March 21, 2018 | In the News
Austin Real Estate Breaks New Record with DMTX Realty Sale of Waterfront Estate
AUSTIN, TX (March 21, 2018) — A new record has been set with the recent sale of a luxury estate on Lake Austin. The property sold for $12.3 million, making it the highest ever price tag for an Austin, TX MLS residential listing. Three other past sales in the top five were classified as ranch properties with acreage starting at 128 acres.
The Austin real estate market has been strong but this sale represents a new milestone. Located in the coveted Watersedge luxury community, the waterfront home was positioned toward the southern end of a strip of land, flanked by bluffs and ostensibly on its own gated peninsula. The 7,663-square-foot home is widely regarded as one of the most private estates on Lake Austin.
Constructed in 1987, the six-bedroom, seven-bathroom estate underwent an extensive renovation in 2011, led by the award-winning Austin architect, Michal Hsu, also known for his work on the recent South Congress Hotel project. The Watersedge estate was represented by Dave Murray, Broker, REALTOR® of DMTX Realty, Coldwell Banker United, REALTORS®, and Mons Anderson, REALTOR®.
Marketing Director Jonathan Berry, of DMTX Realty, noted on the significance of the sale.
“We have seen home values rise the last several years, and with the influx of tech people and the prominence of startups in the city, there is a growing market for high-value estates,” said Mr. Berry. “On the luxury side of things, we are not quite to Malibu or San Francisco level prices, but this represents that the ceiling is still to come for upper echelon luxury. People want to be in Austin.”
Broker Dave Murray is in the Top 1% of Austin area brokers, and has sold some of the most high-profile properties in Austin and Central Texas— including Austin’s Acqua Villa on Lake Travis, and Patron de Paz Ranch of Dripping Springs, TX.
“A sale of this magnitude is thrilling for Austin. It shows that ultra-luxury home buyers consider Central Texas to be an in-demand location to invest,” said Dave Murray.
Coldwell Banker United, REALTORS® is a leading residential real estate brokerage company with eight offices and approximately 320 affiliated agents serving the Austin community. Real estate agents affiliated with Coldwell Banker United REALTORS are independent contractor agents and are not employees of the company. Coldwell Banker United, REALTORS is part of NRT LLC, the nation’s largest residential real estate brokerage company. For more information, visit ColdwellBankerHomes.com.