AustinTXEstates

When high-rise condominium projects started appearing in the downtown skyline, many Austinites were curious and skeptical about what the demand would be for these condos, and if they may just be finished to remain empty.

But News 8 Austin reported on Tuesday that now, Downtown living flourishes.

“According to the Downtown Austin Alliance, since 2007, 1,562 condos have been built or are currently under construction. Of those, 73% have been sold,” they report.

“Conveniently located to everything around here, easy to get around, public transportation, bikes, walking; it’s the best,” says Chelsea Write, a downtown Austin resident. She is living in the 360 Condos, a development that has every unit sold.

While downtown condos are showing to be a solid investment, there are still good deals to be made. “I don’t know of anything that is selling for full price these days, but the fact that these condos are selling is remarkable,” says Tom Stacy, President of Austin’s Downtown Alliance.

Although don’t expect prices to fall much further. “Stacy says more than likely, prices won’t fall that much, because soon, demand will outweigh supply. ‘There won’t be any new construction starts for probably another four or five years, so the condos being built now, that’s it,’ Stacy said.”

Our Downtown Austin Luxury Condo is a 3 bed/2.5 bath, 2,039 Square Foot condo with stunning panoramic views of the city. It’s reduced price is $899,000. You can see the full listing, and more stunning pictures, here.

Tags: Austin, Austin Downtown Alliance, Condominiums, Condos, Investment

This entry was posted on Thursday, September 10th, 2009 at 7:52 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.