Austin’s most expensive listing, 1404 Rockcliff Road, recently took a significant price cut of $6.5 million. The property was originally listed for a whopping $19.5 million, but is now available for $13 million.
Located on the shores of Lake Austin, the estate boasts a 3,200-square-foot lakefront home with stunning views, along with a two-stall boat dock and a lofted deck above the boats for lounging. While the price cut is substantial, it’s still one of the most expensive listings in Austin, with a per-square-foot price of just over $4,000.
There are two ways to purchase the property: for the full $13 million, which includes the existing home and the unfinished homesite for a second, primary residence; or for $9.5 million, which includes just the existing home and the 1.02-acre lot.
The price cut on 1404 Rockcliff Road reflects the recent slowdown in Austin’s luxury real estate market. High interest rates and market uncertainty have cooled demand for high-end properties, even in a booming city like Austin. However, the property’s unique location and amenities could still attract a buyer willing to pay a premium.
Here are some key takeaways from the price cut on 1404 Rockcliff Road:
- The Austin luxury real estate market is cooling, but there is still demand for unique properties.
- Buyers may be able to negotiate better deals on high-end properties.
- The future of the Austin luxury real estate market remains uncertain.
If you’re interested in learning more about Austin’s luxury real estate market, I recommend checking out the following resources:
- The Austin Business Journal
- The Real Deal
- Austin Luxury Homes
Rock Properties Realtors® live, work and office in the Austin-Round Rock MSA, near Cedar Park, Georgetown, Hutto, Leander, Liberty Hill, Pflugerville and Taylor. If you are buying or selling real estate, including residential, commercial property or land, Rock Properties will provide you excellent service based on 20 years of real estate experience in and around Williamson County Texas. Call us at 512-850-4510.