A waterfront estate in Austin has been listed for $11 million, as a decline in the number of potential buyers is leading more luxury property sellers to use public listing services. The property, located at 11941 Overlook Pass, spans eight acres and features a 4,000-square-foot main house, a guest house, and a party hall designed in a saloon style. It is one of the few properties with direct access to Barton Creek.
Douglas Elliman agent Jeanne Parker, who is handling the listing along with Julie Mack, said that building on Barton Creek presents challenges. “It’s difficult to build on Barton Creek,” Parker stated.
Parker and Mack believe the future buyer will value privacy and family amenities. Parker noted, “Three of the best private schools in Austin are within a 10- to 15-minute drive of this property.”
Mack added that the area attracts high-profile residents seeking seclusion. “A lot of celebrities live there, a lot of professional athletes, because of the privacy. They don’t like drones following them around, and you can’t do that here,” she said.
Although luxury homes have typically been marketed privately by agents, Mack explained that fewer buyers are prompting more listings on public platforms like MLS. Recent market data indicates Austin has one of the highest median days on market for luxury properties nationwide. Toward the end of the summer season, there were more than two sellers for every buyer in Austin’s real estate market.
As competition increases among sellers, price reductions are becoming more common for luxury homes in the area. The two priciest homes sold through MLS last week had both reduced their asking prices before selling; one remained on the market for over 190 days.
While marketing highlights nearby private schools as an advantage for families, most interest so far has come from retired grandparents rather than families with school-aged children. Single-family homes are attracting more luxury buyers compared to condos. Parker suggested this may be due to fewer tech workers moving into Austin as industry demand shifts back toward coastal cities.
“During the pandemic, we had a lot of people coming in from California, which raised the prices, and that has slowed down,” Parker observed.
Mack added: “Most of our people are coming in from New York, New Jersey, Chicago, probably for tax reasons.”
Recent reports show continued softness across Texas’ ultra-luxury residential sector as high-end homes struggle to sell amid changing economic conditions and increased inventory (https://therealdeal.com/texas/2025/09/25/texas-most-expensive-homes-are-struggling-to-sell/). In Austin specifically, developers have paused some new condo projects while existing units take longer to move (https://therealdeal.com/texas/austin/2025/08/14/austins-luxury-condo-boom-hits-pause-as-market-digests-glut/). This environment favors buyers—especially those seeking single-family estates—while putting pressure on sellers to adjust pricing strategies (https://therealdeal.com/texas/austin/2025/07/29/austin-strongly-in-a-buyers-market-especially-for-luxury-condos).
