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There is a direct connection between a city’s job market and the real estate market. Secure and growing job market helps the city’s real estate to expand. So far as Texan capital Austin is concerned, it has topped the list of nation’s top job markets for the third consecutive month. Between the period of April 2008 and 2009, the city has created 3,400 new jobs, and employment in the city grew upto 0.4% during the time.

A healthy job market is the primary driver of real estate activities. Since condos are the preferred choice of the new age home buyers, the recent job growth has made a positive contribution toward the growth of Austin condo market.

Over the past 8 weeks the Austin condo market remained surprisingly upbeat. With buyers sealing the deal at a rather high speed, it is hoped that 20 months long slog period has at last come to an end.

As revealed by the MLS data: up to May 2009, there was a 1% year-over-year increase in the per-square-foot prices of the Austin condos. This estimate does not however include the Brazos Place and the Shore deals. Had these two new Austin condos been included in the estimation, the square foot prices might have been higher.

Of all the Austin neighborhoods, the downtown has the biggest market for Austin condos. From the historic Westgate condos to the landmark Brown Building Lofts, from the Hilton branded, much hyped 5FiftyFive to the chic 360 Condos---downtown Austin is replete with cutting edge sky scrappers as well as classic condominiums with historic charms. As a whole, Austin has the region’s finest collection of condominiums. Many new Austin condo projects are on the card and as such Austin is going to emerge as one of the hottest condo and loft market in the country.

Here is the list of the major Austin condos, including the finished as well as the pre-construction condos.
Spring Condos - New Construction
The Austonian - New Construction
Four Seasons Residences - New Construction
The Shore - Pre-Construction
W Austin Residences - Pre-Construction
Westgate Tower
The Nakonah
360 Condos
5FiftyFive
Brazos Place
Milago Condos
Towers of Town Lake

Apart from the high end Austin condos, there are plenty of mid-range condos to choose from. The prices start from as low as $200,000 and can be as expensive as 3 millions and more.

Austin has one of the most stable condo markets in the country. There was no bubble like surge in the prices of Austin condos during the 2006-7 real estate boom. Since the city continues to experience an inbound migration, thanks to a growing job market, the prices of the Austin condos remained more or less stable during the worst phase of downturn. All these indicate that Austin condo market will remain strong in the upcoming years.

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