• The first quarter of 2019 brought new heights to market fundamentals, with absorption surpassing 540,000 sq. ft. and vacancy falling to 9.3%.

  • Once again, the citywide average asking rate rose to a new historic high as developers actively pursued bringing approximately 5.1 million sq. ft. of new product to the market.

  • First quarter absorption registered 548,351 sq. ft. of positive net demand, driven mostly y large-scale tenants occupying pre-leased space in buildings that delivered in late 2018.

  • Vacancy rates decreased 30 basis point from 9.6% in Q4 2018 to 9.3% in Q1 2019. 

  • The Full-Service Gross asking rate for Q1 2019 was $37.62 per sq. ft., a new record high for the Austin market.

  • Unemployment ticked up to 3.2% in January 2019, still well below the state average of 3.8% and the national average of 4.0%.