Search Results for: austonian

Crossing The Chasm: A Perspective On New Construction

Jude Galligan | September 13, 2011 |

Because I’m a real estate geek, I’m continuously looking at sales metrics, updating my databases, and endeavoring to uncover useful information. In this post, I’m attempting two things: 1) offer some perspective on sales in downtown Austin’s high profile buildings, and 2) predict when those buildings will approach being completely sold. If you just want the data then skip to the end.

One of my mentors shared with me an insight: the first buyers are innovators – early adopters that fill up the bandwagon and help throttle the acceptance of something new. It applies to new real estate development, as much as it does to new technologies.

Now that the cranes are long gone, where are the new construction projects in their sales cycles? [Read more…] about Crossing The Chasm: A Perspective On New Construction

Second Bar + Kitchen in Downtown Austin

AG | June 18, 2011 |

Second Bar + Kitchen is aptly named for it’s Congress Ave @ Second Street location. But don’t think for a second that the food isn’t first-rate (wakka wakka!).

On a whim, I ventured over to Second a couple of Sundays ago (after a morning coffee at the Austonian’s Caffe Medici) and was pleasantly surprised by the food and the atmosphere of the restaurant. I was seated on the second story, which was a small, covered balcony with simple tables and faux grass carpeting: [Read more…] about Second Bar + Kitchen in Downtown Austin

Downtown Austin Condo Sales Remain Strong In May

Jude Galligan | June 7, 2011 |

For the first time since the bubble burst, the average price per square foot of a downtown Austin condo has increased four months in a row. Last month, downtown Austin closed 62 condos* with 29 more pending!

Highlights

In May, we counted 41 closings of new-construction condos from the Four Seasons Residences, W Hotel, Austonian, Spring Condos, and Barton Place. The W takes the cake with 15 closings in May.

On the other hand, the number of resales comes in at 21 units closed – a strong showing – averaging a price of $334 per square foot. We also count 29 resales pending as of May 31st! So, we can expect next month’s closing count to be similarly strong.

Downtown Austin Condo Transaction Report For April (And March, Sort Of)

Jude Galligan | May 9, 2011 |

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?

Downtown Austin Condo Sales Show Growth

Jude Galligan | March 7, 2011 |

Downtown Austin condo sales continue to reflect strong fundamentals as resale data from February shows increases year-to-year, and from month-to-month.

I’m continuing to tinker with some new statistics, including the effect of the average age of square footage sold. Values of downtown Austin condos tend to be highly correlated with age. This “age/area” metric is useful when comparing monthly data, and I can quickly tell if the data set is skewed towards older or new buildings. In February, the [Read more…] about Downtown Austin Condo Sales Show Growth