It looks like the 11th time is the charm for developers Matthew Morgan and Kevin Kirton, whose proposed 23-story highrise on Ashby near Rice University has finally received approval from the city. In the past two years since the building was first proposed, the number of residences has been reduced from 226 to 210 and plans for executive suites, retail space and a spa have been scrapped in order to meet the projected traffic standards. Residents of Southampton who have made yellow "Stop Ashby Highrise" signs a semi-permanent fixture say they will continue their fight to preserve the character of their historic neighborhood.
news/real-estate
luxury real estate
Houston had 2nd-highest share of luxury home sales in Texas in 2025
Jan 9, 2026 | 9:15 am
Estately.com/
This home at 10106 Meadow Lake Ln. in Houston's Briargrove Park neighborhood is on the market for $1.95 million.
A new luxury real estate report reveals Texas broke a record for the highest number of million-dollar homes sold from November 2024 to October 2025, and the Houston-Pasadena-The Woodlands metro boasted the second-largest share of million-dollar home sales statewide.
A total of 14,418 Texas homes were sold for at least $1 million last year, generating a record-breaking $24.5 billion, according to Texas Realtors' 2025 Texas Sales of Million-Dollar Homes Report. The number of luxury home sales in the state soared 12 percent compared to the previous year.
Million-dollar home sales in the Houston metro made up 27 percent of all luxury home sale transactions in Texas during the 12-month period, the report found. The total sales dollar volume of Houston-area homes that sold for $1 million or more added up to about $6.8 billion last year, or about $1.1 billion more than it did during the previous period from November 2023 to October 2024.
Nearly 3,950 million-dollar homes were sold in the Houston region at an average price of $379 per square foot. For comparison, the average price per square foot for all residential homes in the metro was $176.
Both figures are lower than the statewide average, according to Texas Realtors.
"The average price per square foot of $1 million+ homes increased to $423 from $418 last year and was more than double the $188 average price per square foot of all Texas homes," the report said.
Houston also had the second-highest median closing price for its million-dollar homes statewide, at about $1.39 million.
Furthermore, Houston's luxury homes are significantly larger the typical residential home in the metro. A million-dollar home in the metro spanned 4,397 square feet, compared to 2,115 median square feet for all residential homes.
"High-end homes continue to be a small but mighty segment of the market," said Texas Realtors chairman Jennifer Wauhob in a press release. "Texans remain confident in the value of these properties, whether they are drawn to outstanding amenities, prime locations, or both."
Elsewhere in Texas, Dallas-Fort Worth Arlington saw the No. 1 highest share of million-dollar home sales in Texas, at 38 percent, followed by Austin-Round Rock-San Marcos (19 percent), the rest of Texas (11 percent), and San Antonio-New Braunfels (5 percent).
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