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- 🤠🏡 Selling Austin #53
🤠🏡 Selling Austin #53
Ultra-Luxury Takes Off 🔥 + NYSE: Texas vs. TXSE 🛎️
Kirtana Reddy
February 21, 2025
Hi y’all, welcome!
Inside: Ultra Luxury Takes Off 🔥+ NYSE: Texas vs. TXSE 🛎️
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(*unbiased opinion)
WHAT'S INSIDE
🔢 THE DATA
👋 Hi, I’m Kirtana!
I’m an ex-dentist turned Realtor - let’s work together! Email me, tweet me or send me a carrier pigeon. 🐦️
It’s hard to balance news of the housing affordability crisis and the meteoric rise of luxury homes in Austin.
It’s looking like it will be a very hot spring:
A new $14 million listing came on the market last week (if you don’t want to wait - check it out here). This is another in a string of 33 homes above $2M that hit the market.
Analysts expect increased competition and inventory at this price point as we head into the spring. These luxury homes aren’t sitting around on the market like they used to - 8 deals ranging from $2.1-10M have closed in the last week.
Total days on market has shortened; from 117 to 77 days two weeks ago, and down to 54 days last week.
The priciest sale - just under $10M off of Lake Austin:
🤠 WHAT’S HAPPENING AROUND TOWN
This is simply too interesting for me not to share:
The New York Stock Exchange announced last week it will launch NYSE: Texas in Dallas. The Texas Stock Exchange (TXSE) - a new venture - backed by BlackRock, Citadel and Charles Schwab is seeking regulatory approval and also plans to launch in Dallas.
To clarify, mainly for myself, there are two listing markets, both launching in Dallas. NYSE: Texas and Nasdaq have dominated the listings market since the 2000s. TXSE would be the first significant challenge to this unchecked duopoly (plural of monopoly - who knew).
Image from The Dallas Morning News
Why Texas?
NYSE President Lynn Martin said “As the state with the largest number of NYSE listings…Texas is a market leader in fostering a pro-business atmosphere.”
How do TXSE and NYSE: Texas feel about each other?
Neither group has directly responded to requests for comment.
“We have known all along that Texas is the best place to do business,” the spokesperson for TXSE said in a statement following the news. “The Texas Stock Exchange is harnessing this momentum to build a national securities exchange in our home state.”
What’s next is still unclear - but Texas continues to be a force in all aspects of business.
Read more here.
⁉️ WHAT THIS MEANS FOR YOU
If you’re a buyer/seller/investor/renter or just interested in real estate - this weekly newsletter will help guide your decision making and help you better understand the market.
Buyer - You will see increased inventory in the coming months - Do not expect exceptional properties to sit on the market - we are seeing quick movement on prime homes | Seller - How to avoid common listing pitfalls: 1) Any realtor can list your house but not every realtor will be honest with you about what your home is worth. Listing at a dream price or what it was worth back in 2021 is a mistake. Many agents will accept listings any your desired pricepoint. The result? You will continuously slash the price will lose both time and money. Ask questions - review comparable properties and be clear on why you’re listing at a certain price point 2) Specific renovations: you don’t need to gut your home to get top dollar. Exterior + kitchen renovations see the highest ROI. Be clear with $ spent vs. $ gained. Again, review comparables with your agent to guide decision making. | Renter - Seeing big complexes offer 6-8 weeks free |
🤤 HOUSE WORTH DROOLING OVER
Boat slips might be new status symbol in Austin + the view speaks for itself.
Yours for $13,995,000
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