Is Austin Bicycle Theft On The Rise?

Is Austin Bicycle Theft On The Rise?

austin-stolen-bike

There were more bike thefts reported in the heart of downtown Austin during the first five months of 2011, compared to 2010, according to city police records I compiled. However, reports are down in the South Congress area.

I know this because I decided to do my best Council Member Chris Riley impression — sans silver hair — and work on reducing my car usage in favor of pedal power to commute to the Capitol area. I bought a bike over the weekend, did some research and promptly shelled out another $200 for accessories, aimed mostly at anti-theft.

[Read more...]





Downtown Austin Condo Transaction Report For April (And March, Sort Of)

Downtown Austin Condo Transaction Report For April (And March, Sort Of)

march data

In April, I didn’t publish a transaction summary covering March’s downtown deals.

I had assembled all the info, drafted the post, and it was ready to publish.  Some of you noticed that I never got around to posting it, and I’m sorry for not getting it out there (here’s to you John K.).

Jude, why u no post March data?

First and fortunately, I was at the tipping point of having more business than I could handle.  Springtime is always busy for me.  Combine that with opening the RE/MAX Downtown Austin office and I got distracted, operating on little sleep.

Secondly, I couldn’t come up with a headline for March!  March’s data didn’t seem to have a compelling story.  March’s data seemed too predictable.  That spooked me – what was I going to write about?  DAB readers have built up filters to exaggerated headlines, but readers do expect a story.  You should expect some insight.  What’s the story?

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Downtown Austin: Census Data In Perspective

Downtown Austin: Census Data In Perspective

2010 downtown austin census blocks

Anyone who knows what a construction crane looks like knows that downtown Austin experienced phenomenal growth between 2000 and 2010. The 2010 Census confirms what we could see: Census tract 11 (which includes the CBD and Rainey Street) more than doubled in population, from 2,386 to 5,512. And that excludes dense developments that most would consider part of “downtown,” including Gables Park Plaza, the Monarch, Spring and Nokonah, all within Census tract 12. Add these and Downtown’s growth was even more impressive. [Read more...]





W Hotel Residences Begins Closings In January As Downtown Austin Condo Sales Rise Higher

W Hotel Residences Begins Closings In January As Downtown Austin Condo Sales Rise Higher

w austin residences grand opening downtown austin blog

The most significant downtown Austin condo news from January must be the first closings at the W Hotel Residences (aka Block 21 Residences).  The W is the last of the luxury high rises to open, and these closings represent a significant milestone for the downtown Austin building boom.  Naturally, the proud new owners are taking possession from the lower floors going up.  Occupancy is permitted up to the 24th floor, currently.  Prices at the W Hotel Residences are firmly placed into our “top-tier” category with starting prices at [Read more...]





Downtown Austin Condo Prices On The Rise in December

Downtown Austin Condo Prices On The Rise in December

downtown austin condo stats december 2010

1) Price Per Foot, and 2) Number of Transactions (monthly, Jan-Dec 2010)

The downtown Austin loft & condo market hit many milestones this year: 1) Austonian opened 2) Four Seasons opened 3) W Hotel residences approached completion.  Downtown hosted over $60MM in resale transactions during the year.  Moreover, to the surprise or chagrin of some, buyers are flocking to the top-tier buildings.  We close out 2010 with 38 closed transactions in the month of December – 18 resale, and 20 direct to developer.

The above chart shows downtown austin condo resale trends based on monthly data from 2010.  Direct to developer transactions are not shown on the chart.  The most salient trend we can glean from this data is the average sales price hovering steadily ~$300 per square foot.

Details after the jump… [Read more...]





Choice Downtown Austin Block Purchased For $21.75MM

Choice Downtown Austin Block Purchased For $21.75MM

travis-county-purchases-downtown-austin-amoa-block-200

Travis County will purchase a tract of downtown Austin land owned by the Austin Museum of Art for $21.75MM, according to InFactDaily.  Located directly south of Republic Square Park, it is certainly a choice piece of dirt. Currently a surface level parking lot, this land has everything going for it, most importantly it is not subject to a Capitol View Corridor. [Read more...]





DAB STATS – August Residential Sales Summary

Oh, August.  TGIF.  It’s been so friggin’ hot!

August and December seem to be the two months when real estate is not a priority for most families.  It’s vacation time.  Back-to-school time.  And, in Austin, Texas it’s violently hot.  So hot that downtown Austin’s walkability loses some of its romance.

In August we recorded 16 transactions, with the average sale price of a downtown Austin condo hovering around $298 per foot.  Once again, this is consistent with recent evidence that shows +/- $300 per foot seems to be a homeostatic equilibrium for downtown Austin.

Of the top-tier buildings, TCAD shows 11 7 closed units at the Austonian.  The W Hotel Residences are approaching completion.  The Four Seasons Residences TCAD entries have yet to be divided into individual records.  TCAD can take 30 days to update.

You can search for Austin condos and lofts using our map-based viewer.  Registered members of DAB can download a complete statistical and transaction report here.

-Jude





DAB STATS: July Transaction Summary

In July of 2007 we recorded 14 transactions at an average of $353psf.

In July of 2008 we recorded 11 transactions at an average of $289psf.

In July of 2009 we recorded 13 transactions at an average of $267psf.

In July of 2010, we recorded 12 transactions at an average of $314psf!!

What insights can we glean from four years of July transaction data?  Based on my experience this year, I would say those numbers show that [in aggregate for downtown] a bottom had been reached, and we’re returning to normal where average prices hover around $300psf.

If developers reported sales (they don’t, but if they did), July’s closed Sabine units would nullify the effect of the higher priced closings at the Austonian, Spring, and Four Seasons.  Also, at least two of July’s transactions were deeply discounted transactions at Milago and yet the average numbers are still strong.

The market continues to place a premium west of Congress Avenue, as transactions at Austin City Lofts and 360 condos exceed $400psf.  Feedback from my clients indicate this premium is a reflection of these buildings’ proximity to a mix of retail uses and to Whole Foods.  As inventories of new construction continue to dwindle, the average buyers’ expectations are beginning to come back inline with a healthy resale market.

An example of a great buy in July:  Milago #423. A 2bd/2ba corner unit at tree level with city views for $300,000.  The seller took a hit on this one and originally paid $382,500.  Also, I’m bullish on the Rainey Street District, future improvements to Waller Creek, and the desirability of living near the trail for couples/families.

What does the buyer who prioritizes value do now?  Be prepared.  Get pre-qualified for a mortgage.  Be ready to pounce on the random short sale or bank owned property.  I seem to find 1-2 each month.  Forget about foreclosure auctions in downtown – they simply do not happen with any regularity, and 99% of the time the bank takes back the property and lists it on the MLS market where they can get closer to market rates.  Of course, you can go to the courthouse to see for yourself.  Or, you can just contact me.

Registered members of DAB can download a complete statistical and transaction report here.

-Jude





Based on information from the Austin Board of REALTORS ® (alternatively, from ACTRIS) for the period through 8/30/14 4:55 AM PDT. 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.