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?

[Read more…]





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…]