Over the last 30 months, 344 downtown Austin condos sales have been recorded on the MLS. Of these sales, an amazing 52 have been in the Milago — more sales than any other downtown Austin condo project (360 is #2). Of course, MLS statistics exclude sales that aren’t listed on MLS — including almost all sales by the developer. As a result, the MLS statistics provide a clear picture of resale units but not initial sales.
When looking at resale volumes and quantities, the 52 Milago sales provide an interesting picture of the downtown Austin condo market over the 30 months. During this period, Milago sales volumes have decelerated from 2.1 sales per month to 1.9 sales per month and prices have dropped from $322 / SF to $266 / SF. The price drop occurred almost entirely in 2009. Fortunately for owners, prices have been relatively stable going into 2010.
Milago Sales Analysis: Sales Velocity
| Year |
# Sold |
Units / Month |
Avg SF |
|
2008 |
25 |
2.1 |
1041 |
Read the full analysis here:
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