June sales were announced today by the Austin Board of Realtors and the news is interesting: volumes were down 6% from June of 2006 while prices were up by 7%. This was the first June drop in volume in the Austin market in 5 years.What is going on? Does this mark an end to Austin’s…
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NEW: Downtown Austin Condo FAQ
AustinTowers is very excited to launch a comprehensive Downtown Austin Condo FAQ (Frequently Asked Questions) as a new permanent section of the site. The FAQ will provide a comprehensive overview of the emerging downtown Austin high-rise condo market by answering the most common questions facing condo buyers.Here are the questions that are answered in the initial version of the FAQ :…
Update: The Million Dollar Austin Housing Market
The big Austin downtown condo question remains: how big is the market for million $ condo units in downtown Austin?Some new market stats from Ki Gray of Escapeso Austin Real Estate provide some context on the high-end downtown market and it’s performance so far in 2007.Here are the number of houses that sold for $1 million…
Monarch Condos?
The Monarch — billed as the city’s first luxury rental high rise tower — is now very far along in the construction process. Developer ZOM Austin is constructing what was supposed to be a 27 story rental project on 5th just East of Lamar with 297 rental apartments and 8,500 square feet of ground floor…
How easy is it to sell a downtown condo?
The market for downtown condos is very active but quite different from the single family home market in two key facets.First, downtown condo owners who want to sell are currently competing with new units entering the market. If too many units come on at once, downward pricing pressure may ensue. That said, developers are very…