DAB Stats: Downtown Austin Sales

DAB Stats: Downtown Austin Sales

February delivered strong numbers for sales of downtown Austin condos.  I count nine new construction sales and 14 resales (compared to six and 10 in January respectively).

The 14 resales averaged $397 per square foot – the highest monthly average for resales that I can remember.  Don’t mistake this for accelerating appreciation, though.  Included in February’s numbers is a resale at the Austonian.  And, while there’s clearly a gradual upward trend in the resale market, February’s price-per-foot surge is attributable to this burgeoning market for resales in the top-tier buildings.

trailing 12 months of downtown condo sales

You can anticipate that by the end of March all of the top-tier buildings will [factually] be over 50% closed. Each has already crossed the chasm.

Notably, Spring condos has only a couple of new units left, the [seriously amazing] penthouse(s) being one of them.  For most buyers, Spring condos can be considered sold out and opportunities to buy are in the resale market.  The Four Seasons Residences leads the pack in terms of percentage of units sold, though the W Hotel Residences is showing the greatest velocity. See below.

[table id=29 /]

About Jude Galligan

Jude Galligan, REALTOR, Principal of TOWERS 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 has served on the Board of the Downtown Austin Alliance (DAA) and the City of Austin Downtown Commission. Contact Jude.

Comments

  1. Michael says

    Is there a place where the February sales and re-sales are disclosed? I appreciate the trending graph, but seeing the raw data would also be nice.

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