BY THE NUMBERS (June): Downtown Austin Condo Sales

BY THE NUMBERS (June): Downtown Austin Condo Sales

downtown austin condo price trends

In June, we observed downtown Austin condo prices averaging $381/ft for resales and $590/ft for new-luxury sales. With no new projects planned, a chunk of downtown Austin’s condo inventory is removed every month.

Pricing in Austin’s urban core continues to trend up for three reasons:

1) Shrinking inventory emboldens sellers
2) Low interest rates – hovering at 3.40% – enticing buyers
3) Migration patterns into Texas, specifically Austin, more specifically downtown Austin

Combined sales of new construction and resales removed 41 units from inventory in June, representing $25,156,400 total sales volume.

Currently, there are 94 resales and 172 new construction units available for sale in the downtown Austin core.

downtown austin condo price trends

June 2012 Resale Statistics

- # of resale transactions = 28
- avg price per foot = $381
- avg sales price to list price (SP/LP) = 91%
- avg days on market (DOM) = 17 days
- Total resales volume =  $12,829,900

June 2012  New Construction Statistics

- # of new construction transactions = 13
- avg price per foot = $590
- Total new construction sales volume =  $12,326,500

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)
TOTALS29847063%172
Four Seasons ResidencesMay 7, 201010414870%446March 2013
W Hotel ResidencesJanuary 10, 20119715961%624February 2013
The AustonianJune 10, 2010
97163
60%666August 2013
The data was updated on July 1st, 2012. Any closings since then are not reflected. Only deed records counted. Data does not reflect units currently under contract. Deed records for parking spaces and storage units have been removed. Combined units were divided into their respective original units.




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…]





Based on information from the Austin Board of REALTORS ® (alternatively, from ACTRIS) for the period through 12/22/14 2:57 AM 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.