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The Austin TX luxury home market was active in 2010. In Travis County, sales of homes priced over $1 million increased 5% vs. 2009. Just under 200 Austin luxury homes were sold in 2010 while the average size of homes sold decreased slightly, as did the time it took to sell a luxury home. On average, high end properties spent 130 days on the market.
Price per square foot paid was up 2% vs 2009 but is down 5% when compared to 2008 and down 10% when compared to 2007. Although sales were up 5% in 2010 vs. 2009, the number of $1 million + properties sold in Austin/ Travis County were 35% lower than in 2007. I think that 35% number tells the bigger story. Compared to 3 years ago, sales have dropped and so have prices for luxury homes. By no means has the bottom fallen out as is the story in some US cities, but clearly there are fewer sales, with lower prices.
Looking back over the past 5 years, 2007 was the peak in prices and sales numbers for Austin luxury homes. The number of 2010 sales looks like 2005, while the prices look more like 2006. Every neighborhood has its own story to tell and these figures are a broad look at single family home sales in Central and West Austin, Westlake Hills and Western Travis County.
If you are thinking of buying or selling an Austin luxury home, contact me or visit www.trueaustinluxury.com for a more detailed market report or to search Austin luxury homes for sale.
Jeff Harris
Broker
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Visit our website for more info on this and other Property in Austin
Neighborhood: Lake Ridge Estates Sec 03
MLS Number: 5693013
Lot size: 24,829 sq ft (.57 acres)
Gorgeous lot with lots of oak trees. A lot of Cedar trees have been taken out, leaving the beautiful oaks. Highly desirable Eanes ISD, minutes to the lake, waterfront park, swimming pool, boat launch. Lots of neighborhood amenities. With this size lot, built your dream home!
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If you are following TXDOT's plan to add toll lanes to Mopac Loop 1 Expressway from Parmer Ln. to Lady Bird Lake, then you might like to know that another open house is planned for December. I attended the last open house and got lots of useful information. TXDOT engineers and planners are available to talk to you directly about the proposal. When I attended in October, I found the TXDOT folks to be open to questions and happy to discuss all aspects. I even learned something about sound barriers(earth berms are best but not practical along a highway).
I urge you to attend if you want to offer input. I don't think the plan is final, but they are certainly leaning towards the toll lane option. This will be a pretty big construction project along one of Austin's busiest corridors. Open houses are being held on December 1, 2010 at O'Henry Middle School in West Austin and December 2, 2010 at Murchison Middle School in NW Hills. Both are from 6 p.m. until 8 p.m. They do pass out comment sheets that allow you to leave your written thoughts on the project.
You can also find out more at http://www.mopacexpress.com/.
Get involved. This is a big change to Austin's transportation infrastructure. They are planning on adding the toll lanes to the inside of the current lanes. This photo is looking north from around W. 35th street.

Search West Austin Homes For Sale
Jeff Harris
Broker
True Austin Properties
512-917-8142 call or text
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Last night, I attended the TXDot open houseat O'Henry Middle School to look over the plans for proposed toll lanes that would widen Mopac Expressway through West Austin. The toll lanes would run from Lady Bird Lake to Parmer Ln and essentially allow a fourth, limited access lane for the highway in each direction. I had several conversations with engineers and sound experts who say the plan is not final but is the best concept so far for relieving congestion in Austin. The entrance/exit points for the Mopac toll lanes are at the 5th/6th street area, 2222 and Parmer Ln.
The plans call for actually widening the roadway outside of its current boundary from about Enfield Rd. to Lady Bird Lake. They are talking about moving the highway over about 35 feet at that point. Most of what happens elsewhere, will be in the center of the highway and accomplished with restriping, although it seems to me that they still will have to expand the asphalt ribbon wider everywhere. They are proposing the wider Mopac near Enfield in order to accommodate flyovers to move people out of the toll lane and into downtown on the 1st/5th st ramp. I was told those Mopac flyovers would be minimum 16.5' high, and going southbound, a toll lane occupant would be able to merge with other southbound traffic or flyover southbound traffic and merge onto the 1st/5th ramp before it splits under Mopac. They are proposing to restripe and narrow lanes over Lady Bird Lake southbound to add another lane there so traffic doesn't bottleneck (their thinking, not mine). Northbound the flyovers are to get people from 6th or 1st(Ceasar Chavez) over existing Mopac lanes and then into the toll lane into the center.
In speaking with the noise mitigation specialist, she told me that sound walls are mandatory for a project like this so the only question is how high and where to exactly place them. She also told me the new surface they just laid over the roadway is designed to lower sound 5-9 decibels. Anything under 5 is really not discernable to the human ear but her task is to find every way to lower the sound coming from the the highway.
Obviously what happens to Mopac in Austin can have an effect on property values up and down the corridor, and potentially much farther if home buyers determine that their commute is easier due to an expanded highway that cuts commute time. For people like me, who live in West Austin within hundreds of yards of Mopac, we are concerned about sound and the impact on our neighborhoods. Most Mopac users are just passing through on their way somewhere else, yet those of us who live close, are impacted by others wants and needs to live and work farther out. It might be wise to examine other forms of transportation like rail or rapid bus lanes instead of just continuing to build freeways and promoting urban sprawl.
Check out www.mopacexpress.com to learn more. This plan is not set in stone and subject to change. Public input is encouraged. Mobility is a key issue that obviously effects real estate valuesin the city and the suburbs. Let TXDot hear from you.
Jeff Harris
Mortgage & Real Estate Broker
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