Nokonah shows strong Price Appreciation, 360 Growth Flat

It's well known that the value of a condo is mostly determined by the value of the building. No matter what improvements you make to your Railyard condo unit, it will sell for less on a $/SF basis than a unit in the Austonian. For this reason, we've crunched our full-year 2011 data to see how various buildings performed in terms of realized pricing and appreciation over the last year. If you live downtown, view this as a handy guide to the likely value of your unit.

Here is what we learned:
- The most expensive projects are all new: the W ($620/SF), the Austonian ($557/SF), and Spring ($436 / SF).
- Units in the W averaged an insanely high $1.24M each
- 360, the largest downtown project, had the most annual sales at 46: almost one per week
- Greenwood saw the highest rate of year-over-year price appreciation at 16.8%, followed by the Nokonah at 15.9%.
- Two condo conversion projects, the Brown Building and Brazos Place, saw the largest yea-over-year price declines (-11.0% and -10.5% respectively)
- Greenwood, Towers on Town Lake and Sabine were the most affordable downtown projects and also some of the fastest appreciating
- The two biggest selling projects, 360 and Shore, saw relatively flat price appreciation
- Milago stood out as a high performer with solid sales volumes, price appreciation, and very rapid sales

Here is the full analysis:

2011 MLS Sales Result by Building: Price & Sales Trends
Project
Sales
Avg $
$/SF
2010 $/SF
Y/Y %
Avg SF
% Ask
ADOM
W Austin Hotel & Residences

6

$1,244,331
$620
n/a
n/a
1,958
98.1%
156

Austonian

3

$948,333
$557
n/a
n/a
1,711
94.2%
84

Spring Condo

9

$471,056
$436
n/a
n/a
1,076
94.3%
46

Nokonah

8

$555,451
$390
$337
15.9%
1,325
95.3%
133

360 Condominiums

46

$355,745
$377
$378
-0.5%
935
97.2%
67

Austin City Lofts

8

$664,125
$363
$373
-2.8%
1,775
95.4%
74

904 West

10

$241,126
$352
n/a
n/a
684
98.7%
116

Shore A Condo

19

$350,850
$311
$306
1.8%
1,113
95.6%
89

Brazos Lofts Condo Amd

4

$380,375
$302
$305
-1.0%
1,256
96.4%
128

Plaza Lofts

3

$515,000
$301
$288
4.3%
1,679
94.6%
260

Five Fifty 05

8

$426,813
$300
$299
0.5%
1,423
95.3%
80

Milago

17

$335,293
$285
$265
7.5%
1,135
97.9%
31

Railyard Condo

8

$200,027
$266
$251
6.2%
776
97.1%
68

Brown Building

8

$321,119
$259
$291
-11.0%
1,243
96.9%
84

Cambridge Condo

7

$335,301
$233
$254
-8.0%
1,440
93.5%
117

Brazos Place

4

$217,850
$228
$255
-10.5%
943
98.4%
70

Avenue Lofts

4

$302,125
$228
$242
-5.8%
1,299
95.2%
131

Sabine On 5th

4

$215,000
$213
$205
3.7%
1,017
95.4%
95

Towers Town Lake

11

$299,636
$207
$194
6.8%
1,428
96.0%
137

Greenwood

5

$108,500
$178
$153
16.8%
610
95.7%
29

2011 MLS Sales Results by Building: Least and Most Expensive Units

Project

MIN $
SF
$/SF
Max $
SF
$/SF
W Austin Hotel & Residences

$540,000

840
$643
$2,325,000
3229
$720

Austonian

$925,000

1606
$576
$970,000
1918
$506

Spring Condo

$230,000

565
$407
$775,000
1704
$455

Nokonah

$210,000

771
$272
$1,200,000
2497
$481

360 Condominiums

$245,500

728
$337
$555,000
1280
$434

Austin City Lofts

$385,000

1087
$354
$1,081,500
2747
$394

904 West

$189,000

577
$328
$315,000
891
$354

Shore A Condo

$168,400

535
$315
$616,250
1513
$407

Brazos Lofts Condo Amd

$306,500

1084
$283
$470,000
1476
$318

Plaza Lofts

$315,000

1243
$253
$625,000
1897
$329

Five Fifty 05

$275,000

1117
$246
$830,000
2832
$293

Milago

$188,000

865
$217
$855,000
1927
$444

Railyard Condo

$139,000

494
$281
$274,000
1125
$244

Brown Building

$190,000

754
$252
$476,250
2029
$235

Cambridge Condo

$248,000

1189
$209
$424,000
1912
$222

Brazos Place

$169,900

723
$235
$340,000
1324
$257

Avenue Lofts

$225,000

1152
$195
$485,000
1614
$300

Sabine On 5th

$180,000

951
$189
$310,000
1454
$213

Towers Town Lake

$219,500

1357
$162
$570,000
1743
$327

Greenwood

$100,000

608
$164
$120,000
594
$202