february sales

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.

As condos in the W Residences begin to close, the first two units have hit the MLS.

For buyers looking at the W, this is one of the first public signals of the building's market value. The units were:

23rd Floor
1,169 Square Feet
1 Bedroom / 2.5 Baths
$570,984
$488 / SF

22nd Floor
3,498 Square Feet
3 Bedroom / 3.5 Baths
$2,035.000
$582 / SF

Sales are up and average prices are up. So is the Austin market doing well? In a word no. (via Late Night Austin Real Estate Observations)

We've received the latest monthly downtown Austin condo sales report from our friends at urbanspace realtors.

Here are the results from February, 2009: