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…
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…
New York Times Article: Protecting the Hill Country
The New York Times published an interesting analysis of the development pressures on the hill country surrounding Austin. The hill country is one of Austin’s greatest assets and has historically been protected from development by the difficulty of providing a reliable water supply across the rural region. Recently, however, new water infrastructure has changed the…
360 Sales Update
According to a source who recently visited the 360 sales center, the 44-story 430 unit is selling well and should sell out soon — many months ahead of its scheduled completion date. With 430 units, 360 is the largest of the current crop of developments, so a sell out would be a strong sign for the market….
The NEW Austin Luxury Condo Market
When 21c Musuem & Condos , the latest downtown luxury condo project, was announced on June 11, many interesting questions were once again raised about the downtown luxury condo market. While the market remains strong for units priced below $400K — such as many of those in 360 and Milago — the market for high end units is not yet proven….