Downtown Austin condominium sales have continued their momentum. There were 94 recorded MLS sales between July and September of 2013 with an average selling price of $554,000 and $417 per square foot.
If you are thinking of selling your condominium Downtown, know that on average it takes about 5 weeks to find a buyer and prices are higher vs. last year. The highest third quarter sale was a 33rd floor residence at the W for $2.7 MM.
If you want to buy, there are choices available, but depending on price range, the selection can be limited, especially in certain buildings.
Sales prices for 2 bedroom properties averaged $630,000 in Q3 2013, although when you consider units under 2000 sq ft, the average goes down to $517,000/$386 per square foot. There are decent 2 bedroom condos and lofts as low as $400,000 Downtown if you consider a lower flow or an older building.
One bedroom sales averaged $359,000 and $407 per foot. There are buildings with prices as low as $200,000.
There are currently 27 one bedroom residences for sale, and 23 properties with 2 bedrooms in Downtown Austin.
Last week, the first new condo high rise in several years was announced for Downtown in the Seaholm development. 280 luxury high rise residences will be ready to occupy in 2015. I can get you the details.
Search Downtown Austin condos for sale and contact me if you are ready for Downtown Austin living.
Jeff Harris, Broker
Real Estate Sales and Lending
512-917-8142
NMLS#357595
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