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    a home run year

    Houston home sales shatter records in unprecedented year

    Steven Devadanam
    Jan 25, 2021 | 2:26 pm
    HOU_11 Crestwood Drive
    Luxury homes flew off the market in 2020.
    Photo courtesy of Compass

    Houstonians don’t need a reminder on how brutal the pandemic was last year. But the despair of 2020 certainly didn’t affect local real estate, according to a recent report.

    In 2020, Houston-area home sales sailed by 2019, surpassing 2019 by more than 10 percent, according to data released by Houston Area Realtors (HAR).

    Some 96,151single-family homes sold in 2020, according to HAR’s 2020 annual market report. Overall sales of all property types for the year totaled 115,523, which represents an 11.6 percent increase over 2019’s record volume. It also marks only the second time in history that total property sales broke the 100,000 level, HAR notes.

    Charting more massive growth, HAR adds that total dollar volume for 2020 exploded 18.1 percent — to a record-breaking $35.3 billion.

    Not surprisingly, stay-at-home orders stalled home sales in April and May. However, sales increased each month for the remainder of 2020, with single-family home sales jumping 25.5 percent in December ,compared to December 2019.

    Year-to-date, the average price of a home rose 5.9 percent to $324,069; the median price increased 6.1 percent to $260,000. Meanwhile, home inventory was down to its lowest level in history by the end of the year.

    Just what were buyers snatching up? Homes priced between $500,000 and $750,000 sold the most, at a whopping 80.8-percent. Luxury homes (priced at $750,000 and up), came in second place, climbing 54.0 percent. Home sales in the $250,000 to $500,000 price range rose 44.6 percent, per HAR’s data.

    “When the coronavirus pandemic struck, we expected the real estate business to hit a brick wall and never fathomed the possibility of 2020 becoming a record year for the Houston market,” said HAR chairman Richard Miranda, of Keller Williams Platinum, in a statement. “As we enter 2021, we find ourselves in critical need of inventory if we are to sustain a healthy pace of home sales.”

    home-for-sale
    news/real-estate

    Where to Live Now

    Houston high-rise's 2-story penthouse hits the market at $11 million

    Brianna McClane
    May 12, 2026 | 10:30 am
    ​Penthouse 2502 at The Belfiore
    Photo by Harry Stonhill
    Penthouse 2502 at The Belfiore spans the top two stories of the high rise.

    For those looking to move on up to a deluxe penthouse in the sky — the new $11 million listing at 1275 S. Post Oak Lane, Unit 2502 hits the right note.

    At nearly 9,000 square feet, Penthouse 2502 at The Belfiore spans the top two floors of the 26-story high rise.

    "The team that created Penthouse 2502 offers Houston something exceptionally rare: a brand-new, never-occupied, two-story residence with custom-caliber design atop an established luxury tower," said Justin Dugat of Douglas Elliman, co-listing agent with Misty Meredith, in a statement.

    The penthouse underwent a full build-out in the past seven months under the guidance of Jeffrey Fawaz and Mike Elaridi of Fratelli Companies with Ghandi Saad and Salim Obeid of RSG Development Group.

    “From the beginning, we saw the opportunity to create something truly elevated; not just in design, but in experience,” Fawaz said. “Every detail was approached with intention, and the result is a space that reflects both luxury and functionality in a seamless way.”

    \u200bPenthouse 2502 at The Belfiore

    Photo by Harry Stonhill

    Penthouse 2502 at The Belfiore spans the top two stories of the high rise.

    What was once a blank concrete shell is now an 8,689-square-foot home with five bedrooms, including two primaries and a dedicated 680-square-foot dressing room, along with three full and three half bathrooms.

    The home’s two floors are connected via both an interior lift and a floating staircase that serves as a sculptural centerpiece. Multiple entertaining spaces include a media room, office, wet bar, massage room, and a wine cellar.

    The views are a luxury of their own, with floor-to-ceiling windows and two corner terraces offering panoramas of the east, west, and south.

    The list of elevated features is extensive, including an automated designer lighting system by Lutron and appliances from La Cornue and Gaggenau. Venetian plaster, Italian marble countertops, European cabinetry, and custom white oak herringbone flooring throughout highlight the attention to craftsmanship.

    The Belfiore’s amenities add to the penthouse’s appeal, with a 24-hour concierge and valet, swimming pool, athletic club, private dog park, and — perhaps most enticing in Houston — industrial generators. The perks come with a hefty monthly maintenance fee of $11,157.

    The 45-residence building, completed in 2016, was originally developed by Giorgio Borlenghi of The Interfin Companies alongside McNair Interests, the investment entity of late Texans owner Bob McNair.

    “Houston’s luxury high-rise condo market is gaining momentum, driven by demand for a lock-and-leave, full-service lifestyle,” Dugat said. “As more wealth flows into the city, buyers are prioritizing efficiency, design, and the ability to spend more time living and less time managing a traditional home.”

    high-riseshome-for-sale
    news/real-estate

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