Some are old, some are bold, others are modest and brand new – there is an Austin downtown condo available to suit everyone looking to live an urban greener lifestyle. Let’s take a peak at the inventory and how well it’s doing…..
Downtown Condos by the Numbers
Based on current 90 day data, there have been 171 condominiums that are available for actively available for purchase, have an accepted offer and are pending, or have closed in downtown, Austin.
Downtown Condominium Inventory breakdown:
The median time on the market for a downtown Austin condo is 94 days.
Downtown Condos by Price and Size
Active units currently range in price from $109,900 to just over $5 million. The median list price is currently $325,000. Downtown condominiums currently available for purchase range in size from 494 square feet (per tax record) to 7,113(per agent). The median size of a unit available for purchase is currently 1,219 square feet with 2 bedrooms and 2 baths.
Just as there are many factors that make up the market price of a house, there are many things that factor into the price of a condo. Building amenities, floor height, views, and interior finishes all factor into the price of a condo. You have heard the saying in real estate “location, location, location”, and condominiums are no different. The locations of the buildings within downtown, and the location of the unit within the building, are also factors that will ultimately affect the list price.
Remember: Buyers are not just purchasing a unit in a hi-rise, they are buying convenience. Is Near Town Lake? the Warehouse District? the office? Convenience is defined by the Buyer.