Tag Archives: Austin Downtown condos

Downtown Austin Condo Data

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Austin Downtown Districts

What’s moving Downtown and how are other hot condo areas doing?  I have selected specific condominiums and popular areas in Central Austin to offer some data points. Downtown Austin and the surrounding areas offer great varieties in unit sizes, amentities and styles. There are low rises and hi-rise living options in a variety of price points. The large variety of  locations, styles and price points offer truely something for everyone.

The data below is specific to condominium homes.  

If there is an area you want me to spotlight -please let me know.

Central Austin Condo Market Data

All Downtown Condos
Number of Active Houses on the Market:         81
Average Days on Market:                              109
Median List Price:                                 $ 399,900

Spring Condominiums (Downtown)
Number of Active Houses on the Market:         10
Average Days on Market:                                 85
Median List Price:                                 $ 408,500

360 Condominiums (Downtown)
Number of Active Houses on the Market:            6
Average Days on Market:                                  51
Median List Price:                                 $ 387,000

W Residences (Downtown)
Number of Active Houses on the Market:             9
Average Days on Market:                                138
Median List Price:                              $ 1,149,000

Milago Condomniums (Downtown)
Number of Active Houses on the Market:             5
Average Days on Market:                                   85
Median List Price:                                  $ 339,000

All Condos in zip code 78704
(South of Downtown: SoCo / Zilker area)
Number of Active Houses on the Market:            65
Average Days on Market:                                    96
Median List Price:                                   $ 250,000

All University of Texas Condos
Number of Active Houses on the Market:            44
Average Days on Market:                                  143
Median List Price:                                    $ 208,750

All condos in zip code 78703
(West of Downtown: Tarrytown area)
Number of Active Houses on the Market:             45
Average Days on Market:                                   102
Median List Price:                                     $ 370,000

Downtown Condo Market

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Some are old, some are bold, others are modest and brand new – there is an Austin downtown condo available to suit everyone looking to live an urban greener lifestyle.  Let’s take a peak at the inventory and how well it’s doing…..

Downtown Condos by the Numbers

Based on current 90 day data, there have been 171 condominiums that are available for actively available for purchase, have an accepted offer and are pending, or have closed in downtown, Austin. 

Downtown Condominium Inventory breakdown:

  •          107 units are Active
  •            34 units are Pending
  •            30 units have Sold

    • The median time on the market for a downtown Austin condo is 94 days.

    Downtown Condos by Price and Size

    Active units currently range in price from $109,900 to just over $5 million.  The median list price is currently $325,000.  Downtown condominiums currently available for purchase range in size from 494 square feet (per tax record) to 7,113(per agent).  The median size of a unit available for purchase is currently 1,219 square feet with 2 bedrooms and 2 baths. 

    Just as there are many factors that make up the market price of a house, there are many things that factor into the price of a condo.  Building amenities, floor height, views, and interior finishes all factor into the price of a condo.  You have heard the saying in real estate “location, location, location”, and condominiums are no different.  The locations of the buildings within downtown, and the location of the unit within the building, are also factors that will ultimately affect the list price.

    Remember:  Buyers are not just purchasing a unit in a hi-rise, they are buying convenience.  Is Near Town Lake? the Warehouse District? the office?  Convenience is defined by the Buyer.

    Austin Market Spotlights

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    I have selected some random subdivisions, zip codes in Austin and cities surrounding it, to provide some current real estate market data.  If there is an area or neighborhood you would like spotlighted -please let me know.

    Overall, the Austin market is strong.  Areas averaging 3 months or less are considered to be seller’s markets.  Four to six months are considered neutral markets.  Six months or more time on the market is considered to be buyer’s markets.  The exceptions to this are:   luxury properties over $800,000, because there are less buyers and new construction where the projects are actively marketed before or during building.

    Austin Condominiums

    78704 Condos

    Number of Active Condos on the Market:  113

    Average Days on Market:  138

    (new construction projects make the average days high)

    Median Home Price:  $ 275,000

    Downtown Condos

    Number of Active Condos on the Market:  151

    Average Days on Market:  127

    Median Home Price:  $ 349,500

    Austin Single Family Homes

    Circle C Ranch

    Number of Active Homes on the Market:  33

    Average Days on Market:  67

    Median Home Price:  $ 314,900

    Travis Heights

    Number of Active Homes on the Market:  15

    Average Days on Market:  115

    Median Home Price:   $ 499,000

    City of West Lake Hills

    Number of Active Houses on the Market:  29

    Average Days on Market:  136

    Median Home Price:    $1,220,000

    Shady Hollow

    Number of Active Houses on the Market:  26

    Average Days on Market:  108

    Median Home Price:    $284,450

    Cat Mountain

    Number of Active Houses on the Market:  21

    Average Days on Market:  134

    Median Home Price:    $520,000

    Barton Creek West

    Number of Active Houses on the Market:  8

    Average Days on Market:  58

    Median Home Price:    $562,363

    Showing property with a Dash of History, for Good Measure

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    For starters, I would just like to thank you for referring me to your friends, family and co-workers. My business is based on you, and I am very blessed to have your continued support.

     Last week, I was in Round Rock and then, moved on to Downtown, Austin to view some condominiums.  If you haven’t been to the historical district of Round Rock, it is quite charming. Downtown, I went to the Brown Building and the Nokonah.  Located on W 9th Street, the Nokonah is in the heart of Duncan Park and within walking distance to Whole Foods, restaurants and shops.  

    Built in 1940, the Brown Building, on Colorado Street holds a historical designation, which gives owners an additional tax exemption.  The building was originally utilized as office space, some of which was occupied  by politicians,  including former President Lyndon B. Johnson. In 1998, The Brown Building was converted to loft style condominiums.  The Brown Bar and Gumbos restaurant are on the first floor, for your dining pleasure. Here’s a peak

    Reminder:   we must be under contract by April 30th in order to qualify for the tax credit.

    I support local Austin; after all I think it’s only neighborly.

    Contact me for real estate needs by:

    Phone:  201-286-2504

    Email:  doreen@supportlocalaustin.com

    About Condominium Regimes

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    Austin, TX…The MLS has changed the way it labels single detached homes that are in some sort of condominium regime. The new ownership type includes the word ‘common’ or ‘fee-simple’ after the word ‘house’. These ‘houses’ were once labeled ‘Condo Detached’.

    Common is defined as condos or houses where ownership of some or all of the land is shared between the owners.

    Fee Simple is defined as properties that the land is owned individually such as a single family house, or townhomes on separate lots, or 1/2 duplexes where the land has been sub-divided.

    Again, because these ‘condos’ are now labeled ‘houses’, you may see some come up in your house search, and will typically mean that they have some sort of common area.

    I support local Austin; after all I think it’s only neighborly.

    Property Tour and Downtown projects

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    There’s nothing like cramming into an elevator or taking flights of stairs or walking around on cement that has been baking for hours with 90 other agents.

    I went to get an update on the W, The Austonian and the Four Seasons, as well as taking a peak at some units that are somewhat cumbersome to see without a tour.  

    The Four Seasons Residences are 50% pre-sold, in fact buyers now have the opportunity to pick finishes, so if you know anyone who is interested, let me know.  The units are priced between $450k and $3.5 million.  The HOA is .62 cents a sq foot, which includes a staff dedicated to the residents. That means room service, or having Fluffy walked for you at 2am – is only a phone call away.

    I support local Austin; after all I think it’s only neighborly. Need a house?