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DAB STATS: September Residential Transactions

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Chill out.  Cool off.  It’s not just the weather, but the market chilled in September yielding a stellar month for downtown Austin buyers.  In September, the average sale price of a downtown Austin condo was $282 per square foot.  This is based on 12 recorded transactions in the Austin MLS.   Year-to-year comparison shows last month was down from $338 per square foot across 20 transactions in September of 2009.  Month-to-month, September was down from $298 per square foot across 16 transactions recorded in August.

Highlights:

-Speaking of cooling off: hell froze over in September as the Statesman, frequently antagonistic to high rises, published an upbeat review of the downtown luxury market.

-A cartoon reminded us of an all too familiar exchange.

-We saw a glimpse of 2006 with a genuine bidding war on a bank owned unit at Brazos Place.

Top Tier Summary:

Not reflected in the MLS data are developers’ direct transactions at the top-tier buildings.  According to TCAD, the Austonian shows eight closings, which is one more than last month.  At the W Hotel Residences, with 159 total units, we’re told that 60% of the units are under contract, and the ability to now get into the building has been increasing contract velocity to 3-4 per month.  We’ve been informed that at the Four Seasons Residences ~40 units have closed, with another 40 under contract.

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

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DAB STATS – August Residential Sales Summary

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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

Downtown Austin Open Houses

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downtown Austin open house listings for Sunday, August 15th
(Got the wrong week? Click here)

  1. 1705 Pearl St, 3bd/2ba, $550,000 2-4pm [Moreland Properties]
  2. 1800 Lavaca St, Greenwood Towers # 608, 2bd/1ba $146,000 2-4pm [Green Mango Real Estate]
  3. 904 West Ave, 904 West #211, 1bd/1ba $193,300 1-4pm [Urbanspace]
  4. 1212 Guadalupe, Penthouse Condos #401, 2bd/2ba $215,000 2-4pm [Green Mango Real Estate]
  5. 510 W 18th St, Chestnut Square #113, 1bd/2ba $259,000 1-5pm [Capital City Sotheby’s Realty]

Expand your home search using DAB’s map-based Austin Property Search


When you’re done with the open houses, you can enjoy an afternoon on Lady Bird Lake by renting a canoe or kayak from at the Texas Rowing Center. Or, dine al fresco at Annie’s Cafe on Congress Ave for breakfast, lunch, or dinner.  Make sure to checkout my transaction report from July and discuss with a Realtor who lives and works in downtown Austin.

-Jude

Downtown Austin Open Houses

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downtown Austin open house listings for Sunday, June 27th

  1. 800 W 5th St, Austin City Lofts #505, 2bd/2ba $530,000 2-4pm [AvenueOne]
  2. 360 Nueces St, 360 Condos #3011, 2bd/2ba $599,900 1-3pm [Urbanspace]
  3. 360 Nueces St, 360 Condos #1311, 2bd/2ba $429,900 1-3pm [Urbanspace]

When you’re done with the open houses, you can enjoy an afternoon on Lady Bird Lake by renting a canoe or kayak from at the Texas Rowing Center. Or, dine al fresco at Annie’s Cafe on Congress Ave for breakfast, lunch, or dinner.  Make sure to download my transactional report from May (registered members only) and discuss with a Realtor who lives and works in downtown Austin.

-Jude