According to ZIllow , Total home values in the United States fell $489 billion in the first 11 months of 2009. A large drop, to be sure, but it marks a significant improvement from 2008, when homes lost a total of $3.6 trillion in values. In addition, about one-third of the markets we covered (48 of…
21c Austin: New Renderings Magically Appear
This week, it has been reported that the developers of 21c are coming back to Austin to provide an update on the status of the project. Apparently, the plans are now complete and they are ready to proceed with a third version of the project on a large site located at the intersection of Red…
Milago: Detailed Comparable Sales Analysis
Over the last 22 months, AustinTowers has been closely tracking the downtown Austin condo market. During this period, Milago has sold more units on the resale market than any other project . The 46 Milago transactions over the last 21 months provide an interesting microcosm of the downtown Austin market. The numbers clearly show the…
Austin: 3rd Best City for Development
From my perspective, it is always great for Austin to be included in a top five list that includes San Francisco, New York, Boston, and Washington DC. This week the Urban Land Institute , a 2,000 member not-for-profit real estate and developer network, released its list of the 5 cities for development in 2010. In order, the Institute’s…
October Surprise: Austin Home Sales Surge
We reported 9 days ago that downtown Austin condo sales were up 44% year-over-year while prices were down 3%. This was good news but not necessarily indicative of the broader Austin market. Today, newly released MLS numbers show that central Texas existing home sales soared 38% in October with 1,823 houses selling compared with 1,322 a…
Houston Condo Market Problems
The #1 thing going for the downtown Austin Condo market is downtown Austin. In downtown Houston, where they also have a brand new crop of high rise condos, very few people want to live downtown. In the other neighborhoods where towers have popped up, picky residents can live nearby in larger, less expensive housing. Here…