Luxury home sales and dollar volume were up more than 10% year-over-year, according to the 2018 Texas Luxury Home Sales Report.
The Texas Luxury Home Sales Report examines the market for homes sold for $1 million or higher in the Austin, Dallas-Fort Worth, Houston, and San Antonio metropolitan statistical areas.
From October 2017 to November 2018, 5,123 Texas homes sold for more than $1 million, an increase of 11.5% over the previous year. The dollar volume of Texas luxury home sales was $8,361,918,994 in the same period, an 11.3% increase. Homes sold for more than $1 million made up 8.5% of all sales dollar volume during the same span.
“Similar to other price ranges of the Texas housing market, luxury home sales are being driven by a thriving economy and an influx of out-of-state buyers moving to Texas,” said Kaki Lybbert, chairman of Texas REALTORS®.