High-priced homes: Austin gets its first $1 million neighborhood

Austin’s rate of million-dollar homes is far from the dizzying levels seen in Silicon Valley.

But the Central Texas area has crossed a threshold seen in other affluent, booming metros: Austin has its first neighborhood where the median home price is at least $1 million.

That’s according to a report this week from Trulia, a real estate website and research company that’s owned by Zillow (Nasdaq: Z).

The Barton Creek neighborhood, which is southwest of downtown between Bee Cave Road and Southwest…

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