This is one of the fastest growing housing segments in Texas
01/25/2016 | Author: Editorial Staff
"Texas’s economic prosperity continues to make luxury home sales one of the strongest sectors of the Texas housing market, particularly in the $1 million to $1.5 million range," says Leslie Rouda Smith, chairman of the Texas Association of REALTORS®. Her statement comes as part of the 2016 Texas Luxury Home Sales Report released today by the Texas Association of REALTORS®.
The report cites sales volume increases from 4.5% to 36.4% for homes sold at $1 million or more in the four major Texas markets. The price-per-square-foot for luxury homes is often double or triple that of a typical single-family home, due to higher-end building materials and amenities. Furthermore, some homebuyers are purchasing older homes in prime locations for less than $1 million to demolish and rebuild a new home in its place.
Download the full report to see all the luxury-home statistics for Austin, Dallas-Fort Worth, Houston, and San Antonio.
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