An article in yesterday’s New York Times analyzed downtown Austin as a second home location. The enthusiastic article shed light on an important trend in the downtown market: the popularity of downtown condos with out-of-town buyers looking for a weekend getaway. We have heard first-hand from many developers that affluent Houston and Dallas residents, especially this with children attending UT, have been active buyers in the downtown Austin condo market. The New York Times also indicated that buyers are increasingly able to negotiate with developers and condo owners for price reductions and free upgrades. In . . .
