TEXAS – The number of Texas homes sold for $1 million or higher jumped 19.1 percent and topped $7.5 billion in total sales dollar volume in 2017.
That is according to the 2017 Texas Luxury Home Sales Report released by the Texas Association of Realtors.
From October 2016 to November 2017, Texas luxury home sales jumped to 4,622 sales, making luxury home sales the smallest but fastest-growing segment of the Texas housing market in 2017.
During the same time frame, the sales dollar volume of Texas homes sold for $1 million and higher was $7,558,278,236, a 19.9% increase from the same time frame the year prior.
Despite the surge in sales volume, the median price for Texas luxury homes in the first ten months of 2017 remained unchanged year-over-year at $1,350,000.