Downtown Austin Real Estate
Downtown
Austin, a multi-faced home base of the city's central business district, city
and state government buildings, two full-fledged entertainment boroughs, three huge
medical facilities, bordering the country's largest university and celebrated city
waterfront park, is now a booming sky rise town.Tightly bordered between N Lamar
to the west, Lady Bird Lake to the south, I-35 to the east and MLK/ The University
of Texas at Austin to the north, there's nowhere to go but up, and a mélange
of builders, developers and urban dwellers have gotten in on the secret that Austin
is the place to be. Read more
Downtown Austin Homes and Properties for Sale
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185 Search Results Found. Showing Results 1 - 15.
MLS# 5545861
555 5thAustin, Texas, 78701
MLS# 5776940
98 San Jacinto Blvd.Austin, Texas, 78701
MLS# 2108549
1510 WESTAustin, Texas, 78701
MLS# 5293094
555 5thAustin, Texas, 78701
MLS# 6300734
555 5thAustin, Texas, 78701
MLS# 6532710
200 LavacaAustin, Texas, 78701
MLS# 6718919
98 San Jacinto Unit 2803Austin, Texas, 78701
MLS# 7435463
200 LavacaAustin, Texas, 78701
MLS# 9551949
555 E 5thAustin, Texas, 78701
MLS# 6525401
555 E 5thAustin, Texas, 78701
MLS# 7931706
555 E 5thAustin, Texas, 78701
MLS# 9249250
200 CongressAustin, Texas, 78701
MLS# 3730280
311 5thAustin, Texas, 78701
MLS# 6734942
98 San Jacinto Blvd.Austin, Texas, 78701
MLS# 8863559
411 BrazosAustin, Texas, 78701
All listing provided courtesy the Austin Board of REALTORS®. All visitors are subject to ABoR's Terms and Conditions of Use
Based on information from the Austin Board of REALTORS® for the period 2008-09-05 12:37:25 through 2008-09-05 16:49:23. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided “AS IS” and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
Take pride in a Downtown Austin
Now that the secret is out, 56 development projects have been announced with 23 under construction or recently completed. This includes over 3,300 units for sale or lease, several new hotels, including the c21, Klimpton and W chains, and major development plans for the Seaholm Power Plant, a 1931 lakefront power plant providing a mixed-use site while retaining the iconic, civil architecture that adds to the city's 'Keep Austin Weird' character.
Already established as a sophisticated college town, fusing cache' as the booming state's capital with notoriety as a cultural dynasty - constant film industry biz + being widely recognized as the 'Live Music Capital of the World' = tourism, imported spenders and relocation, ' a friendlier version of an urban town has erupted at the crossroads of the Texas Plains and bucolic Hill Country.
Also established is the city center's grid and layout. With the State Capital as the focus point (and center of a regime of state buildings) interrupting the flow of main drag Congress Avenue, regions have already taken root. The Bourbon-street feel of the 6th Street District in the southeast sector stakes out a huge core of the city's live music venues, restaurants and bars along a 7-block corridor, playing host to the acclaimed South by Southwest festival, headquartered at the mammoth Hilton Hotel and Convention Center two blocks away.
Northeastern downtown comprises of Brackenridge, Seton and St. David's medical facilities, just north of Red River's music venue corridor, while the Southwestern sector houses the largest redevelopment district with the entertainment-focused Warehouse, 2nd Street and Market Districts; including the Whole Foods flagship store and a retail sector serving not only the hip and contemporary tastes of the new downtown market.
Even nearby outdoor park Republic Square provides free wifi.
If the city's downtown development history has been cyclical, Austin hopes to retain momentum of the latest boom. Retaining its charm since the last high-rise in 1983, mayoral support plus an ever-expanding job market have quickly changed the face of the city, repositioning its focus on densely built areas, areas that are self-contained and amenity-complete in order to reduce automobile traffic and build closer community ties.
The goal: 10,000 people to live downtown by 2010, 25,000 by 2015.
Luxury condos began to exude in 2001 in the establishment of the Nokonah, once home to Ann Richards and Dan Rather, fusing with the Austin mainstays of Whole Foods (employing over 1,000 people downtown), Book People, Waterloo Records and advertising giant GSD&M Idea City (employing more than 500 people downtown).
