Austin

Section: Money, Pg. 04b

In Austin, which claims to be the "Live Music Capital of the World," home sales are giving locals a lot to whistle about. The real estate market here often moves opposite to the national trend, and that's happening now. After the tech bubble burst in 2000, lots of people in Austin lost their jobs. As a result, the local real estate market drifted, even as prices in many other parts of the country rose to jaw-dropping records. Today, Austin is seeing double-digit gains, while sales in a lot of other cities are starting to sag. Such companies as Samsung, Dell and Oracle are hiring again, and the job market is strong. "That's what drives housing -- employed people," says Benny McMahan, president of the Texas Association of Realtors.

The most expensive Michael McCarthy, a local investor, is selling this home, built from a design inspired by a Vanderbilt family mansion in Newport, R.I.

Price: $13.5 million Bedrooms: 9 Bathrooms: 12 Size: 15,869 square feet Features: 10-acre waterfront property, boat house, guest house, outdoor kitchen, airplane hangar

The median price: Price: $165,900 Bedrooms: 3 Bathrooms: 2 Size: 1,610 square feet Features: gas-log fire place, laundry room and anearby community swimming pool

(c) USA TODAY, 2006