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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.

As developer prepare for a third iteration of Zilker Park Residences, the project has been withdrawn from the market.

In December, the 21c team returned to Austin to comment on the Waller Creek plan and to discuss their future intentions for their prime Waller Creek site adjoining Red River and Cesar Chavez downtown.

For those of you unfamiliar with the history, the project was originally scoped as a 44-story condo and hotel project on third and Brazos street.

In a surprise move, the developers abandoned the planned third and Brazos project in favor of a new multi-building complex to be located a few blocks East on Waller Creek.

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.

At least 18 of 23 units at the Sage Condos, a new low rise development on South Lamar near Oltorf, sold in the third major Austin condo auction of the year.

All 23 units received bids and 18 of the bids were immediately accepted by the developer.

Zilker Park Residences, the high end condo and boutique hotel project on the edge of Zilker park has released a series of renderings which illustrate the design and site plan for the project.

Last November, developers announced plans for 74 units to be developed on the eastern edge of Zilker Park on Barton Springs Road.

With units starting at $300K and topping out near $1.3 million, the 3 building project was to sit on the border of the park with direct access to the hike and bike trails.

Over the last few weeks, as listings were pulled from the MLS, it became clear that a change was in the works.

It is a fact: there has not been much investment activity in the downtown Austin condo market. Most of the buyers plan to occupy their units.

As we reported last week, this is one of the reasons why Austin is less likely to see a Miami-style bubble explosion anytime soon.

The Austonian is going to be nice.

At 56-stories, it will be the tallest building in Austin. In fact, it would be the tallest residential building in San Francisco.

It has a beautiful pool and a dog park with a special doggie toilet.