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.