If you need more proof of a changing Austin, try this: average prices for a new “luxury” condominium downtown passed $1 million for the first time last year.

That’s according to Charles Heimsath, whose company, Capitol Market Research, compiled the numbers.  He says prices are high because supply is limited to only four buildings – the Four Seasons Residences, the Austonian, the W Residences, and the Spring Condominium tower– with no new ones under construction.

Heimsath says there are no downtown condo projects currently under construction, because it’s hard for developers to borrow money.

Image by Callie Hernandez for KUT News

A local blog sponsored by the real estate firm Urban Space claims sales of condominiums in Austin increased by a whopping 50 percent in 2010. delved into MLS listings and said sales increased from 112 condos in 2009 to 168 in 2010. The average price increased from $330,344 in 2009 to $343,983 last year, a gain of four percent.