If you've spent any time downtown lately, you've probably noticed construction on new luxury condos.
Right now, four are being built and more may be coming.
We wondered, why so many? Are these places selling and, if so, who is buying them?
Dr. Johnny Franco is a board-certified plastic surgeon looking to purchase a luxury condo downtown.
"There's a couple of reasons that I love downtown. It's the community atmosphere," Dr. Franco said. "I mean, I've lived in Miami, St. Louis, a bunch of other places and no place is like this. There's just so many different things to do in one spot. You don't have to drive, you can walk everywhere."
Downtown living is something that's proving to be appealing to many people.
"According to the most recent statistics from Independence Title, the sales have gone up by 1.2 percent between 2016-2017," Realty Austin Realtor Katie Jackson said.
"In the $3 million plus pricepoint, we've seen a double in sales," Kuper Sotheby's Broker Associate Leslie Gossett said.
So, who is buying?
"There is no typical downtown buyer," Jackson said. "It's all across the board."
In the last three months, Jackson reports there were 51 condo sales downtown ranging in price from about $200,000 to $3.5 million. On average, these places lasted just over two months on the market.
"I think that there is a desire to have a lock-and-leave lifestyle," Jackson said. "Near us, we have 5th & West going up. We have The Independent and Austin Proper."
Realtors report that in two of those buildings, already more than half of the units have been reserved.
"The demand is there to support the construction," Gossett said. "With all these different sectors, the manufacturing, the service sector and the technology, we have all these jobs. We need a place to house these people and they make really good income."
Gossett recommends if you're on the fence about buying, doing it sooner rather than later is a good idea because interest rates are expected to rise.