[Personal update why we’ve not published data for a while. A couple of months ago, I began work on obtaining sales data from the newly constructed buildings. Not a quick and easy task. However, after several conversations and a leap of faith by everyone involved in assembling the data (thanks!), we’ve got some REALLY interesting data to share. –Jude]
Back in 2010, when downtown Austin’s luxury condos started closing, the actual sales prices were closely guarded (not entered into the MLS). I’ve been publishing monthly sales of Downtown Austin condos for years, and began tracking sales of new construction condos by laboriously tracking new deed records. That data was [at least] an accurate count of how many new constructions units had closed, and what floor plans were selling best. That was real data my clients could rely upon, but actual closing prices were simply not available.
As a result, I have only been able to consistently highlight resale pricing. With all of my talk about the average sale price for downtown is solidly planted at $300 per foot, I would always qualify it as incomplete without closing price data for new condos.
My goal has always been to combine the resale numbers and the new construction numbers into a single statistic. The closely guarded luxury condo sales data has kept me from doing that.