Texas saw record number of million-dollar home sales

SAN ANTONIO – The San Antonio Express-News says that the number of million-dollar homes sold in Texas from November 2023 to October 2024 was the second highest on record, according to a new study. Released by Texas Realtors, the 2024 Texas Sales of Million-Dollar Homes Report found that Texas buyers snagged 12,888 million-dollar homes worth over $21 billion last year, a 10% increase over the previous year. While only 4% of all homes sold in Texas were $1 million or more, those properties represented 15.7% of all residential sales dollar volume statewide, up from 14.3%. “The high end of the Texas real estate market continues to evolve,” Texas Realtors Chairman Christy Gessler said in a news release. “As prices rise, more homes cross the million-dollar threshold. Some are highly valued for their size or amenities, but with many, the key factor is location.”

The report says that nearly 90% of the million-dollar homes sold in Texas last year were in one of the four largest metropolitan areas. The Dallas-Fort Worth-Arlington area had 39% of the luxury homes — 4,992 worth a combined $8.5 billion. The region saw the highest growth in million-dollar home sales at 14%. The Houston-Woodlands-Sugar Land area had 26% of the home sales, rising 10% from the prior year. The Austin-Round Rock area had 19% and saw little change from the previous period. The San Antonio-New Braunfels area had the fourth-highest percentage of the state’s million-dollar homes with 5.1%, an increase of 4% from the previous year. The 656 properties were worth a combined $957 million.