While Austin home prices have gone up and inventory has gone down over the past few years, there continue to be perfectly good homes in the city core, luxury and otherwise, that just can’t seem to land a solid offer.
Take these five listings: All are in sought-after locations and offer modern updates or period features in good condition. And the longer they linger on the market, the more their prices come down. At what point do they finally nab a committed buyer?
Days on market: 204
Square feet: 2,716
Recent price reductions: This three-story Travis Heights condo listed in June for close to $1 million and has had three price cuts resulting in a whopping $300,000 total drop.
The gist: The contemporary home in a prime location is both convenient to Downtown and other central-city location and offers some big views from its upper windows and balcony. Its clean lines and energy efficiency are enhanced by such luxury features as craftsman finishes, D’Hanis brick, hardwood flooring, reeded glass, and Grohe fixtures.
Days on market: 370
Square feet: 1,628
Recent price reductions: The home is being sold by it owner and was listed in January 2018, briefly delisted, then relisted in March 2018, all at its current asking price.
The gist: An East Side home by design-build company KRDB, which specializes in modern-contemporary builds in the area, the one-story house is on a large lot and backs to green space. It also has 10-foot ceilings, two skylights, concrete floors, and solar electric and is steps from the MLK MetroRail station. It was built in 2005, during an era that has not always worn well stylistically, but the simple design means decorative updates could address easily any aesthetic issues the buyer might have.
Price: $639,000, HOA dues $180/month
Days on market: 206
Square feet: 2,519
Recent price reductions: Listed in June 2017 at $659,888, the Crestview condo had one price cut in October 2017 and has held there ever since.
The gist: While a little retail-adjacent, the two-story home is almost new (built in 2016) and overall conveniently located to major roads and walkable/bikeable attractions on North Lamar Boulevard and West Anderson Road. It has a bounty of windows, a gourmet kitchen, and a small, fenced yard.
Days on market: 281
Square feet: 2,299
Recent price reductions: The single-family home was listed for $839,900 in February 2018 and has had four price drops to its current ask.
The gist: This midcentury Allandale house (one of many in the neighborhood) was built in 1965 and, while it clearly needs some updating, has a number of period details intact. It’s a bit surprising that a fan of the style hasn’t snapped it up, especially since the large lot includes a short stretch of Shoal Creek and is shaded by big oaks.
Price: $7.45 million
Days on market: 281
Square feet: 6,046
Recent price reductions: When we featured this stunning property in 2017, it was asking $10.3M. It looks to have been relisted at $9.2 million in 2018 and has since had three reductions to the current ask.
The gist: Right, it’s quite pricey—but this gorgeous Bercy Chen remodel on a waterfront lot between Lake Austin and Bright Leaf preserve shows off what the well-known local design-build firm does best: combine materials in surprising ways that interact with the surrounding environment. With its indoor-outdoor flow of equally fabulous spaces on both sides of the walls, as well as features such as a curved-walled media room, a playroom with a climbing wall, a library, and a rooftop garden, as well as one for growing edible plants, it has to be someone’s lakeside dream house.