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Despite Public Speculation, DT Condos Selling Fast

Although resales have declined through September, the condo market is moving fast and furious.  According to Travis County data, there were at least 30 closings on downtown condos for October and at least 21 of them were at the 3 latest downtown condo buildings:  Four Seasons Residences, Spring Condominium and The Austonian.

These numbers come out better than most local economists had projected.  In fact, ”real estate experts have been waiting to see more transparent data on the newer condo buildings to see whether higher-priced condos could sell at a time when people are facing challenges obtaining financing or are holding back on buying,” as reported by the ABJ.

“Courtney Oldham of The Oldham Group-Keller Williams Realty has marketed and shown condos at Barton Place near Zilker Park.  She said the limited supply is a selling point because the market wasn’t overbuilt,” according to the ABJ’s latest article on condo sales. 

“I don’t think that anyone has a crystal ball on when the market will start to increase again, but we are poised to come out a lot faster because there’s just not a lot of supply,” Oldham said. 

To read the full article, go to http://bizjournals.com/austin/print-edition/2010/11/12/verdicts-in-those-condos-did-work.html.  Story written by:  Francisco Vara-Orta.

We are especially proud to post this latest article featuring a quote from our fearless leader, Courtney Oldham.