We’ve just received last years downtown Austin condo sales data and are excited to be able to provide a quick preview of the aggregated full year data. Over the next few weeks, we’ll crunch the numbers and provide deeper analysis including condo sales and values by building for the major downtown Austin projects.
In 2010, MLS condo sales grew by an amazing 50% over 2009 results. With 168 transactions plus a significant number of non-MLS sales at the Austonian, Four Seasons, Spring, and BartonPlace, 2010 was a strong rebound year.
| Month |
Sales |
Avg. Price |
$/SF |
Avg SF |
Avg Year |
% Ask |
ADOM |
|
2009 |
112 |
$330,344 |
$296 |
1,106 |
1990 |
94% |
88 |
|
2010 |
168 |
$343,983 |
$294 |
1,142 |
1992 |
95% |
99 |
|
Change |
50% |
4% |
-1% |
3% |
1.4 |
2% |
13% |
While sales volumes increased, pricing remained essentially unchanged at $294 per square foot – a 1% decline from $296 / sq foot in 2009. Because the average unit size increased by 3% to 1,142, average sales price increased 4% from $330K to $344K.
In addition, % of ask increased slightly to 95% while average days on market slid from 88 to 99 days.
All in all — it was a good year. Over the next few weeks we’ll look more closely at November and December results while providing deeper analysis of the full year trends.
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