We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for August, 2011, and once again, our seasonally neutral 12-month tracking index set a record for the highest average monthly sales. This remains good news for condo owners: liquidity is clearly increasing for inexpensive and recently constructed units. With a monthly average of 16.1 units, average monthly volumes…
Austin Rents Continue to Soar: No Relief in Sight
With strong inbound migration and a vibrant local economy, the Austin rental market continues to strengthen. With no new projects likely for the next year, downtown rents will continue to rapidly increase. According to Axiometrics, a national real estate analytics firm,”Austin ranks as the best market in Texas. The 10.1% annual effective rent growth in…
Downtown Austin Secret: Run or Bike to a Sandy Beach
If you run or bike on the downtown hike and bike trails, you’ve likely already discovered the pretty but incomplete loop that circles alongside Ladybird Lake east of I-35 to Pleasant Valley rd and the Longhorn dam. But few people know that a spectacular landscape exists just beyond the dam.Beyond the Longhorn Dam and the…
Strong July Condo Sales Drive New Full-Year Record
Despite mixed economic news dominating the headlines, the downtown Austin condo market continues to strengthen. We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for July, 2011 — a very strong month. With July’s results, our seasonally neutral 12-month tracking index set a record for the highest average monthly sales and the shortest average days on market….
Congress Avenue Marriott Marquis to Open in 2015
According to the Austin Business Journal, the controversial 1,000+ room Congress Avenue Marriott on the former site of Las Manitas will open in 2015 as scheduled. The hotel will carry the “Marriott Marquis” brand.According to the Austin Business Journal, “The Austin Marriott Marquis, which will be owned and operated by White Lodging Services Corp., is…
Monarch Apartments Sold
The Monarch apartment complex on fifth street was sold to Windsor Communities this week for a price rumored to be just over $100 million. The Monarch has an amazingly complex history for such young building. It was a rental building and then a condo project and then a rental building again. When it first hit…