One of the Memorial Villages’ most notable properties has returned to the market with a $1.4 million price cut.
Listed at $8.9 million ($512 per square foot) in February, the 17,400-square-foot mansion at 10950 Beinhorn Road in Hedwig Village is now asking $7.5 million ($431 per square foot), the Houston Business Journal reported.
The price drop comes on the tail of summer slowdown in the Houston residential market. Single-family home sales in Greater Houston fell by 8.3 percent year-over-year in August, with inventory reaching its highest level in over a decade, according to the Houston Association of Realtors. However, the luxury market, which includes homes priced at $1 million and above, saw a 2 percent rise in sales during the same period.
The mansion was the first project by Jessica Lisenby’s Legacy Development Group. It was completed in January after starting construction in 2022, and it is the largest home to be built in the Memorial Villages area.
The property features six bedrooms, eight full bathrooms and three half-bathrooms, spread across 0.75 acres. The two-story home has a primary kitchen and a catering kitchen, each fitted with top-tier appliances. The primary suite includes a two-story lounge and an expansive closet, while the guest suite is designed as a “home within a home,” featuring a kitchenette and living area.
Outdoor amenities include covered patios, fireplaces, a summer kitchen and a pool. Other features include a full-house generator — a must-have for luxury buyers in storm-prone Houston — plus an elevator and a three-car garage. The property is fully fenced and has two security gates.
Houston’s luxury market is on the upswing, in alignment with national trends.
There were seven ultra-luxury sales, involving homes priced at $10 million or more, in Houston last year, a year-over-year increase of 75 percent. Sales of homes over $1 million shot up by 34 percent at the peak of the spring buying season, with robust interest in areas like River Oaks and The Woodlands.
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— Andrew Terrell