Booming Downtown Austin condo market maturingBooming Downtown Austin condo market maturinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=59982015-08-31T05:00:00Z2015-09-01T14:00:00Z

​​​​​​​AUSTIN - Nearly 2,500 condo units have been added to the downtown market since 2000, with more than 1,200 units currently under construction or in the planning stage.

Downtown condo sales have increased 10 percent every year since 2010, said Austin real estate broker Kevin Burns.

The ongoing demand and increased competition — which includes a number of high-rise projects — has led to a maturing of the market, industry experts say, with residential projects being designed more thoughtfully and endowed with more with amenities and services.

Burns said 270 downtown condos were sold in the past 12 months through the Multiple Listing Service, the Austin Board of Realtors’ listings database. The average price of the 83 units currently for sale in the MLS is $918,300.

Projects in the planning pipeline include the 370-unit Independent high rise; 70 Rainey (150 units); Waller Park Place (200 units); and Proper (94 units).​​

​Downtown Austin by the Numbers​​ ​
​Residential population​About 12,000
​Apartment units built
since 2000
​Condo units built
since 2000
​Apartment units currently
under construction
​Condo units under
​Apartment units in
planning pipeline
​About 1,075
​Condo units in
planning pipeline
​About 725

Sources: Like pictures and data? Don't miss Aug. 2015 City of Austin Emerging Projects. You'll be glad you clicked! Also see Downtown Austin Alliance.

Austin American-Statesman
Austin-Round Rock
http://www.mystatesman.com/news/business/amid-boom-austins-downtown-condo-market-maturing/nnSHg/#84276d5d.3380261.735841Read more at the {Source}

 Search NewsTalk Texas