So hot right now

Houston nails down No. 8 spot among fastest-moving luxury home markets

Houston's luxury real estate market is white hot.

TK Images for Martha Turner Sotheby's International Realty

For-sale signs on the lawns of luxury homes in Houston-area communities like Bellaire, River Oaks, West University Place, and The Woodlands are disappearing faster than in most U.S. markets.

November’s Realtor.com Luxury Housing Report shows luxury homes in the Houston metro area spent a median 61 days on the market in November, up 3.4 percent from last November. That puts the Houston metro in eighth place among the country’s fastest-moving luxury home markets.

Asking prices for Houston-area listings among top-tier luxury homes started at $794,576 in November, according to the Realtor.com report.

The Houston Association of Realtors (HAR) says stepped-up activity in the luxury home market helped boost the average single-family home price in the area to $422,552 in November. The luxury market — homes priced at $1 million and above — was the region’s top-performing home category in November, according to HAR, with sales up 23.4 percent compared with the same time in 2024.

The Realtor.com report ranks San Jose, California, as the fastest-moving metro for luxury home sales in November. There, luxury homes spent a median 56 days on the market, down 6.7 percent from last November.

“Luxury home dynamics are increasingly driven by local factors rather than national trends,” Antony Smith, senior economist at Realtor.com, says in a release. “Some high-cost metros are experiencing brisk demand and fast turnover, while others face slower sales even at elevated price points. Understanding these local dynamics is key for both buyers and sellers in today's luxury market.”

Roughly 200 miles west of Houston, the San Antonio metro lands on Realtor.com’s list of the country’s slowest-moving markets for luxury homes. San Antonio-area luxury homes lingered on the market for 99 days in November, up seven percent from the same time last year. That gave San Antonio eighth place on the list of the country’s slowest-moving luxury home markets.

Asking prices for San Antonio-area listings among top-tier luxury homes started at $766,548 in November, according to the report.

In November, 5.6 percent of home prices fell into the $750,000-and-above category, according to the San Antonio Board of Realtors (SABOR).

Bend, Oregon, tops Realtor.com’s list of the slow-moving markets for luxury homes. In the Bend metro area, luxury homes were stuck on the market for a median 146 days in November, up 14.1 percent from the same period in 2024.

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How Sweet

Sugar Land's first new apartment complex in 13 years breaks ground

Pearl Lake Pointe luxury apartment complex Sugar Land.

Rendering Courtesy of Morgan

Pearl Lake Pointe is a 376-unit luxury apartment complex slated for early summer 2027 in Sugar Land.

Sugar Land is welcoming its first new apartment development in more than a decade. Pearl Lake Pointe, a 376-unit luxury community from developers Morgan and Carlyle, is underway at 16435 Creekbend Drive.

Construction began in November, with an official groundbreaking held this week. “The groundbreaking of Pearl Lake Pointe marks an exciting new chapter for the Lake Pointe peninsula,” Sugar Land Mayor Carol K. McCutcheon said in a statement. “After years of planning and collaboration with Morgan, this project delivers much-needed, high-quality multifamily housing and strengthens our long-term vision for a vibrant, connected district. This milestone will help drive continued reinvestment and momentum throughout Lake Pointe and across Sugar Land.”

Set across 6.46 acres, the five-story complex will feature five live-work units, a six-story parking garage, and 9,940 square feet of commercial office space. Fitness centers, a resort-inspired pool, a golf simulator, a sky lounge, and a cafe are among the planned amenities.

Inside the residences, features include open-concept floor plans, quartz countertops, stainless-steel appliances, washers and dryers, and balconies in select units.

“Pearl Lake Pointe is a unique opportunity to elevate the living experience and set a new benchmark for luxury in Sugar Land,” Kase Pappert, Morgan senior development manager, said. “We are grateful for the City’s partnership and look forward to helping re-energize the Lake Pointe peninsula with a welcoming community that feels like home and connects residents to the amenities right outside their door.”

Roughly 20 miles from downtown Houston, the site has views of Brooks Lake and is adjacent to the former Fluor corporate campus currently being transformed into the Lake Pointe Green mixed-use development.

The first Pearl Lake Pointe units are slated for delivery in early summer 2027. Morgan and Carlyle will own and manage the community, with project financing provided by Texas Capital Bank.

“With Pearl Lake Pointe, Carlyle and Morgan are redefining multifamily living and adding meaningful momentum to address the demand for high-quality housing in the Sugar Land submarket,” said Adam Buchwald, Carlyle managing director and partner. “Partnering with Morgan — an accomplished developer with a strong track record — makes this project even more exciting, and Pearl Lake Pointe is a standout addition to Carlyle’s portfolio of high-quality multifamily developments.”

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