West Austin Condo Sales Report For June 2010

We were curious how condominium sales have been in West Austin, most specifically the areas beyond Capital of Texas Hwy toward Lake Travis.  Usually condominiums are the first sales to suffer in a market downturn, but are also the first to rise during market appreciation periods.  Below is our findings from a recent MLS report we pulled for West Austin condo sales in MLS Area RN:

Property Type: Residential

Status: Sold

Number of Properties: 5

 BedsBathsSqFtListing PriceLP/SqFtSelling PriceSP/SqFtSP/LPSP/OLPDOM
High322,126$295,000$202.7$287,000$202.7100%100%274
Low21814$156,000$122.15$154,000$114.8294%88.3%0
Average221,340$202,179$157.5$197,700$154.5397.78%95.14%94
Median221,259$165,000$138.76$165,000$13598.7%94.5%76

How are West Austin Condos Selling?

For the month of June 2010, there were 5 condos that sold in Area RN.  Two of these five were in MonteVista Condos — a condo conversion off of 360 and 2222.

As you can see from the data, the average price per square foot is $154.53, and the median price per square foot is $135, based on June 2010’s sales comps.   There are currently 29 condos for sale in MLS Area RN, 18 of which are in MonteVista.  For those who are unfamiliar with these condos, we recently wrote a blog post titled The Great Debate About MonteVista Condos in West Austin, where we outlined whether we felt that purchasing one of these condos was a wise investment decision.

In a few days July will be over, and we will be able to compare June sales to July sales, and see just how condos sales are performing this summer in the greater West Austin area.

About Joseph Ensor

Joseph Ensor is an Austin Realtor and the co-founder of ENSOR Real Estate Group. In addition to representing select clients, he works closely with each of his team members to help them build a successful career in selling Austin real estate. As a graduate from Arizona State University with a degree in Finance, he enjoys helping his clients and his team members with the mathematical side of each transaction. With over 18 years of experience in real estate investing and sales, he understands the overall complexities involved in a real estate transaction. He uses his expertise to overcome challenging situations and his objective is to work diligently and intelligently toward a positive outcome for his team and for his clients.

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