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$1,499,000

Last List Price

507 Terrace Canyon DR, Dripping Springs, TX 78620

4

beds

5

baths

4,150

sqft

1.56

acres

Single Family Residence

About This Home

A truly remarkable and elegantly designed residence on 1.56 acres in Dripping Springs, offering refined one-story living with a flexible upstairs bonus space. This new construction home features 4 bedrooms, 4.5 bathrooms, and approximately 4,000 sq ft of thoughtfully designed living space that blends luxury, comfort, and functionality. Inside, soaring 12-foot ceilings throughout create an open, airy atmosphere. The expansive living room is anchored by a dramatic fireplace and flows effortlessly into the heart of the home with an oversized chef’s kitchen outfitted with double islands, marble countertops, custom cabinetry, and a premium THOR stainless steel appliance package. A fully loaded butler’s pantry with abundant storage adds even more utility and style. The primary suite is a private retreat with high ceilings and a huge walk-in closet. The ensuite bathroom is timeless and serene, designed with premium finishes. Two additional downstairs bedrooms each feature designer en-suite bathrooms, while a third secondary bedroom on the main level also includes a full bathroom, ideal for family or guests. A dedicated study and powder room complete the main floor. Upstairs offers a flexible bonus room, perfect for a second living area, home gym, or media room, allowing this floor plan to adapt to your lifestyle. Step outside to the large covered patio with a built-in outdoor kitchen, offering the perfect space to entertain or unwind. The spacious backyard offers plenty of room to add a pool, giving you the opportunity to create your own Hill Country oasis. This is a one-of-a-kind custom floor plan in Dripping Springs, offering luxurious finishes, thoughtful design, and the space to make it your Hill Country dream.

Listings checked every few minutes. MLS# 5848779 was Last Updated: 10-14-2025.

Listed by Jenny Cureton, Compass RE Texas, LLC (512) 618-4966

Buyer Represented by Anne-Marie Cancienne, Intelligent Real Estate, Inc. (512) 710-6957

Neighborhood

Assigned Schools

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Listing courtesy of Unlock MLS as distributed by MLS Grid. The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but is not guaranteed accurate by MLS Grid or Unlock MLS.

What is the Sunset Canyon neighborhood like?

Sunset Canyon is located 25 minutes west of downtown Austin in Dripping Springs, with over 110 homes situated on 1+ acre lots overlooking the Hill Country. The established neighborhood combines Hill Country character with modern conveniences, offering median prices around $730,000. Homes range from 1980s construction to newer builds, many featuring expansive views and mature landscaping. The low tax rate and abundance of acreage attract buyers seeking stability and land ownership without premium pricing typical of closer-in master-planned communities. Properties in Sunset Canyon typically span 1+ acres with mature trees, spacious layouts for horses or agricultural projects, and direct views toward the Texas Hill Country landscape. Real estate values have declined approximately 14% year-over-year as of early 2026, with median days on market around 66-67 days reflecting a shift toward realistic pricing after the previous seller's market. The inventory situation in Dripping Springs broadly shows 8,000 permitted new residential lots across the jurisdiction, creating a buyer-favorable market with realistic pricing.

Explore Sunset Canyon

What employers are near 507 Terrace Canyon DR?

  • Austin-based tech employers (Technology)
  • Healthcare systems (Healthcare)
  • HEB (Retail)

How does this property compare to others in Sunset Canyon?

507 Terrace Canyon DR is listed at $1.5M vs. the $800K median in Sunset Canyon. The neighborhood average is $361/sqft. Homes in Sunset Canyon average 8 days on market.

MetricSunset Canyon
Median List Price$800K
Median Sold Price$818K
Average Days on Market8
Average Price per Sqft$361
Active Listings11

Market data as of May 2026.

Frequently Asked Questions

How much is 507 Terrace Canyon DR?

507 Terrace Canyon DR is listed for $1,499,000. It features 4 bedrooms, 5 bathrooms, 4,150 square feet, 1.56 acres. Built in 2025.

What neighborhood is 507 Terrace Canyon DR in?

507 Terrace Canyon DR is located in the Sunset Canyon neighborhood of Dripping Springs, Texas.

How does 507 Terrace Canyon DR compare to other homes in Sunset Canyon?

The asking price of $1,499,000 is 87.4% higher than the median home price of $800K in Sunset Canyon. At $361/sqft, it compares to the neighborhood average of $361/sqft.

What are the details of 507 Terrace Canyon DR?

507 Terrace Canyon DR was built in 2025, and sits on 1.56 acres of land, and is a single family residence style home.