We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for January and February, 2010. With the new results loaded, we are pleased to announce that year-over-year sales volumes have increased for the eighth month in a row. That, however, is where the good news ends. Month Sales Avg. Price $/SF Avg SF Avg Year % Ask ADOM…
News
Austin real estate news combined with editorial and opinion.
Top Art Galleries: New York, San Francisco, 360 Tower
This week, Details magazine published its list of the ten coolest art galleries in America. As would be expected, the list was dominated by galleries in New York (4) and California (3). Less expected was the inclusion of Austin’s own Lora Reynolds Gallery which is located in the base of the 360 tower. The remaining two galleries were located in…
Forbes: Austin Economy Good
According to Forbes.com, the Austin-Round Rock area tied for first on a list of large metropolitan areas where the recession is easing. The report listed Austin and Washington D.C. as the two top cities in terms of economic recovery. The report considered a number of factors including local economic output, job growth and real estate…
Another Downtown Building Boom?
There should be no doubt: It’s a tough time to be a downtown condo developer in Austin, Texas. While building costs have slipped from their peak, demand is soft and it remains a buyer’s market. For high-end projects in particular, supply remains plentiful and competition among sellers is fierce. Yet, developers are once again thinking…
Sabine Auction Results!
Today, more than 200 registered bidders showed up to compete for 31 units in the much anticipated Sabine auction. In the end, 29 of 31 units sold for an average 30.5% discount with a final price per square foot of $228. With strong demand, the developer added four units into the auction: three just days before…
Sabine Auction Pricing Analysis: Looking at MLS Sales
With one week until the Sabine auction , it is clear that many potential buyers are considering participating in the sale. With starting bids as low as $85,000, bargain hunters will inevitably emerge looking for a great deal. The big question, however, is what is the right price for a Sabine unit. For a few reasons, valuation…