We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for October, 2010. For the second month in a row, sales volumes fell far below the year ago level. With the sale of two high value units, however, average sales price spiked 28% to $571K. Month Sales Avg. Price $/SF Avg SF Avg Year % Ask ADOM Oct-09…
Hello W Austin!
Tomorrow morning, the W Austin hotel will finally open. The 251 room hotel and many of its key amenities will come to life tomorrow at 11:30AM with the rest of the project to be completed over the next few months. The hotel will open with a limited number of guests with public bookings beginning on…
Convention Hotel Math
Conventions are great for downtown Austin. They bring in people that fill local downtown restaurants, bars, and stores and they help local businesses thrive. They help keep downtown well-populated and busy, they create tons of downtown jobs, and their tax dollars help fund downtown improvements. With just a few thousand people currently living downtown, it’s…
City of Austin: Dowtown Vacation Rental Investigation Under Way
The vacation rental industry is growing rapidly. Increasingly, downtown Austin condo owners are listing their units on services such as Homeaway as opposed to offering units in the traditional long-term rental market. With rates of $1,000 – $2,000 per week, a few vacation renters can make a condo owner happy. But with short-term rentals come…
The Next Wave of Rainey Street Development
The neighborhoods with the most character are often historic and central. For this reason, it was probably inevitable that the Historic Rainey Street neighborhood in the heart of downtown would become a very cool district of restaurant and bars. First came Lustre Pearl and Clive. Then, the G’ Raj Mahal Cafe. Now, three more houses…
BartonPlace: 57% Sold
We received an update from the head of sales at BartonPlace. According to the team, the 270 unit 6-story project is now 57% sold. This leaves 116 units left to sell. A couple of readers noticed that a small number of BartonPlace leases were hitting the MLS and asked whether these were being offered by…