In light of the recent Statesman article highlighting new construction sales, I thought this would be a good time to update our trending chart for downtown condos.
Combined sales of new construction and resales of downtown Austin condos delivered a seasonally strong 46 transactions representing $26,720,149 total sales volume in March.
Currently there are 95 resales and 197 new construction condos available for sale in the downtown Austin core. That’s not many. Within the past 12 months, we’ve seen 201 resales and 186 new construction sales.
In the chart below, that little red trend line for average resale price per foot gets steeper each month as we see more resales in the top-tier buildings. By this time next year, you will be able to count the total availability of new construction condos on two hands.
March 2012 Resale Statistics
- # of resale transactions = 29 - avg price per foot = $364 - avg sales price to list price (SP/LP) = 97% - avg days on market (DOM) = 32 days - Total resales volume = $12,038,599
March 2012 New Construction Statistics
- # of new construction transactions = 17 - avg price per foot = $554 - Total new construction sales volume = $14,681,550
Downtown Austin New Construction Closings
| Project | Date of 1st Closing | # of Closed Units (Clerk) | # of Original Units (TCAD) | % Units Closed | # of Remaining Units | Average # of Days Per Sale | Trending Completion Date (estimated) |
|---|---|---|---|---|---|---|---|
| TOTALS | 521 | 718 | 73% | 197 | |||
| Four Seasons Residences | May 7, 2010 | 99 | 148 | 67% | 49 | 6 | March 2013 |
| Spring Condos | August 17, 2009 | 247 | 248 | 99% | 1 (5 reported) | 4 | June 2012 |
| W Hotel Residences | January 10, 2011 | 91 | 159 | 57% | 68 | 4 | February 2013 |
| The Austonian | June 10, 2010 | 84 | 163 | 52% | 79 | 7 | November 2013 |
About Jude Galligan
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