Historic home

Hollywood star’s charming Bouldin Creek house hits market for $1.85 million

This house when it was purchased in 2012.

After pouring money into upgrades, actor Elijah Wood of The Lord of the Rings fame has put his 130-year-old Bouldin Creek home on the market for $1.85 million.

Wood bought the classic Victorian home, at 608 W. Mary St., in 2012 for $1.075 million. The three-story, 3,285-square-foot home features four bedrooms and four-and-half bathrooms. In the eight years Wood has owned the home, he has made both interior and exterior improvements.

“Austin’s a really special place — it has everything you’d want out of a big city … and yet it also feels like a small town,” Wood told Texas Standard in 2016.

The listing says a restoration and subsequent remodels completed in 2009 and 2011 — before Wood purchased the house — “resurrected the home’s grandeur.” The work showcases details such as ornate hand-carved trim, solid wood banisters, an original antique doorbell, elaborate door casings and millwork, and original longleaf pine floors.

The first floor comprises two sitting rooms; a formal dining room; a bathroom; and a gourmet kitchen with Carrara marble countertops, a Viking range, a Bosch dishwasher, a wine fridge, and a wet bar.

The second floor contains three bedrooms. The main suite features Carrara marble tile, a frameless glass shower, and a freestanding clawfoot tub.

The top floor comes with a fourth bedroom and a view of the downtown skyline. And other amenities include two wraparound porches, a detached two-car garage, and 11-foot ceilings.

Hotel magnate Conrad Hilton built the home in 1890 in the town of Marlin, southeast of Waco. Marlin, once a popular resort destination known for its natural hot springs, was the site of Hilton’s eighth hotel. The house eventually was moved to its current location in South Austin, near the bustling South Congress Avenue strip of shops and restaurants.

Austin broker Blake Taylor has the listing.

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real estate report

How Austin fits into Zillow's predicted housing market growth in 2025

Photo by Justin Wallace on Unsplash

Potential homebuyers in Austin may see improving mortgage rates and home prices in 2025, according to Zillow.

It looks like a few more people are about to turn their online home shopping daydreams into reality in 2025. Zillow, the famous real estate listings website, says in a press release that next year will likely bring "a gradual but bumpy decline in rates, impacting sales and price growth."

It attributes the forecast to "erratic and dramatic mortgage rate movements" throughout 2024, which will continue to affect the market. The website's housing market predictions report estimates that 2025 will see about 100,000 more sales than 2024, that home value growth will be "low and slow" at 2.2 percent, and that inventory and new listings will continue recovering from pandemic weakness.

On a local scale, Zillow's latest data shows Austin has already experienced a 3.4 percent drop in annual average home values from 2023 to 2024, which will continue fluctuating in 2025.

As of November, Zillow's home value index says the average home in the Austin metro is worth $443,995. That figure is greater than the Austin Board of Realtors' median home sales price in Austin-Round Rock-San Marcos, which came out to $435,000 last month, reflecting an estimated 2.4 percent increase for just the month of November year-over-year from 2023.

Pick the right season to buy
Potential buyers may see better opportunities for purchasing a home during the fall and winter, which is a typically slow season for home sales. Across 36 out of the 50 biggest U.S. metro areas, Zillow's heat market index showed a drop in competition from October to November.

"There's a strong sense of déjà vu on tap for 2025. We are once again expecting mortgage rates to get better gradually, and opportunities for buyers should follow, but be prepared for plenty of bumps on that path," said Zillow chief economist Skylar Olsen in the release. "Those shopping this winter have plenty of time to choose and a relatively strong position in negotiations."

Zillow suggests buyers may have the ability to negotiate "from a position of safety" during the slow winter months. This is especially true for Austin-area buyers, who only saw 10.4 percent of homes sell for more than their listing price in October. The website says buyers can take advantage of opportunities to buy contingent on inspections or repairs, and they may avoid bidding wars during this time.

"While the number of options available to shoppers today are lower than they will likely see in the spring, there's also less competition in the field," the report says. "The [national] share of homes that sold for more than list price was below 28 percent in October (the latest data available), continuing a downward trend that began in July."

Buyers will head to the Southwest
Eyes are also turning to the American Southwest as the top region for homebuyers in 2025, as 13 major metro areas – including Austin and San Antonio – are now considered “buyer’s markets” where buyers have more negotiating power than sellers.

However, this prediction depends on the gravity of falling mortgage rates. Homebuyers should also keep a close eye on mortgage rates in 2025, which could drop unpredictably like they have been for the last three weeks in a row. If the rates dip further than expected, that doesn’t bode as well for buyers.

“It is anticipated that a significant mortgage rate dip would bring more buyers than sellers back to the market, increasing competition and tilting negotiating power in favor of sellers,” Zillow says.

Small-home living is gaining traction
As Austin and other major cities are battling for more high density housing, buying trends are also leaning towards smaller (and more affordable) homes.

Zillow even goes as far to say that the “pandemic-era need” for large houses is officially a thing of the past.

"The term 'cozy' is appearing in more listing descriptions — 35 percent more in 2024 compared to 2023 — reflecting current design trends that have shifted away from cavernous open floor plans, toward contained spaces that have their own style and purpose," the report says.

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