What does it cost to buy a home Downtown Austin right now?
Now that we’ve rung in 2018, we’re back on the residential real-estate case, working with analytics site NeighborhoodX to a close look at the range of sales asking prices—per square foot, rather than by total price—in various Austin neighborhoods.
Downtown Austin is generally considered to range from East Martin Luther King Jr. Boulevard to Lady Bird Lake (north to south), with the eastern and western boundaries being I-35 and North Lamar Boulevard, respectively.
The current average asking price for Downtown properties is $602 per square foot, ranging from $205 per square foot (a planned single-family Clayton & Little home in Judge’s Hill asking $1.15 million) to $1,500 per square foot (a penthouse at the W Residences designed by Michael Hsu on the market for $3.45 million).
A year ago, the average asking price was $609 per square foot, ranging from $273 per square foot to $1,589 per square foot.
“Year over year, we’ve seeing a slight pullback at the upper level of the market,” said Constantine Valhouli, director of research for NeighborhoodX, via email, “but the middle and more affordable end of the market are driven by different economic factors.”