BY THE NUMBERS: Downtown Austin Highrise Sales

BY THE NUMBERS: Downtown Austin Highrise Sales

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.

downtown austin real estate prices

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

ProjectDate 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)
TOTALS52171873%197
Four Seasons ResidencesMay 7, 20109914867%496March 2013
Spring CondosAugust 17, 200924724899%1 (5 reported)4June 2012
W Hotel ResidencesJanuary 10, 20119115957%684February 2013
The AustonianJune 10, 2010
84163
52%797November 2013
The data was assembled on May 1st, 2012. Only new construction sales counted. Data does not reflect units currently under contract. Combined units were divided into their respective original units.

 

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 11/23/14 10:06 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.