After seven years of proposed projects, the developer behind the Four Seasons Residences claims that the project will break ground this year. Apparently, the developer is self-financing the $100 million project — eliminating the pre-sales hurdles which stall many projects before construction.
75% of 360 Units Sold in 3-Weeks
An incredible 75% of the 430 units in Novare Groups’ 44-story 360 project are now under contract after just 3 weeks on the market. The units, which are mostly priced between $190K and $550K, rank among the most affordable units in the current downtown condo boom. This demonstrates, once again, that there is tremendous pent-up demand for…
Why it is Hard to Track Downtown Condo Sales
One problem with analyzing the downtown austin condo market is the lack of good sales data on many of the projects currently on the market. When realtors sell traditional single family homes or resell condo units, they are listed on MLS and the actual sales price is recorded in MLS and available to any participating…
Austin Luxury Market
The market for high-end homes has been one of the fastest growing segements in the Austin market. According Sam Chapman , “there are [currently] over 400 homes priced for over one million dollars on the market in the Austin area. The average price of these Austin luxury homes is $1.8 million and the average size is over…
The Condo Conversion Wave
The Statesman reported today on three condo conversion projects currently under way in downtown Austin. All three projects will transform commercial space into new condos. As thousands of residential units are being built in Austin for new residents who want to live and work in downtown. Compared to the boom in condo development, there is…
Nokonah Pricing Analysis: Part I
The Nokonah, A luxury high-rise project completed in 2002, was one of the first successful projects that helped to ignite the current condo boom in downtown Austin. The 11-story project is located at 9th and Lamar just north of Whole Foods and on the western border of downtown. When the Nokonah was built, the real…