condo market

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index for August, 2011, and once again, our seasonally neutral 12-month tracking index set a record for the highest average monthly sales.

This remains good news for condo owners: liquidity is clearly increasing for inexpensive and recently constructed units.

With a monthly average of 16.1 units, average monthly volumes have doubled from the same period two years ago.

...As you can see with this month's report, we're improving our monthly market updates to she com parables from the previous four years.

While downtown sales continue to gain strength, there are many people who would like to buy but who are renting instead.

With record low interest rates and downtown bargains still to be found, it is surprising that more buyers aren't jumping into the market.

... While the financing market isn't as easy as it used to be, it's much better than it was a year ago. ...Kevin is a long-time downtown resident and an expert on the downtown Austin condo market.

Despite mixed economic news dominating the headlines, the downtown Austin condo market continues to strengthen.

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index for July, 2011 -- a very strong month.

With July's results, our seasonally neutral 12-month tracking index set a record for the highest average monthly sales and the shortest average days on market.

This is good news for condo owners: liquidity is clearly increasing for inexpensive and recently constructed units.

"When Austin City Counsel approved the building of high rises in downtown Austin, the world of Austin Condo ownership suddenly...

(via Austin Real Estate Secrets)

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index for June, 2011. While prices remained flat during the month of June, an amazing 29 downtown Austin Condo sales crossed the MLS.

... The June results are very interesting, they show renewed market strength at the low end of the market but include almost no units from the projects completed during the last year.

...When compared with last year, volumes were higher, units were smaller, and average days on market was significantly shorter.

With 29 sales during the month, volumes were up 61% over the prior year period.

After a super strong February, downtown Austin condo sales fell 28% in March from the prior year period. Last month, we asked whether strong February sales was a trend or an anomaly.

With the data in, it seems that the market has not strengthened from last year. For the first quarter, 33 units were sold -- one more than during the same period in 2010.

There is lots of evidence that the Austin real estate market is set to improve: inbound migration rates are extraordinarily high.

Job growth is back. Inventory is declining. Rental rates are soaring. Despite all of these signs, the MLS statistics show a very slow start to the year.

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index for October, 2010.

For the second month in a row, sales volumes fell far below the year ago level. With the sale of two high value units, however, average sales price spiked 28% to $571K.

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index for August and September, 2010.

After 14 months of year-over-year sales gains, sales volumes in September dropped to below their year ago level.

Over the last 30 months, 344 downtown Austin condos sales have been recorded on the MLS. Of these sales, an amazing 52 have been in the Milago -- more sales than any other downtown Austin condo project (360 is #2).

Of course, MLS statistics exclude sales that aren't listed on MLS -- including almost all sales by the developer.

As a result, the MLS statistics provide a clear picture of resale units but not initial sales.