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Austin’s luxury real estate market is growing at breakneck speed and showing no signs of slowing anytime soon. Real estate agents in the city say their business has accelerated dramatically over the past year and that high-end homes are seeing multiple offers; they stay on the market for a few days at best.
“Austin’s real estate market is history in the making,” said Crystal Olenbush, co-owner of AustinRealEstate.com, an upscale property company. “From mid-February to mid-March alone, home values rose 25%.” Olenbush adds that her company sold around $ 108 million in homes in the first four months of last year – that number rose to around $ this year $ 228 million.
Another boom evidence: Scott Michael, an Austin agent at Compass, says he completed 61 luxury home transactions in 2020, up from 30 the previous year.
While Michael says the average price of a “beautiful” home in Austin is about $ 750,000, there are far more expensive properties up for grabs today. For example, longtime Austin resident and renowned interior designer Fern Santini recently unveiled a $ 16.25 million mansion she built in collaboration with local and global artisans; Star brokers Fredrik Eklund and John Gomes from Eklund / Gomes have the listing.
Many of Austin’s recent buyers are transplants from San Francisco, Chicago and New York, moving to the city for their business-friendly practices that include no corporate tax, high quality of life and excellent schools.
This is followed by seven high-end homes for sale in Austin today – judging by recent moves, they probably won’t be on the market for long.
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