Austin’s most-expensive listing takes $6.5 million price cut

A lakefront property that tied for the most-expensive listing in Austin last year now has a lower-cost option — with one less house.

The listing for 1404 Rockcliff Road is still available at its original price option of $19.5 million, but there is also an opportunity to buy the land for $13 million, with an unfinished home site for a second, primary residence. At just over $4,000 per square foot, that would still make it one of Austin’s priciest listings, but it’s a big drop from the top of the city’s luxury market. 

It is a unique listing, not just because of its price. The property comes with a 3,200-square-foot home just 15 feet from Lake Austin and a two-stall boat dock. Above the boats, there’s a lofted deck for lounging.

But the one-acre property is far from fully developed. The $13 million sale would come with permitted plans to build a 7,400-square-foot primary residence, according to the listing, so the eventual owner could use the existing home as a guest house or for lake purposes. Those permits could not be found in city records. The foundation slab and utilities are already in place for the new construction. 

Bridget Ramey of Kuper Sotheby’s has the listing. Ramey was also selling the fourth-most expensive home on The Real Deal’s list, an $18.5 million mansion at 7700 Highway 130 and 7744 North Farm to Market Road 973.

All things are relative, including this property’s price change. While the cut is big, the current asking price is still well above the $5.6 million it was seeking when it was removed from the market in 2020. 

Before the price chop, the property was tied for the most expensive listing with 12400 Cedar Street, a six-bedroom, 13-bathroom home on the banks of Lake Travis. That listing took a massive slash of its own after initially asking $45 million. 

Austin’s luxury market has grown significantly in recent years, with some ultra-high-end properties and even condos coming online, like the Four Seasons Private Residences Lake Austin. Still, high interest rates and market uncertainty have cooled the city’s residential market across price levels. 

This post has been updated with information received from Ramey after initial publication.

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