A condo was one of Austin’s top sales last week, disrupting a long streak of single-family dominance.
Unit 48Y in the Austonian was the second-priciest public residential sale in the city, according to the Eklund Gomes Team. The sale price is undisclosed, but the sellers, E. Dale and Nancy Lowe, were asking $3.75 million, or $1,442 per square foot, when the condo sold.
The 2,600-square-foot condo has three bedrooms, four bathrooms and “the signature view” of the capitol and the University of Texas campus, said listing agent Trey Phillips of Eric Moreland Group.
Its layout is unique to the building, he said. It was designed by local architect Ryan Street.
For the past few weeks, homes in Barton Creek and other western neighborhoods have led sales. Last week, though, both of the top two sales were centrally located, with a single-family home about a mile from the Austonian taking the top spot.
Agents tend to list downtown properties publicly because there’s less of a discrepancy between property tax appraisals and actual market values compared to West Austin homes, Phillips said.
Built in 2010 by Benchmark Development and Grupo Villar Mir, the Austonian is one of Austin’s first condo towers. Prices declined after 2022, but downtown Austin condos are seeing demand from downsizing seniors, traveling executives who need second homes, and young professionals.
“The buyer that is buying it is local. He splits time between here and the East Coast, but his primary residence is Austin. And, life phase-wise, he’s an empty nester, so he doesn’t need a big house any longer,” Phillips said. “That’s our number-one buyer profile, folks coming from big, beautiful homes in West Austin.”
It’s been weeks since a condo landed in the top two sales, but a W Residences condo asking $4.75 million sold at the end of September. A $5 million unit at Independent sold in February, and there were two condo sales over $2 million in one week in March. A $6.75 million home at the Four Seasons Residences sold in April.
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