It’s well known that the value of a condo is mostly determined by the value of the building. No matter what improvements you make to your Railyard condo unit, it will sell for less on a $/SF basis than a unit in the Austonian. For this reason, we’ve crunched our full-year 2011 data to see…
Exclusive: January & February Sales Fetch Higher Prices
We’ve updated the AustinTowers | REATX Downtown Austin Condo Market Index for January and February, 2012, and our seasonally neutral 12-month tracking index set four new records. With January and February sales included, the 12-month tracking index set records for the highest $/square foot ($336), average sales price ($405,503), newest units (avg 1997) and shortest average days on market (78.8)…
Migration, Job Growth Likely to Push Real Estate Prices up
The factors that drive real estate appreciation are very well known: migration, job creation, low interest rates, and accessible credit drive price appreciation as long as supply isn’t increasing equally rapidly. Over the next two years, Austin will see very strong migration and job creation in a low-interest rate environment with only small increases in…
Starting Today: Friday & Saturday Night MetroRail Service
Starting today, MetroRail trains will run on Friday and Saturday nights, ferrying people to and from downtown on a new evening schedule that runs from 4pm to midnight every weekend.According to the article, “The city-funded service will begin March 23. But Capital Metro on its own dime will have late Friday and Saturday service for…
The Coming Transformation of South Lamar
So many areas of the City seem to be changing so fast. In addition to Seaholm, Green, and the Waller Creek area, multiple developers have proposed ambitious projects for the South Lamar corridor. South Austin development is clearly controversial, and a flood of new proposed apartments and retail will likely see considerable opposition. According to…
Hike & Bike Boardwalk Underfunded but Project will Proceed
According to the Statesman, “the boardwalk trail over and along Lady Bird Lake might cost at least $3.3 million more than estimates released for the 2010 City of Austin bond election that authorized the project. The city received eight bids for the work, all far exceeding the expected cost.” Despite the significant projected cost overrun,…