Austin Luxury Home Contracts Hold at Nine; Volume Rises to $30 Million

Nine Austin homes and condos listed at $2 million or more went under contract in the week of Oct. 12, matching the prior week, according to the Reisor Team Weekly Luxury Report. Total volume rose to $30 million, up $3 million week over week. Single-family homes on the list averaged $740 per square foot, 141 days on market and a $3.1 million listing price. The priciest deal was a $5 million, 2,900-square-foot three-bedroom condo at the Austonian in Downtown Austin, or $1,700 per square foot, listed by Moreland Properties' Trey Phillips. Michael Reisor, founder of the Compass-affiliated team, said recent condo sales have skewed to the high end, with buyers seeking top amenities and established buildings. "It's not the time for a discount condo," he said. The top single-family contract was a 4,800-square-foot West Lake Hills home listed at $4.6 million.