360 Condos Sales – Trailing 12 Months

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Sales at 360 Condos, trailing 12 months as of September 2014 [click to enlarge]

Jude Galligan, owner of REATX Realty

Call Jude Galligan, REALTOR at 512-236-8898 for a current estimate of your condo’s value.

As of September 2014, over the past 12 months, 360 has observed 54 transactions recorded, averaging $511.57 per foot, with a median price of $505.64 per foot.

One bedrooms
Average = $505/ft ($390,058)
Max = $566/ft ($485,000)
Median = $505/ft ($379,000)
Minimum = $463/ft ($344,000)

Two bedrooms
Average = $524/ft ($605,160)
Max = $690/ft ($761,000)
Median = $510/ft ($612,500)
Minimum = $471/ft ($500,000)

Outlook:

Prices for 360’s resales should continue to grow steadily, so long as inventory of new construction remains low in the downtown condo market.  With Seaholm Condos now 80% under contract (and wait list expected to fill-in the remaining 20%), currently, the only building with new product is the Austonian.

We expect to hear an announcement for one or two new condo high-rises this year, but anything announced would not deliver for another 18-24 months from a new project breaking ground.

Investors and landlords across downtown are observing rents remaining flat, or even decreasing, as the number of apartment buildings that have been delivered are absorbing much of the rental demand.

In the short run, we expect to continue to answer questions about how views will be affected by Seaholm and Block 1.  Once completed the additional ground floor shopping that comes along with Seaholm will reflect positively on values at 360.

-Jude

For a current estimate of your condo’s value, call Jude Galligan, REALTOR at 512-236-8898

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