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Neighborhood Market Watch: Downtown Austin

In an ongoing series for Curbed Austin, real-estate analytics site NeighborhoodX is taking a close look at sales prices ranges in different neighborhoods.

This week, the analytics site took on Downtown—or part of it—from East Sixth Street to Lady Bird Lake (north to south), with the eastern and western boundaries being I-35 and North Lamar Boulevard, respectively.

Of course, that's the part of Downtown where the action (or a lot of it) is, construction wise. It's interesting to see what effect, if any that might have had on home sales asking prices there.

For this section of Downtown, the average asking price was $601/square foot, but the properties contributing to that average ranged from $495/square foot (800 West Fifth Street #1201) to $1,326/square foot (200 Congress Avenue #43MT).

On the high end of the range, 200 Congress Avenue #43MT included three parking spaces with the residence, so the price/square foot reflects the value of these as well. On a price/square-foot basis, that property compares with the $1,389/square foot asking price for 3148 Above Stratford Place in West Lake Hills last month.

For more context, the most affordable property in this section of Downtown ($495/square foot) is still more expensive than the highest-priced residences (on a per-square-foot basis) in Brykerwoods ($425), Holly ($491), and Central East ($455), based on our April analysis.

Putting the neighborhood in perspective, the most expensive residence currently listed in the most expensive neighborhood in Austin (on average price/square foot)—meaning Downtown—the 200 Congress Avenue place, at $1,326/square foot is comparable the average selling price in New York City's Greenwich Village or the area of Santa Monica south of Montana in Los Angeles.

You can view NeighborhoodX's full, interactive chart at the link below.

Austin Homes in the Range: Downtown Below 6th Street [NeighborhoodX]