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 |
| Jan-09 |
4 |
$358,225 |
$321 |
1,129 |
1996 |
93% |
85 |
|
Jan-10 |
6 |
$274,547 |
$291 |
953 |
2005 |
96% |
127 |
|
Change |
50% |
-23% |
-9% |
-16% |
9.00 |
3% |
49% |
| Month |
Sales |
Avg. Price |
$/SF |
Avg SF |
Avg Year |
% Ask |
ADOM |
| Feb-09 |
6 |
$400,833 |
$322 |
1,258 |
1998 |
90% |
116 |
|
Feb-10 |
8 |
$291,938 |
$292 |
1,002 |
1979 |
94% |
50 |
|
Change |
33% |
-27% |
-10% |
-20% |
-19.00 |
5% |
-57% |
During January and February, 14 downtown Austin condo units were transacted on the MLS: 4 more than during the same period in 2009 with the gain spread across both of the months. While volumes are up, prices are headed downward as buyers gravitate towards smaller, older, and cheaper units than they did in the past.
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