Houston Ranks in Luxury Home Sales

In the official Texas Luxury Home Sales Report, released in January by the Texas Association of Realtors, luxury home sales continued to be one of the fasting growing home sectors for last year. The 2016 Texas Luxury Home Sales Report quoted sales volume increased from 4.5 percent to 36.4 percent for homes sold at $1 million or more in the state’s four major markets -Houston, Dallas-Ft. Worth, Austin, and San Antonio.

In this $1 million or more price class, homebuyers tended to purchase homes on smaller lots, but in higher-end locations with extravagant amenities. Of all four luxury markets, Houston’s market saw the highest amount of luxury home sales for last year. Home sales reached 1,284 from January to October 2015, which was a 4.5% increase compared to the same measurement period in 2014. Houston’s sales represented about 2 percent of the luxury home market sales.

Lux Home Sales

The price per square foot in a “luxury” Houston home is $333 per square foot, which is three times higher than the average home. The median home price for a luxury Houston home was $1,395,000, a slight increase of .4 percent from the previous year. The home sales report also cited that it took an average of 78 days to sell a luxury Houston home, while the average Houston home only took 29 days to sell.

Texas’s other major markets, Dallas-Ft. Worth, Austin and San Antonio, also showed growing numbers in the luxury market.

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About fulshearrealestate

With over 20 years of working in the greater Fulshear/Katy market, RE/MAX Realty West has become an integral part of the community and the number one choice for clients to find their next home. We are intimately familiar with the rich history and the wonderful communities that this area has to offer, not only because we work here, but because this is the community that we, ourselves, call home. As a friendly, boutique office, our goal is to provide our clients with an unequaled level of service. Whether you are finding the right home or looking to put your current house on the market, RE/MAX Realty West can help you every step of the way. Our experience helps clients find the right home, in the right location. We specialize in the greater Fulshear and Katy communities including Weston Lakes, Fulbrook, Cross Creek Ranch, Fulshear Creek Crossing and Firethorne. We also serve the acreage communities along the FM 359 corridor, which include the quaint neighborhoods of River Forest, Texana, Woods Edge and Grand River. Additionally, we handle the large Katy Master Planned Communities including Cinco Ranch, Seven Meadows and Grand Lakes.
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