & Estates, a luxury enclave within Thomas Ranch where homes and homesites are now available.

At full…

601 Views, 0 Comments

"Lots for sale in second phase of luxury Lake Travis community called Travis Club"

Austin Business Journal shares, "About 50 more homesites are available in one of Austin’s most expansive luxury housing developments along the shores of Lake Travis.

Travis Club, which has generated more than $100 million in homesite sales, now has 48 more homesites on offer, representing the second phase of the sprawling project, according to an announcement from its developers. Infrastructure construction for the first phase of the 1,500-acre site, co-developed by California-based real estate developer Haas & Haynie Corp. and Austin-based real estate investment firm Castle Hill Partners Inc., is already underway.

Travis Club, located near Briarcliff west of Austin, will have 700 homesites once complete, along with an 18-hole golf course and…

689 Views, 0 Comments

"Where wealthy people live"

Austin Business Journal writes, "In his 2005 State of the City address, then-Austin Mayor Will Wynn — fresh off leading the Downtown Austin Alliance — had a goal of 25,000 people living in downtown Austin.

At the time, about 5,000 people called the Central Business District home. Almost 20 years later, downtown is still far short of that goal but growth has ramped up as thousands of new apartments and condos rise toward the sky. 

The DAA now pegs downtown's population at about 15,000. Almost 900 were added last year, DAA reports. They come for the high-rise living, entertainment, quality restaurants and urban hike-and-bike trails.

It's an appealing package if you can afford it — the downtown ZIP code, 78701, is now the wealthiest in the area…

425 Views, 0 Comments

"Million-dollar markets: America's most expensive ZIP codes for housing"

Austin Business Journal writes, "California's 94027 stands alone when it comes to the nation's most expensive ZIP codes for housing.

The typical home value in 94027 - Atherton, which is located near San Francisco, was $7,711,460 in March 2024 — leading the way among all ZIP codes in America.

That’s according to research obtained for The Business Journals Wealthy 1000, a recent ranking of the nation's wealthiest ZIP codes based on a weighted formula that looks at numerous wealth metrics, including typical home value data from Zillow.

California's 94027 stands alone when it comes to the nation's most expensive ZIP codes for housing.

The typical home value in 94027 - Atherton, which is located near San Francisco, was $7,711,460 in March 2024…

552 Views, 0 Comments

"Luxury home prices hit a new high, more 'starter' homes now cost $1M"

Austin Business Journal reports, "The U.S. luxury housing segment has bucked some of the trends affecting the rest of the residential real estate market, in large part because those buyers and sellers are less affected by affordability issues.

But like the broader housing market, luxury homes continue to see a surge in prices. In fact, luxury home prices hit a new high in the second quarter of this year, with a typical home in the category selling for $1.18 million, an 8.8% increase from the same quarter last year, according to Redfin Corp. data.

Redfin defines luxury homes as those estimated to be in the top 5% of their respective metro areas, based on market value, while non-luxury homes are estimated to be in the 35th to 65th percentile based…

801 Views, 0 Comments

"More wealthy households are moving to Texas than nearly any other state"

CultureMap Austin writes, "In a state where it takes much less than $1 million in yearly income to live among the top one percent, it's no wonder America's most affluent are flowing in. More of them are choosing to move to Texas over almost every other state, according to a new relocation study by SmartAsset.

To determine where high-earning households are moving, SmartAsset analyzed IRS data from the 2021-2022 tax year, the most recent year for which data was available. The inflow of high-earning households in each state was then compared to the outflows to determine net migration.

Texas had the second-highest net inflow of affluent households – defined as those with an adjusted gross income (AGI) of $200,000 a year – out of all 50 states in the…

416 Views, 0 Comments

"The Modern Austin Residences Tops Out in the Rainey Street District"

Towers Austin shares, "The 56-story Modern Austin Residences condo tower project celebrated its official “topping out” this week, with the building now reaching its maximum structural height of 658 feet at the northeast corner of Davis and Rainey Streets on the north end of the Rainey Street District in downtown Austin. It’s just one of multiple tower projects currently redefining the skyline of this neighborhood, which already contains the densest residential population in downtown and is set to gain hundreds more homes in the years to come — including 320 new residences at the Modern, with 21 of those condos income-restricted under the district’s affordable housing requirements.

The tower’s topping off obviously represents a milestone for the…

577 Views, 0 Comments

"Travis Club sells $90M in homesites, infrastructure construction underway"

Austin Business Journal writes, "A luxury housing development on the shores of Lake Travis has pulled in more than $90 million, all before a single home has been built.

At Travis Club, a sprawling 1,500-acre housing development being co-developed by California-based real estate developer Haas & Haynie Corp. and Austin-based real estate investment firm Castle Hill Partners Inc., about three-quarters of the homesites available in the project’s first phase have been sold, according to an announcement. And, with infrastructure construction is underway, phase two homesites will soon be available.

Travis Club, located near Briarcliff west of Austin, will feature 274 single-family lots and 223 villa units, listed between $800,000 and $3 million,…

397 Views, 0 Comments

"Exclusive | The Sand Dollar House Near Austin Lists for $1.99 Million"

The Wall Street Journal writes, "In Texas, a circular, lakeside home with a roof that looks like a sand dollar is hitting the market for $1.99 million.

Located in the city of Lakeway, which is just outside of Austin, the roughly 2,300-square-foot home is perched on a bluff that overlooks Lake Travis.

The sellers are Karena Dawn, co-founder of the fitness brand Tone It Up, and her husband, Bobby Goldstein. The pair came across the home while boating on Lake Travis. When they found out it was for sale, they bought it for an undisclosed price in 2021.

“Anyone who has boated on Lake Travis in the last 40 years has looked up at it,” said the listing agent, Michelle Jones of Compass. She shares the listing with her colleague,…

623 Views, 0 Comments