We've once again updated the listings page -- adding MLS Listings for Star Riverside. Whenever units are listed in the MLS, they will appear immediately on the Austin Towers listings page. You'll find the Star Riverside listings here:

Star Riverside Listings

Today, there are 6 units listed ranging from a 670 square foot 1/1 for $345K to a 935 square foot 2/2 for $517K to a large 2,315 square foot 3/2 for $1.37M. The smallest unit comes with one parking space and the largest with 2 spots. These units are expected to be ready for move-in in 2009.



Austin Towers is the only source for current building-by-building listings. In addition to the standard Multiple Listing Service (MLS) listings provided by realtors on completed projects, the listing guide also provides direct links to developer listings which are not included in the MLS.

Tags: listings

Earlier this month, the developers of the W Hotel & Residences announced successful funding of the project and immediately broke ground on the 165 condo unit and luxury hotel project. Once the W Hotel is completed in 2010 and the Condos completed in 2011, the project will also contain the 2,480-capacity venue for "Austin City Limits" as well as other restaurants, bars, and retail.

For the first time, actual listings are now available on the MLS, and as always, we have added the W to our Condo Listing Page.

As of the beginning of the month, just more than half, 85 of the 165 units, are under contract with nonrefundable 10% deposits. Amazingly, the average price of sold units is an amazingly high $1.1 million with prices ranging from the high $400,000s to more than $3 million. The three listings on the market today (many more are being sold directly) range in price from $617,500 for a large 1,149 square foot 1 bedroom / 1 bath unit to $2.875 million for a 3,932 SF 3 bedroom / 3 bath unit.

Owners of W Austin Residences will have full use of all the hotel's facilities as well as access to 24-hour room service, daily housekeeping service and concierge services, and a spa in the building. Whatever, Whenever service provides the closets thing to a personal butler: call them to shop for groceries, take a dog for a walk, fix a flat tire, of pick-up take out on your behalf.

Here are renderings of the planned interiors:







The W Residences Listings can be found here.

Tags: listings, w hotel & residences

The Austonian is one of the most luxurious and desirable downtown projects currently under development. With an unusually secretive sales process, details on pricing and sales have been hard to come by.

Over the last few weeks, many new details have become public as the project has begun to list a small number of unsold units on the Austin Multiple Listing Service (MLS). Starting today, we have added these listings to the AustinTowers Listings page. The new Austonian Listings can be found here.

The 4 listied units (as well as a fifth on the Gottesman Residential site) show a broad range of prices for units, with the highest prices rightfully reserved for the units on the highest floors. The prices for listed units range from $559,000 to $1,855,000 for units ranging from 1,221 to 3,129 square feet. What the units have in common is that they are in an exclusive building with super-high-end finish out, appliances, and building amenities.

One of the most interesting details to emerge is the variance in pricing on a per square foot basis from unit to unit. For the five listed units, price per square foot varies from $458 / Square Foot to a whopping $830 / Square Foot for Unit 41Q, a 2,235 square foot 2 bedroom unit on the 41st floor.

The following new renderings provide an interesting glimpse into the the planned Austonian interiors:











Visit the new Austonian Listings and listings for more than a dozen other projects on the AustinTowers.net Listings page here.

Tags: listings

Since many of the large new condo projects are being privately marketed through in-house sales agents, the only way to get unit details and pricing is to schedule a meeting and visit the sales center. Recently, however, the Four Seasons Residences has added a number of units to the Austin MLS -- making the details publicly available for the first time.

Currently, there are 8 units listed ranging from a 1,060 SF one bedroom unit for $580,000 to a 2,692 SF three bedroom, three bath unit for $1,918,000. One interesting note is the wide variance in price-per-square-foot which ranges from $459 to $764 -- it's highest for the largest units.

The listings, as well as new listings for Sabine on 5th, are available Here: AustinTowers Downtown Condo Listings

Tags: costs, listings, four seasons

Now that it is open and available for occupancy, the 240 unit Milago is completely sold out. Despite the fact that all units have been purchased, it is curious to see 30 units -- 1 / 8th of the building -- currently listed on MLS. While some could be from people whose plans have changed between when they signed the contract and now, the most likely option is condo flippers.

It will be interesting to see what happens. While the Austin market increased by 5% last year, this is hardly the sort of growth that gets flippers excited. Now, with 30 units competing for buyers, it will be interesting to see how fast they turn and whether prices increase as the market strengthens.

Tags: investment, mls statistics, market analysis, listings

The purpose of Austin Towers has always been to help downtown austin condo buyers to find the right project and unit. Today, Austin Towers launches a new listing section which will help make this a reality!

The way most people choose a condo is by figuring out which building or buildings they want to live in and then looking to see which units are available. Unfortunately, there has been no great way to do this. With Austin Towers listings, buyers can now view both MLS and developer listings on a building-by-building basis.

With this update, Austin Towers has also added 8 completed projects and a completed project navigator to the site. This will help buyers evaluate and search for units in existing buildings in addition to te many new developments that we have always covered.

Here are the links to the new capabilities:

- Condo Unit Listings
- Completed Project Navigator

And the following new profiles:

- 5 Fifty Five
- Austin City Lofts
- Avenue Lofts
- Brazos Lofts
- Brown Building
- Milago
- Nokonah
- Plaza Lofts

Tags: listings, about austintowers, 5 fifty five, milago, nokonah

The Nokonah, A luxury high-rise project completed in 2002, was one of the first successful projects that helped to ignite the current condo boom in downtown Austin. The 11-story project is located at 9th and Lamar just north of Whole Foods and on the western border of downtown. When the Nokonah was built, the real estate market in Austin was stalling as the regional economy slowed. It was not clear how well the new project would do. Five years later we know the answer: the project sold out and the buyers have seen significant appreciation in the value of their units.



In order to better understand condo values in the downtown market, we've begun a comprensive analysis of public tax records (tax records are available online through the Travis Central Appraisal District) to better understand downtown condo market values and how they have changed over the last five years. This analysis, which tracks every unit in the Nokonah, shows appraisal value and $ / SF by floor, apartment size, # of bedrooms, and year. The data is fascinating and will be a useful tool for anyone looking to purchase a downtown condo (Register for the full report).

For example, the analysis shows that the average appraisal value of Nokonah units rose 61% from $233 in 2003 to $376 in 2006 - a growth rate of 17% per year. This is more than trible the 5% annual growth rate in sales prices for the Austin market during the same time period. Even as other projects have hit the market, Nokonah values have continued to increase in value.

While the average appraised value is $376 / SF today, there is incredible variance. If you're trying to figure out what the right price is to pay for a new unit, the Nokonah data is very interesting: current appraised values actually range from $230 / SF to $498 / SF depending on size, floor, bedrooms, etc. In future postings, I'll dive deeper into the factors that make a unit more or less valuable.

Over the next few weeks, I plan to post more information from the Nokonah analysis in this blog. In addition, I am going to provide all registered members with direct access to the spreadsheet with all of the data. This will be a great tool for anyone who is trying to ensure they don't overpay for an Austin condo or anyone who is interested in better understanding Austin condo market dynamics. Registration is absolutely free -- just click the link on the top of the page and complete our very brief survey. The summarized data will be published in a future post, and it will help AustinTowers better understand our readers. Please register -- you'll receive a link to the full Nokonah analysis later this month!

Tags: investment, mls statistics, market analysis, listings