downtown Austin's real estate and neighborhood blog
Two years ago, DANA rolled out the first Neighborhood Watch signs in downtown Austin. This year, the signs are being updated with the improved skyline. Thanks to Ken Cobb for providing, and fitting, the posterized picture of the downtown skyline.
With 12 recorded transactions this past month, downtown Austin hosted 300% more transactions compared to April of 2009, when only four transactions were recorded. For the month of April, the average sale price per foot remains unchanged between 2009 and 2010 at $276psf.
To provide a little more perspective, Q1 2010 compared to Q1 2009 saw negligible increase to $304 psf from $300 psf, respectively. What is more interesting, IMO, last year in the first quarter of 2009 only 16 transactions were recorded; conversely, this year in the first quarter there were 33 transactions recorded!
This significant increase in recorded transactions, year-to-year, requires qualification. Numerous unrecorded (off MLS) developer sales occurred in 2009. Now, those buildings are sold out, and we’re seeing a surge in re-sale activity, which is recorded in the MLS. This bodes well for transparent transaction data. Re-sales are back, baby! This is a trend we should continue to see for a few years.
A more detailed transaction list and statistical report can be accessed in the member area.
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We’re supporters of preserving significant properties in Austin, Texas. After years of decay, it appears that one such property is heading down the road to recovery, thanks to some passionate Austinites. Live in Austin long enough, and eventually you’ll notice that abandoned bungalow structure on top of a hill at I-35 and Riverside.
Located at 1012 Edgecliff Terrace (gmap), the “Norwood House” didn’t always look this way. Perched above the dog park, this property has majestic views of downtown Austin. In 1985 it began to suffer the cruel bureaucratic fate of cost cutting, once the City of Austin took control.
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Around this time last year, DAB reported on Posse leader, Wolf Sittler’s work to bring private funds to the aid of restoring the house for the benefit of the city. KXAN is reporting that enough money has been raised to begin removing asbestos roof.
One [great] idea being discussed is turning this into a rentable banquet space. PARD is certainly open to the idea, and those cash flows could help finance the renovation. Right now that’s just optimistic thinking and the Norwood House needs your support. For more information, you can contact Wolf Sittler via www.restorenorwood.org.
-Jude
Hi Facebook,
Welcome to Downtown Austin!
You’re moving into your new office digs today [Monday, May 3rd] and we hope you’re as excited to be in our neighborhood as we are to have you. Please make sure to support our local businesses like Royal Blue Grocery, Annies on Congress, The Hideout Theatre, Alamo Drafthouse, Wild About Music, and Estilo. As you’re getting settled in you can get to know our various districts including, 2nd Street, Rainey Street, West 6th, East 6th, and the Warehouse District.
It’s easy to enjoy downtown Austin, but it’s also easy to take for granted Austin’s natural amenities. So make sure to enjoy our Green Belts, McKinney Falls, Hamilton Pool, and Barton Springs.
-Jude