01/25/2016 | Author: Editorial Staff
'Texas's economic prosperity continues to make luxury home sales one of the strongest sectors of the Texas housing market, particularly in the $1 million to $1.5 million range,' says Leslie Rouda Smith, chairman of the Texas Association of REALTORS®. Her statement comes as part of the 2016 Texas Luxury Home Sales Report released today by the Texas Association of REALTORS®.
The report cites sales volume increases from 4.5% to 36.4% for homes sold at $1 million or more in the four major Texas markets. The price-per-square-foot for luxury homes is often double or triple that of a typical single-family home, due to higher-end building materials and amenities. Furthermore, some homebuyers are purchasing older homes in prime locations for less than $1 million to demolish and rebuild a new home in its place.
Download the full report to see all the luxury-home statistics for Austin, Dallas-Fort Worth, Houston, and San Antonio.
Categories: Research
Tags: texas luxury home sales report, research
Comments
No comments have been submitted for this entry.
Leave a Comment
Read our commenting policy
The Texas Association of Realtors issued this content on 25 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 January 2016 17:45:23 UTC
Original Document: https://www.texasrealestate.com/advice-for-texas-realtors/article/whats-one-of-the-fastest-growing-housing-segments-in-texas