Topping recent lists* across the nation for business growth, relocation, desirability and affordable construction, Austin has shot up in the luxury market, with mainstays like the Four Seasons Residences (along with the Hilton residences built above the 2001 downtown hotel), currently offering the costliest condos with the allure and amenities of a full-service hotel.
Other hotels will stress the mixed-use approach to development, fusing a hotel's 5-star amenities with luxury living. Also slated for this approach is the c21 Museum Hotel, the Seaholm Plaza Hotel, and the W Austin Hotel and Residences, currently under construction.
In addition to adding more of a luxury element to downtown, the high-rises are set to transform the skyline overnight. Sharing airspace or dwarfing the 33 story/515 foot high Frost Bank, currently the tallest building in Austin are: the Shore condos, almost finished at 23 stories; the Four Seasons Residences, under construction at 32 stories; the W Austin Hotel and Residences, under construction at 36 stories; Spring, under construction at 42 stories; 360, under construction, almost finished, and almost sold out at 44 stories; and the bonafide luxury skyscraper, The Austonian, under construction at 683 feet.
The Austonian pledges to thrust Austin into the high-rise future, with plans for a sky lounge on the 53rd floor, a dog park with self-cleaning dog toilet (!), and units that start at $550,000 and top out just shy of 4 million dollars.
Most new developments swear by providing affordable units, and are offered incentives by the city for creating a balance, but still leave many to fend for the outer boroughs, even with the strength of Austin's competitive job market. Deals are still available for downtown residents however, depending on space thresholds.
Of the 151 current homes for purchase, the median price was $444,450. Of these current homes, 33 fall under the $300,000 range, to balance out the almost 60 condos and (2) houses over $500,000. Five condos are currently available for under $200,000, mostly located in older high-rises by the university's border, and average @ 600 square feet.
91 of the current available homes have been built since 2000, and the median size of all the properties is 1,242 sq feet. 2 bed, 2 bath condos are the most common offering available, and cost from $200 - $500+ a square foot.
Schools serving downtown are varied, with 8 private schools in addition to the city's 5 public schools. Of the public schools, Mathews Elementary School, O'Henry Middle School and Austin High Schools are rated Academically Acceptable by the Accountability Ratings. Bryker Elementary to the north is rated Recognized while Martin Middle School just east of I-35 has room to improve with its Academically Unacceptable rating.
Despite the hiccup of the mortgage market and its slow reform, downtown continues to rise slowly but surely. Recently the 29-story, soon to be completed The Monarch switched from condos to apartments to meet the downtown renter's needs, but also admittedly because the pace of condo buyers didn't meet their needs.
The city aims to stagger this explosive growth to meet a consistent demand, but regardless, the change is coming.
*Some recent accolades:
- - Austin #2 in the world for per capita employment in IT and computer manufacturing ' Silicon Valley Network
- - UT/Austin one of Top Ten Universities that Drive Economic Development - Austin Technology Incubator
- - Austin one of Top Ten Places in the South for the Creative Class ' Southern Business and Development
- - Austin is #2 Best Walking City ' Prevention Magazine
- - Austin in Top 5 Places to Embrace Urban Life by Men's Journal
- - Austin #7 among Hottest Job Markets for Young Adults ' bizjournals.com
- - Austin Top Ten US City for Renewable Energy - SustainLane
- - Austin one of 10 Greenest Cities in America - MSN Cityguide
- - Austin's Green Power Program #1 in Nation - National Renewable Energy Laboratory
- - Austin is Top 5 market for Relocation - Worldwide ERC & Primacy Americas
- - Austin is America's Best City of Hispanics - Hispanic Magazine
- - Austin is No. 1 for Business Vitality - Wall Street Journal and Moody's Economy.com
- - Austin is City Where Business Opportunity is Greatest for Growing Companies - Expansion Management
- - Austin is one of 'America's Favorite Cities' - Travel + Leisure Magazine
- - Austin is 2nd Best Big City in America ' Money Magazine, 2006
Downtown Austin Residential Real Estate Statistics
| 185 Homes for Sale | Beds | Baths | SqFt | Listing Price | Listing Price per SqFt |
| High | 5 | 6 | 7,418 | $3,950,000 | $874 |
| Low | 1 | 1 | 420 | $122,700 | $192 |
| Average | 2 | 2 | 1,500 | $647,507 | $398 |
| Median | 2 | 2 | 1,256 | $412,500 | $382 |
*Please note that active listings include both active listings and homes pending sale but not yet sold.
