Sage Auction Results

August 24, 2009 07:52 Filed in: News
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. Approximately 300 people packed into the auction at the Hyatt Regency. In this auction, each winning bidder was allowed to choose any remaining unit to purchase.

Winning bids ranged from $151K for a 1,262 square foot unit to $253K for an 1,847 square foot unit including the mandatory 10% buyer's premium. Winning bids ranged from $121 to $161 / per square foot with an average of $131 per square foot.

Not surprisingly, the units with downtown views fetched the highest prices. The project is located roughly a mile south of downtown on Lamar, a more central location than the Bel Air, which also sold units via an auction earlier this month.

Sage Condo Auction Austin

Here are the full results of the auction:

Rank

SF

Price
Price + 10%
$/SF

1

1,847

$230,000
$253,000
$137

2

1,751

$220,000
$242,000
$138

3

1,751

$220,000
$242,000
$138

4

1,751

$220,000
$242,000
$138

5

1,521

$215,000
$236,500
$155

6

1,521

$190,000
$209,000
$137

7

1,521

$185,000
$203,500
$134

8

1,262

$185,000
$203,500
$161

9

1,521

$180,000
$198,000
$130

10

1,521

$175,000
$192,500
$127

11

1,521

$175,000
$192,500
$127

12

1,521

$175,000
$192,500
$127

13

1,521

$170,000
$187,000
$123

14

1,521

$170,000
$187,000
$123

15

1,521

$170,000
$187,000
$123

16

1,472

$160,000
$176,000
$120

17

1,472

$160,000
$176,000
$120

18

1,173

$160,000
$176,000
$150

19

1,266

$147,500
$162,250
$128

20

1,262

$140,000
$154,000
$122

21

1,262

$137,500
$151,250
$120

22

1,262

$137,500
$151,250
$120

23

1,262

$137,500
$151,250
$120

Here is a video of the first unit to be auctioned posted by Jude of the Downtown Austin Blog:

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