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

  Beds Baths SqFt Listing Price LP/SqFt Selling Price SP/SqFt SP/LP SP/OLP DOM
High 3 2 2,126 $295,000 $202.7 $287,000 $202.7 100% 100% 274
Low 2 1 814 $156,000 $122.15 $154,000 $114.82 94% 88.3% 0
Average 2 2 1,340 $202,179 $157.5 $197,700 $154.53 97.78% 95.14% 94
Median 2 2 1,259 $165,000 $138.76 $165,000 $135 98.7% 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.


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