Luxury list

Austin boasts biggest share of million-dollar homes in Texas, says study

Austin ranks 11th in the nation for share of million-dollar homes.

As a testament to the metro area’s soaring home prices, Austin leads Texas for the share of homes valued at $1 million or more.

An analysis of U.S. Census Bureau data by lending marketplace LendingTree found the share of owner-occupied homes in the Austin area valued at $1 million or more stands at 3.52 percent. That percentage — the share of all owner-occupied homes — puts Austin first among major metro areas in Texas and 11th among the country’s 50 biggest metro areas.

The analysis shows the Austin area has 14,226 owner-occupied homes valued at $1 million or more.

From November 2019 to October 2020, 1,534 luxury homes ($1 million or higher) were sold in the Austin area, according to the Texas Association of Realtors. That represented a 41.4 percent year-over-year increase in luxury sales volume and a 5.6 percent share of all residential sales volume in the region (based on dollar totals).

In May, the median home price in the Austin metro area reached an all-time high of $465,000, according to the Austin Board of Realtors.

Here’s how Texas’ other major metro areas fared in the LendingTree analysis:

Houston ranked 16th, with 2.26 percent of owner-occupied homes valued at $1 million or more (32,167 homes total).
Dallas-Fort Worth ranked 20th, with 1.94 percent of owner-occupied homes valued at $1 million or more (29,509 homes total).
San Antonio ranked 34th, with 1.19 percent of owner-occupied homes valued at $1 million or more (6,037 homes total).

San Jose, California, topped the LendingTree list, with 47.29 percent of owner-occupied homes valued at $1 million or more.

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Oxbow Overlook

13-acre estate north of Austin listed at $5.95M hits the auction block

Photo courtesy of JPM Real Estate Photography

Someone could buy this house for well under its listed value...or it may go well above.

A 13-acre waterfront estate about 60 miles northeast of Austin is being marketed in a very public way. Bidding on the Oxbow Overlook estate, about seven miles southeast of Belton, is scheduled to start February 13 on the Sotheby’s Concierge Auctions website.

Sotheby’s Concierge Auctions is an auction house for luxury real estate. The sale process will conclude February 28 when the estate is featured at ModaMiami, a luxury event hosted by South Florida’s Biltmore Miami-Coral Gables.

The property, at 8536 Armstrong Rd., is co-listed at $5.95 million by Debbie Stevenson of Kuper Sotheby’s International Realty. Bidding will start at $2 million to $2.5 million.

Oxbow Overlook estate The house sits on top of a drop-off.Photo courtesy of JPM Real Estate Photography

“This incomparable offering perfectly captures the essence of refined Hill Country living,” Stevenson says. “From its serene creekside setting and acres of privacy to its remarkable architectural details, Oxbow Overlook delivers a level of craftsmanship and lifestyle that is rarely available.”

Built in 2001 of native limestone and stone, the French Provincial-inspired main house boasts a 24-foot entry wall made of iron and glass, and a grand foyer crowned by a 31-foot copper dome ceiling. The ceiling hovers above an oak staircase with copper accents.

Oxbow Overlook estate Everyone who enters from the front door will be looking up.Photo courtesy of JPM Real Estate Photography

Other highlights of Oxbow Overlook’s nearly 7,000-square-foot main house include:

Six bedrooms
Five full bathrooms and two half-bathrooms
Seven fireplaces
Three laundry rooms
Wet bar
Eat-in kitchen
Elevator access to second story
Home office
Gameroom
Exercise pool with swim jets and spa
Outdoor kitchen
Covered and open patios
Coffered and beamed ceilings
Crown molding
Indoor and outdoor fireplaces
Generac backup generator

Oxbow Overlook estate Natural elements break up all the white.Photo courtesy of JPM Real Estate Photography

The property includes a separate 3,118-square-foot carriage house.

Oxbow Overlook is close to Belton Lake, Stillhouse Hollow Lake, Salado, and Temple.

“Designed to embrace its natural surroundings, creekside walls and outdoor living spaces conform to the bluff’s natural curve, offering spectacular views across the property and showcasing thoughtful conveniences at every turn,” Sotheby’s Concierge Auctions says.

Photo courtesy of JPM Real Estate Photography

Someone could buy this house for well under its listed value...or it may go well above.

home for sale auction mansion belton