Ones to Watch

'Supernova' Austin snags a No. 1 spot on competitive real estate markets to watch list

Austin was the best U.S. market for homebuilding prospects, according to the list.

Austin hasn't exactly been flying under the radar, least of all its housing market. Even among the top in the nation — and even as things start stabilizing — it still stands out. That's in the eyes of the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC), anyway.

The two entities recently released their "Emerging Trends in Real Estate" report for 2024, placing Austin at No. 1 for homebuilding prospects and No. 5 overall out of 80 total cities.

The 45th edition of the report arranges markets into four major groups with further subcategories: Austin is a "Magnet," meaning that both people and companies are moving in. It belongs to the "Supernovas" subgroup, signifying that it is among the fastest-growing cities in the report, although the growth for these cities does tend to be slowing. The "Supernovas" burst onto the national scene about a decade ago.

There were five "Supernova" cities on the list:

Nashville (No. 1 overall)
Austin (No. 5)
Raleigh/Durham (No. 9)
Jacksonville (No. 36)
Boise (No. 41)

San Antonio also made the top 10 overall, but was classified as a "Magnet" and a "Super Sun Belt" city. This category reflects that the city is "large and diverse but still affordable," and points out that warm weather is a draw. It also mentions "lower regulations and taxes" and "a virtuous cycle between population in-migration and corporate relocations, which feed off each other."

This was San Antonio's debut on the list, and it was right behind Austin in the homebuilding prospects list, on which it scored No. 2. Austin fell one place overall since last year's report.

It appears that Austin's "Supernova" status had a hand in San Antonio's growth, since the Alamo City is the capital's largest out-migration market — in other words, more people are moving from Austin to San Antonio than to any other city ranked on the list. Most of the people moving in to Austin are, as many already know, Californians from Los Angeles and San Jose.

Another recent study found that Austin has the top three fastest-growing "affordable" suburbs in the country: Georgetown, Kyle, and Leander in order from fastest to less fast.

Elsewhere in Texas, Dallas-Fort Worth made Nos. 3 and 5 overall and for homebuilding prospects, respectively; Houston made Nos. 11 and 7. These cities, like San Antonio, were both part of the "Super Sun Belt."

No matter how it shakes out, it looks like it's good to be in major Texas cities right now.

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a barton creek paradise

$15.2 million Austin sanctuary is in the middle of a nature conservancy

The Sanctuary on Barton Creek, Austin home for sale

Photo courtesy of Peyton Skinner

The Sanctuary on Barton Creek sits on 24 acres of untouched Hill Country land.

Living on an expansive estate teeming with untouched nature and vegetation may seem like a priceless dream, but a lavish property in West Austin has a cost in mind: $15.2 million.

Photo courtesy of Peyton Skinner

The Sanctuary on Barton Creek sits on 24 acres of untouched Hill Country land.

The Sanctuary on Barton Creek is a 24-acre estate with an Austin address, although it is located near Bee Cave, a Hill Country suburb. The entrance of the property is double gated, and the area is completely surrounded by a 4,100-acre nature conservancy to provide a peaceful and private escape from the ever-changing landscape of the Texas capital.

The 7,931-square-foot main house contains seven spacious bedrooms, five full bathrooms, and one half bath. The listing, managed by Douglas Elliman sales agents Jeanne Parker and Julie Mack, describes the modernly updated home as a place where "elegance and comfort intertwine seamlessly."

The Sanctuary on Barton Creek, Austin home for sale The estate is a private and peaceful oasis.Photo courtesy of Peyton Skinner

The new Wolf appliances in the state-of-the-art chef's kitchen is a primary example of the sophisticated upgrades that have been completed on the residence. The primary bathroom has also been completely remodeled, where the next owners can be enamored with the privacy of the Hill Country while enjoying luxurious baths in the standalone soaking tub.

Another key feature of this home is its abundance of fireplaces, which can be found in bedrooms, living areas, balconies, and outdoors.

The property is also suited for hosting friends and family with two additional buildings: A fully equipped guest house, and a lofted "executive lodge" that can be used as additional guest quarters, game room, or executive office.

Like the rest of the residences on the estate, the executive lodge has breathtaking views of the Hill Country that can be admired from the spacious balcony or large windows. The space sits above a three-car garage that comes with a pull-through for a RV and a dog washing station.

The Sanctuary on Barton Creek, Austin home for sale The spacious executive lodge also comes with a kitchenette, making it suitable for hosting guests or using as an office.Photo courtesy of Peyton Skinner

All of the residences open up to the backyard pool area where guests can relax under the covered veranda, the patio, or take a dip in the resort-style custom designed pools. There's plenty of outdoor activities to enjoy if exploring the property's untouched 24 acres is a more appealing alternative to sitting by the pool.

"Enjoy honey made from the hives on the property which provide not only an agricultural exemption, but also promote a healthy environment for everyone," the listing says.

Guests are also welcome to go fishing or paddle boarding in Barton Creek, where the estate has more than 200 feet of grassy shoreline access to the water.

The property is zoned for Lake Travis Independent School District, and is situated just minutes away from the Hill Country Galleria in Bee Cave.

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