Luxury Homes about 10 Percent of Texas Market in Q2 2020
Homes that sold for over $500,000 accounted for about 10 percent of overall Texas home sales in the second quarter of 2020, according to the Texas Quarterly Housing Report by Texas Realtors® and the Real Estate Center at Texas A&M University. Homes from $500,000 to $749,999 were 6.7 percent of the total, homes $750,000 to $999,999 were 1.7 percent of the total, and homes over $1 million were 1.4 percent of the total.
In the state capital of Austin, the percentage of luxury homes sold in the second quarter was over double that of the state. Homes from $500,000 to $749,999 were 14 percent of the total, homes $750,000 to $999,999 were 3.7 percent of the total, and homes over $1 million were 3.3 percent of the total. Median home price in Austin is the highest in the state.
Twenty-one percent of homes sold in Austin in the second quarter of 2020 were at least $500,000, compared to 9.8 percent in the entire state.