Shapiro Group

If you have been waiting for the right moment to buy a downtown Austin condo, the data just got interesting. Prices are sitting at multi-year lows, but for the first time since 2022, demand is clearly picking up. Here is what the numbers say.

Price per square foot, 2020 to today

Average sold $/sqft by quarter in 78701. The peak came later downtown than in the rest of Austin, then gave it all back.

Quarterly figures average 30–60 closings, so single quarters are noisy; the shape is what matters.

Year over year, side by side

Apr–Jun 2025 vs. Apr–Jun 2026

Demand signal   Pricing signal. Demand recovered first; pricing hasn’t followed yet. That gap is the opportunity.

The pattern here is the one that shows up at most market bottoms: activity turns before price. Inventory is down a third from last year, sales are up almost 40%, and well-priced units are moving faster, but what buyers actually pay per square foot hasn’t budged off the floor. Windows like this tend to close quietly. By the time price confirms the turn, the leverage is gone.

A note on reading the data honestly: these are zip-wide numbers for 78701 covering all condo segments. Premium buildings hold value better than the average, and individual quarters are noisy. But the direction is consistent across every demand metric we track.

Thinking about downtown? We watch this market weekly and know which buildings and which specific units have the most motivated sellers. Reach out and we’ll walk you through what your budget gets you right now versus a year ago.