• 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 / News / Wow! Strong April & May MLS Condo Sales & Price Appreciation
Search suggestions: condos for sale • rainey street

Wow! Strong April & May MLS Condo Sales & Price Appreciation

towers staff June 12, 2011 Comment

We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for April and May, 2011and the results are very, very good. With 42 MLS sales during the two month period (and as many as 40 non-MLS sales in May alone), our twelve month tracking index showed it’s highest average sales price ever: $368,929. The new record was the result of both price appreciation and a shift in mix to higher-priced units.

In April, 18 units sold for an average price of $387,508 — a 29% increase in sales, 32% increase in average price, a 4% increase in $/SF and a 23% decrease in average days on market. While May sales volumes were level with last year, sales prices increases by 35%, $/SF by 15%, and average days on market dropped by 49% to 60-days. Overall, the units sold this year were newer, bigger, and more expensive than the units transacting a year ago.

April 2011 Condo Sales

Month
Sales
Avg. Price
$/SF
Avg SF
Avg Year
% Ask
ADOM
Apr-10

14

$294,263

$273
1,061
1985
96%
128

Apr-11

18

$387,508

$284
1,302
1989
96%
98

Change

29%

32%

4%
23%
4.00
0%
-23%

May 2011 Condo Sales

Month

Sales
Avg. Price
$/SF
Avg SF
Avg Year
% Ask
ADOM
May-10

24

$258,967

$285
934
1976
96%
118

May-11

24

$349,329

$327
1,041
2000
97%
60

Change

0%

35%

15%
11%
24.00
1%
-49%

During the two month period, sales prices ranged from $100K to $1.2M. 7 units sold for less than $200K, 31 sold for $200K – $500K, 2 from $500K to $1M, and 2 units for more than $1M. The two units that sold for more than $1M were both in the Nokonah. It is interesting to note that more than 90% of sales were for less than $500K and that the big dollar transactions are almost all happening off the MLS in new projects like the Austonian, W, and Four Seasons.

The most units sold were in 360 — the largest downtown Austin condo project and one of the most desirable — with 12 units selling for an average of $392 / square foot. After 360, five buildings each saw 3 sales during the two month period: Sabine, Nokonah, Greenwood, 904 West Ave, and Milago.

As usual, private sales — which are not reflected in the MLS data — continued to close at Spring, Four Seasons, the W, and the Austonian. April and May are the beginning of the peak selling months and, so far, the trend looks good. Year-to-date, sales are up to 75 units over 71 last year thanks to a strong April.

See the full index here.

Tweet

Related

Filed Under: News

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: « DAB Reporting 40 New Building Closings in May
Next Post: Downtown “Startup District” Proposed »

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