• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TOWERS

Austin city life since 2007.

  • News
    • Condo Projects
    • Neighborhoods
  • Listings
    • Austin Condo Guide
  • Newsletter
Search
You are here: Home / Market Analysis / The NEW Austin Luxury Condo Market
Search suggestions: condos for sale • rainey street

The NEW Austin Luxury Condo Market

towers staff July 1, 2007 Comment

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. With a bunch of high-end developments in the works including the Austonian and the new Four Seasons Residences, we should find out soon whether a real market exists for hundreds of units priced over $500K, and dozens priced over $1M as these projects come to fruition. As none of these projects have broken ground, it’s hard to know where they really stand.

When the 21c project was announced, some interesting speculation on the Austin luxury market made it into the news coverage. Here is an excerpt from the Statesman:

Some observers question whether downtown might end up with a glut of high-end condos, as has happened in some other major cities. But Poe and some local real estate developers and consultants insist demand remains strong locally as baby boomers, young professionals, empty-nesters and others seek an urban lifestyle.”I think your market is pretty deep,” Poe said. He noted that developers would have three years to sell units before the building opens, adding that selling 65 units a year is “not an unreasonable goal.”Charles Heimsath, president of an Austin-based real estate consulting firm that advised developers on the project, said strong pre-sales and reservations at both the Austonian and the Four Seasons suggest a solid demand.

The information from Charles Heimsath, an independent consultant, is very encouraging if true. It makes sense that the 21c developers did their research before deciding to proceed. We’ll keep our eyes open to see if we can uncover any additional information on the state of presales at the current set of high end projects.

Related

Filed Under: Market Analysis

About towers staff

Real estate, architecture, and city planning. Email: austin@towers.net

48 SE East Avenue #2508
Austin, TX
Photo of 48 SE East Avenue #2508, Austin, TX 78701 (MLS # 8722079)
$865,000
33
  • Lot Size
    66 sqft

  • Home Size
    803 sqft

  • Beds
    1 Bed

  • Baths
    1 Bath

View Virtual Tour
Previous Post: « Spring Breaks Ground
Next Post: 360 Sales Update »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  •  Schedule a showing

Featured Buildings

  • 360 Condos
  • Austin City Lofts
  • The Independent
  • The Shore Condos
  • 70 Rainey

FEATURED Listings

5924 S Congress Avenue #12
Austin, TX
Photo of 5924 S Congress Avenue #12, Austin, TX 78745 (MLS # 8592590)
$599,000
37
  • Lot Size

  • Home Size
    1,608 sqft

  • Beds
    3 Beds

  • Baths
    4 Baths

View Virtual Tour
70 Rainey Street #1408
Austin, TX
Photo of 70  Rainey Street #1408, Austin, TX 78701 (MLS # 2400059)
$1,995,000
39
  • Lot Size

  • Home Size
    1,434 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
360 Nueces Street #1216
Austin, TX
Photo of 360  Nueces Street #1216, Austin, TX 78701 (MLS # 6124051)
$875,000
36
  • Lot Size
    131 sqft

  • Home Size
    1,117 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
1700 Ullrich Avenue
Austin, TX
Photo of 1700  Ullrich Avenue, Austin, TX 78756 (MLS # 6581028)
$695,170
27
  • Lot Size
    6,709 sqft

  • Home Size
    1,066 sqft

  • Beds
    3 Beds

  • Baths
    2 Baths

3205 Holton Street
Austin, TX
Photo of 3205  Holton Street, Austin, TX 78702 (MLS # 2917084)
$1,850,000
34
  • Lot Size
    7,062 sqft

  • Home Size
    2,571 sqft

  • Beds
    4 Beds

  • Baths
    4 Baths

48 East Avenue #1608
Austin, TX
Photo of 48  East Avenue #1608, Austin, TX 78701 (MLS # 9928914)
$825,000
10
  • Lot Size
    17,904 sqft

  • Home Size
    803 sqft

  • Beds
    1 Bed

  • Baths
    1 Bath

austin condo report

Footer

LEGAL NOTICE

TREC Information About Brokerage Services (pdf)

Texas Real Estate Commission Consumer Protection Notice


TOWERS realty

Austin Condos For Sale

Agents

Downtown Buildings

Luxury Towers

  • Four Seasons Residences
  • W Hotel & Residences
  • The Austonian
  • 5 Fifty Five at Hilton

Most Popular

  • The Shore
  • 360 Condos
  • Seaholm Condos
  • Spring Condos
  • Milago Condos

New Construction

  • The Independent
  • 70 Rainey
  • Austin Proper
  • Fifth & West

Loft Style

  • Austin City Lofts
  • Brazos Place
  • The Sabine
  • Plaza Lofts
  • Avenue Lofts
  • Brazos Lofts
  • Brown Building

Resources

  • Austin Condo Guide
  • Condos For Sale
  • Condo Buyer FAQ
  • Property Search

Featured

Archives

Austin city life since 2007 · Newsletter · About · Contact Us · DMCA · Privacy Policy · SLAPP · Copyright © 2007-2022 TOWERS.net · All Rights Reserved