Luxury home sales are one of the fastest growing segments within the Texas housing market, chalking up double-digit growth among three of the state's four major cities, according to Texas Luxury Home Sales Report.
Based on data from The Real Estate Center at Texas A&M University, the most recent report analyzes 2013 year-to-date sales data of homes priced one million dollars and higher in Austin, Dallas-Fort Worth, Houston and San Antonio during that period.
In Houston, 1,060 luxury homes were sold between January and October 2013. Compared to the same time frame in 2012, the leap translates to the second fastest-growing price class with a 46 percent increase.
A few notables featured in CultureMap’s continuing On the Market series and real estate news include:
- 405 Timberwilde Lane in Memorial, an enchanting country chateau-inspired 16,414-square-foot home with five bedrooms and eight bathrooms. The mansion was listed at $15 million; sales price was not disclosed.
- 1722 River Oaks Blvd., an Old World-style mansion redolent of champagne wishes and caviar dreams, is believe to be the most expensive home in Houston to be sold last year. The asking price was $14 million; sales price was not disclosed. It was purchased by attorney Tony Buzbee.
- 3688 Willowick, Bayou Breeze, a 16,022-square-foot custom wonder on a secluded 3.7-acre bayou lot in the middle of River Oaks, remains on the market for $16,995,000.
The report also reveals that 439 luxury Austin homes sold between January and October 2013, the fastest-growing price class by far in that city with a 55 percent increase from the same period in 2012.
In the Dallas-Fort Worth area, 809 luxury homes sold between January and October 2013, a 22 percent increase.
In San Antonio, 86 luxury homes were sold between January and October 2013, marking an 8 percent increase in sales compared to the same period in 2012.