• 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 / Update: The Million Dollar Austin Housing Market
Search suggestions: condos for sale • rainey street

Update: The Million Dollar Austin Housing Market

towers staff July 18, 2007 Comment

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 or more by year and that were recorded in MLS in the Austin metropolitan area:

2004 – 152 houses
2005 – 213 houses
2006 – 341 houses
2007 – 181 houses (1st Half of 2007 Only)

The amazing thing is that the size of the market has more than doubled in just 3 years. As one of the fastest growing segments of the market, high-end inventory and demand have been rapidly expanding.

It remains to be seen how many high end condo units can be absorbed by the Austin market. In the Austonian alone, there will likely be more than 100 units priced over $1 million — that is a lot of inventory in one building. The project’s construction budget alone is greater than $1 million per unit which should provide an indication of the average unit selling price.

The good news for the high-end projects are that they are adding much needed downtown inventory in the fastest growing segment of the market. The bad news is that nobody knows how deep this market is — or how many units can reasonably be sold in any given year,

Related

Filed Under: Market Analysis

About towers staff

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

603 Davis Street #604
Austin, TX
Photo of 603  Davis Street #604, Austin, TX 78701 (MLS # 2434110)
$649,900
10
  • Lot Size
    214 sqft

  • Home Size
    1,136 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

Previous Post: « Monarch Condos?
Next Post: NEW: Downtown Austin Condo FAQ »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published.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

Primary Sidebar

  •  Schedule a showing

FEATURED Listings

603 Davis Street #604
Austin, TX
Photo of 603  Davis Street #604, Austin, TX 78701 (MLS # 2434110)
$649,900
10
  • Lot Size
    214 sqft

  • Home Size
    1,136 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

44 EAST Avenue #2310
Austin, TX
Photo of 44  EAST Avenue #2310, Austin, TX 78701 (MLS # 9418770)
$1,425,000
40
  • Lot Size

  • Home Size
    1,260 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
44 East Avenue #1607
Austin, TX
Photo of 44  East Avenue #1607, Austin, TX 78701 (MLS # 3439383)
$1,250,000
36
  • Lot Size

  • Home Size
    1,221 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
608 Brentwood Street #A
Austin, TX
Photo of 608  Brentwood Street #A, Austin, TX 78752 (MLS # 3202099)
$989,608
33
  • Lot Size
    4,356 sqft

  • Home Size
    1,959 sqft

  • Beds
    3 Beds

  • Baths
    3 Baths

501 West Avenue #2103
Austin, TX
Photo of 501  West Avenue #2103, Austin, TX 78701 (MLS # 4503529)
$2,895,000
40
  • Lot Size

  • Home Size
    2,822 sqft

  • Beds
    3 Beds

  • Baths
    4 Baths

austin condo report

Featured Buildings

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

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

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