Q: Who Is Buying Downtown Austin, Texas Condos Right Now?
A: In the new downtown high-rise market that is more expensive, you are getting a lot of the empty nesters and baby boomers that are moving in there. Probably 50% of the market is empty nesters and baby boomers and probably half of the other half, a quarter, is young upwardly mobile professionals and the remaining quarter is probably second homes. So you’ve got a lot of people moving from out of state to have Austin as a place of residence for all the fun and enjoyment that Austin has to offer.
Joe Bryson is a Realtor with Real Estate Alliance, Inc. in Austin, TX.
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