price per square foot

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.

(Ed.:  The following was cross-posted to Downtown Austin Blog.

 Thanks to Jude Galligan for allowing me to publish this on his site.)

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.

With the help of urbanspace Realtors, we have put together a comprehensive analysis of recorded downtown Austin condo transactions in 2009.

The analysis looks at MLS data capturing 2009 condo sales in area DT during the year 2009. Like all listing data, it excludes private transactions that were not listed on the MLS.

This is a big exception considering that hundreds of units have been sold through non-mls sales.

Today, more than 200 registered bidders showed up to compete for 31 units in the much anticipated Sabine auction.

In the end, 29 of 31 units sold for an average 30.5% discount with a final price per square foot of $228.

With strong demand, the developer added four units into the auction: three just days before the sale and the fourth unit during the auction.

With one week until the Sabine auction, it is clear that many potential buyers are considering participating in the sale.

With starting bids as low as $85,000, bargain hunters will inevitably emerge looking for a great deal. The big question, however, is what is the right price for a Sabine unit.

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index for November, 2009 and, for the sixth month in a row, MLS sales volumes have increased in comparison to previous year numbers.

On a per square foot basis, year-to-date prices are down about 5% over the comparable 2008 numbers.

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index for October, 2009.

For the fourth month in a row, MLS sales were higher than the previous year's numbers. The most recent numbers suggest that the bottom of the downtown Austin condo market was likely hit this spring.

Over the last few months, sales, prices, and price-per-square-foot have all been on the rise.

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index for July, 2009 and, for the first time this year, MLS sales were higher than the previous year numbers.

Over the last 8 weeks, the downtown condo market has taken a dramatic positive turn. After 20 tough months, buyers have begun snapping up units at a surprisingly strong pace.