Downtown Austin Condo Sales

Downtown Austin Condos By The Numbers

Downtown Austin Condos By The Numbers

We love numbers here at DAB, and AustinTowers.net takes a look at average sale prices (per foot) for each building in Downtown Austin over the past 14 months.  You’ll find each building ranked by price/foot in descending order.  5 Fifty Five takes the top spot at $473/ft.  You might be surprised to see the Westgate show up at $325/ft.  Greenwood Towers sets the floor at $197/ft.

The most interesting result might be Plaza Lofts coming in at an average of $291/ft.  Plaza Lofts is the most centrally located of all downtown Austin condos.   These numbers have a back story, which is what I assist my clients with.  Over the past 14 months, the Plaza Lofts has been subjected to construction expectations.  Gables Republic Park was scheduled to begin construction next door to the South.  Andrews Urban/Novare were expected to push their Ovation project where the post office is located.  This would have killed many people’s views of the hill country.  It doesn’t appear that either of these projects will be complete within the next five years, if not longer.

Another key point to remember about Greenwood Towers, the least expensive Downtown Austin condo, its intrinsic value is significantly linked to the fact that the building sits on a land lease which expires sometime near 2050.

Complete AustinTowers.net Analysis (link)

Ranked in descending order:
5 Fifty Five, $473/ft
Nokonah, $442/ft
Brazos Place, $370/ft

Villas on Town Lake, $241/ft
Towers of Town Lake, $228/ft
Greenwood Towers, $197/ft

About Jude Galligan

Jude Galligan, REALTOR, Principal of REATX Realty and publisher of Downtown Austin Blog (aka. "DAB"), spends his time matching remarkable people with remarkable properties in Austin’s urban core. A resident owner in downtown Austin, Jude serves on the Board of the Downtown Austin Alliance (DAA) and the City of Austin Downtown Commission. Contact Jude.

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Based on information from the Austin Board of REALTORS ® (alternatively, from ACTRIS) for the period through 12/18/14 8:24 PM PST. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided “AS IS” and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

This IDX solution is (c) Diverse Solutions 2014.