With 12 recorded transactions this past month, downtown Austin hosted 300% more transactions compared to April of 2009, when only four transactions were recorded. For the month of April, the average sale price per foot remains unchanged between 2009 and 2010 at $276psf.
To provide a little more perspective, Q1 2010 compared to Q1 2009 saw negligible increase to $304 psf from $300 psf, respectively. What is more interesting, IMO, last year in the first quarter of 2009 only 16 transactions were recorded; conversely, this year in the first quarter there were 33 transactions recorded!
This significant increase in recorded transactions, year-to-year, requires qualification. Numerous unrecorded (off MLS) developer sales occurred in 2009. Now, those buildings are sold out, and we’re seeing a surge in re-sale activity, which is recorded in the MLS. This bodes well for transparent transaction data. Re-sales are back, baby! This is a trend we should continue to see for a few years.
A more detailed transaction list and statistical report can be accessed in the member area.
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