When Austin City Counsel approved the building of high rises in downtown Austin, the world of Austin Condo ownership suddenly became electrified. Austin has had condos and townhouses for many years, but when the high rises started going up, the whole market changed. Like giant bill boards on our downtown horizon, condos interest went main stream overnight. The high rises gave rise to a whole new generation of condo interest and advertising. Not that every buyer wanted to live downtown, or could afford to buy an expensive downtown condo, but the ever-present temptation of the high rise put condos in the line of sight for any person who spends time in downtown Austin and raised the question "Should I consider a condo?".
Of course, downtown Austin has the highest concentration of condos in the Austin area. This area is divided between UT Condos and DT condos. Just over 240 condos have sold here this year to date (YTD), weighted a little more toward the downtown area. An additional 69 condos are under contract here before the school year starts.
- Median price in DT area is around $310,000
- Approximately 1000 sf
- 137 condos SOLD YTD
- Median price in the UT area is around $180,000
- Approximately 850 sf
- 107 condos SOLD YTD
One of the next highest concentrations of condos/townhouses in the Greater Austin area is in NW Austin along the 183 corridor, up to the edge of the Lakeline Mall community, and into Cedar Park (not many condos in Cedar Park area). In this area, we have seen
- Median price is around $163,000
- Approximately 1350 sf
- 168 condos SOLD YTD
The next corridor is equally weighted, in the SW Austin area, starting south of Lake Austin, and east of I-35. This area has a number of new townhouses and condo conversions (from Apts to Condos). Due to the easy access to downtown, this is a popular area along SoCO, SoLA and beyond:
- Median price in this area is around $170,000
- Approximately 1100 sf
- 147 condos SOLD YTD
In the North Central area, just north of UT all the way up to Parmer Road, we have another concentration of condos in the Austin area. Each area, and each complex has its own features, benefits, and costs. This are looks a little like this:
- Median price is around $105,000
- Approximately 850 sf
- 120 condos SOLD YTD
West Austin, starting in the Enfield/Tarrytown area and moving toward Westlake has a surprising number of condos tucked in a fairly dense area of West downtown Austin.
- Median price is around $237,000
- Approximately 1300 sf
- 94 condos SOLD YTD
East Austin is a dynamic and changing area in Austin. A newly developing "Warehouse District" has a number of warehouse conversions. This is one of the many changing landscapes in the Greater Austin area.
- Median price is around $175,000
- Approximately 1250 sf
- 45 condos SOLD YTD
South East Austin has a few communities with condos:
- Median price is around $99,000
- Approximately 1100 sf
- 66 condos SOLD YTD
North East Austin has one of the fewest number of condos in the Austin area:
- Median price is around $142,000
- Approximately 1400 sf
- 35 condos SOLD YTD
Around Lake Travis one can find a variety of condos, and luxury condos:
- Median price is around $195,000
- Approximately 1400 sf
- 55 condos SOLD YTD
Of course, this is a very broad stroke of information about condos in the Austin area. There are many wonderful condo/townhouse communities across the greater Austin area. One to meet your needs--I am sure.
If you need a Realtor ®, I would be honored to assist you in your home purchase, search or selling your Austin area home.
Tim Thornton, Realtor ®
Top Producer 2010, 2009, 2008
Century Club member
Zip Realty, Inc.
Austin, Texas
(512) 914.4665 mobile
Century Club member
Zip Realty, Inc.
Austin, Texas
(512) 914.4665 mobile
No comments:
Post a Comment