Home News The Most Expensive Home in Texas Just Got a $10 Million Price Cut

The Most Expensive Home in Texas Just Got a $10 Million Price Cut

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Once on the list of the most expensive in Texas, the Austin compound is back on the market with a whopping $10 million markdown.

The 21-acre mansion overlooking Lake Travis first went public in April for $45 million, according to listing records. This listing was taken down just over a month later and was back on the market last week with Compass’s Gary and Michelle Dolch.

Austin has benefited greatly from pandemic migration, with the city attracting more tech talent and buyers considering moving to states with no income tax. However, due to economic headwinds such as rising borrowing costs, inflation and stock market volatility, Big discounts on many ultra-luxury homes.

Additionally, Austin’s median per square foot increased 1.3% annually in October compared to a 24% annual increase in February. According to Redfin.

In fact, the property’s size and location are “valuable for the right buyer,” Dolch said in an email.

“There are no other 20+ acres of waterfront land in the area, so there is a premium for potential further development.” It costs well over $800 per foot.”

According to the listing, the Mediterranean-style mansion known as Villa del Lago has six bedrooms, seven bathrooms and six powder rooms. There are also five fireplaces, a library, a wine cellar and a massage room.

But the “core of the house” is the four-story dome in the center, Dolch points out.

“The volume that the dome gives the room is impressive,” he said. “[It] Highlight stunning views of Lake Travis and the surrounding hills. ”

The property also features a more than 3,000-square-foot entertainment pavilion, with two bars, a fireplace, and sweeping views of the lake and a “big Texas sunset,” according to the listing.

The mansion’s covered lanai also has lake views, and the house also has a games room, bar, cinema and billiards area.

Cascading waterfalls and caves are carved into the hillside, and the property also features a negative edge pool, an outdoor kitchen and a fire pit, the listing says. There is also a private custom boathouse, the agent added.

“Because this facility is located in the main catchment area of ​​Lake Travis, the water depth is much deeper than anywhere else on this massive 84-mile-long lake,” Dolch said.

The property last traded in 2018 when it went public for $13.5 million. Mansion Global was unable to determine the final price as Texas is a non-disclosing state. The seller could not be reached for comment.

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