• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TOWERS

Austin city life since 2007.

  • News
    • Condo Projects
    • Neighborhoods
  • Listings
    • Austin Condo Guide
  • Newsletter
Search
You are here: Home / News / Exclusive: June Condo Sales Set New Record
Search suggestions: condos for sale • rainey street

Exclusive: June Condo Sales Set New Record

towers staff July 15, 2011 Comment

We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for June, 2011. While prices remained flat during the month of June, an amazing 29 downtown Austin Condo sales crossed the MLS. This is a new one month record for our market index. The June results are very interesting, they show renewed market strength at the low end of the market but include almost no units from the projects completed during the last year.

Month
Sales
Avg. Price
$/SF
Avg SF
Avg Year
% Ask
ADOM
Jun-10

18

$387,241

$324
1,160
1999
95%
100

Jun-11

29

$319,051

$324
984
2000
97%
55

Change

61%

-18%

0%
-15%
1.00
2%
-45%

When compared with last year, volumes were higher, units were smaller, and average days on market was significantly shorter. With 29 sales during the month, volumes were up 61% over the prior year period. While prices were down 18%, the price drop is entirely the result of mix and not an absolute price decline resulting from buyers selecting smaller, less expensive units. Price per square foot remained constant year-over-year at $324.

Our 12-month rolling sales index also showed new records. The rolling index looks at 12-months of sales to adjust for seasonality. With June sales factored in, the index set a record for average monthly sales (more sales), age of units (newer units), % ask (higher), and average days on market (lower). Together, these records show that the Austin condo market is gaining strength on the low end. On the high end, most of the sales remain private off-mls transactions through the W, Austonian, and Four Seasons. As a result, it is hard to know if those sales are gaining momentum.

June sales were led by 360 with 7 sales, Milago with 5 sales, the Shore, Railyard, and 555 each had 3 sales during the month. In addition, one 840 square foot unit was sold in the W for $642 / square foot. Interestingly enough, the median price during the month was $342K. On the high end, 3 units sold for more than $500K but none for more than $1 million. On the low end, 5 units were sold for less than $200K with the least expensive unit selling for just $139,000.

See the full index here.

Tweet

Related

Filed Under: News

About towers staff

Real estate, architecture, and city planning. Email: austin@towers.net

109 E 10th Street
Austin, TX
Photo of 109 E 10th Street, Austin, TX 78701 (MLS # 6369878)
$3,200,000
24
  • Lot Size
    2,614 sqft

  • Home Size
    4,916 sqft

  • Beds
    7 Beds

  • Baths
    4 Baths

Previous Post: « Forbes Names Austin #1 Boom Town for the Next 10 years
Next Post: The Downtown Parking Controversy Continues »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  •  Schedule a showing

Featured Buildings

  • 360 Condos
  • The Independent
  • 70 Rainey
  • Milago Condos
  • Seaholm Condos
  • The Shore
  • W Hotel & Residences

FEATURED Listings

54 Rainey Street #1118
Austin, TX
Photo of 54  Rainey Street #1118, Austin, TX 78701 (MLS # 2023262)
$995,000
37
  • Lot Size
    436 sqft

  • Home Size
    1,956 sqft

  • Beds
    2 Beds

  • Baths
    3 Baths

We're sorry, but we couldn't find MLS # 4018098 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

800 W 5th Street #808
Austin, TX
Photo of 800 W 5th Street #808, Austin, TX 78701 (MLS # 4895650)
$1,699,900
40
  • Lot Size
    436 sqft

  • Home Size
    2,422 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
109 E 10th Street
Austin, TX
Photo of 109 E 10th Street, Austin, TX 78701 (MLS # 6369878)
$3,200,000
24
  • Lot Size
    2,614 sqft

  • Home Size
    4,916 sqft

  • Beds
    7 Beds

  • Baths
    4 Baths

Footer

LEGAL NOTICE

TREC Information About Brokerage Services (pdf)

Texas Real Estate Commission Consumer Protection Notice


TOWERS realty

Browse Condo Listings

Agents

Downtown Buildings

Luxury Towers

  • Four Seasons Residences
  • W Hotel & Residences
  • The Austonian
  • 5 Fifty Five at Hilton

Most Popular

  • The Shore
  • 360 Condos
  • Seaholm Condos
  • Spring Condos
  • Milago Condos

New Construction

  • The Independent
  • 70 Rainey
  • Austin Proper
  • Fifth & West

Loft Style

  • Austin City Lofts
  • Brazos Place
  • The Sabine
  • Plaza Lofts
  • Avenue Lofts
  • Brazos Lofts
  • Brown Building

Resources

  • Austin Condo Guide
  • Condos For Sale
  • Condo Buyer FAQ
  • Property Search

Featured

Archives

Austin city life since 2007 · Newsletter · About · Contact Us · DMCA · Privacy Policy · SLAPP · Copyright © 2007-2021 TOWERS.net · All Rights Reserved