2021 Texas Luxury Home Sales Report

The number of Texas homes that sold for $1 million or higher from November 2020 to October 2021 increased 89.6% compared to the previous reporting period to 11,980 sales, according to the 2021 Texas Luxury Home Sales Report.

The annual report examining housing statistics for homes that sold for $1 million or higher across the state showed total sales dollar volume reached $19.9 billion, a 93.3% increase from the previous year.

While the number of luxury home sales accounted for less than 3% of all homes sold in Texas, the dollar amount represented 13% of all residential sales dollar volume across the state.

The median price for Texas luxury homes during the first 10 months of 2021 was $1,360,133, which is 0.1% more than the previous year. The average price per square foot for luxury homes increased 9.5% to $395, more than double the $166 average price per square foot for all residential Texas homes.

From January to October 2021, luxury homes in Texas spent an average of 55 days on the market, a decrease of 31 days from the same time frame in 2020. On average, luxury homes spend more time on the market than lower-priced homes.

Read the full report here

About the Author
Ed Eakin, Jr
Ed Eakin, Jr. CIPS, ABR, SRS, ALHS, CLHMS, RENE – Builder and Broker/Owner of Eakin Group, began working in Dallas as homebuilder in 1988. After 20 years of homebuilding in some of Dallas / Ft. Worth’s elite subdivisions, his real estate career started in Playa del Carmen in 2007. He is one of 4500 brokers worldwide with a Certified International Property Specialist designation along with earning his Accredited Buyer’s Representative, Accredited Luxury Home Specialist, Seller Representative Specialist, Real Estate Negotiation Expert certification and Certified Luxury Home Marketing Specialist designations.