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Thanks,

Jude Galligan, Broker
Realtor® CNE®

512-226-3414 || jude@downtownaustinblog.org
RE/MAX Downtown Austin
603 Davis St, Suite 102, Austin, Texas 78701

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Downtown Living Tour

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Tour downtown Austin’s condo and apartment buildings this Sunday with the Downtown Austin Neighborhood Association, as part of their annual Downtown Living Tour (aka “DLT).

Jamie Lagarde, President of DANA, shares with us, “the purpose of the event is for people to get an overview of what it means to live, work and play in  downtown Austin.”  He continues, “People drive by downtown, and see a lot of things have changed, or they come down for dinner but they don’t really get a feel for what it means to live, and experience downtown on a daily basis.”

Buildings on the tour include: W Hotel Residences, 5 Fifty Five, 904 West, Austin City Lofts, Brazos Lofts, Gables Park Plaza, Brown Building, Brazos Place, 360 Condos, Red River Flats, Gables West Avenue, Spring Condos.

Click here to reserve your ticket.  Tickets are $15 ($25 day of).


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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Downtown Austin Open Houses

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downtown Austin open house listings for Sunday, October 3rd.
(Got the wrong week? Click here)

1. 603 Davis St, The Shore Condos #1603, 2bd/3ba $650,000 1-3pm [Urbanspace]
2. 603 Davis St, The Shore Condos #911, 2bd/2ba $399,900 1-3pm [Urbanspace]
3. 904 West Ave, 904 West condos #211, 1bd/1ba $193,300 1-3pm [Urbanspace]

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.

-Jude

Downtown Austin Open Houses

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downtown Austin open house listings for Sunday, September 26th.
(Got the wrong week? Click here)

Sunday

1. 603 Davis St, The Shore Condos #1603, 2bd/3ba $650,000 1-3pm [Urbanspace]
2. 1704 West Ave, West Ave Condos #102, 2bd/3ba $345,000 2-4pm [Diane Dopson Properties]
3. 360 Nueces St, 360 Condos #3409, 2bd/2ba $549,000 12-4pm [Zee Realty]
4. 603 Davis St, The Shore Condos #911, 2bd/2ba $399,900 1-3pm [Urbanspace]
5. 360 Nueces St, 360 Condos #2711, 1bd/1ba $569,700 12-4pm [Zee Realty]
6. 360 Nueces St, 360 Condos #3901, 2bd/2ba $368,000 12-4pm [Zee 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 August.

-Jude