Austin Luxury Homes Sales Increase Year over Year

Sales of Austin-Round Rock MSA homes that closed for $1 million or more increased 15 percent in a year-over-year comparison, based on sales from November 2021 to October 2022. This equaled 3,564 homes at this high-end price range, accounting for 25.7 percent of all Austin residential real estate transactions, according to the Texas REALTORS® 2022 Sales of Million-Dollar Homes in Texas Report. While the Austin area historically has the most expensive median prices in the state, it’s striking to compare the proportions of homes selling for $1 million or more. These sales were over a quarter of total sales in the Austin area, compared to 3.6 percent for the state. The Dallas-Fort Worth-Arlington MSA had the most homes total at this price range, with 4,689 homes sold. The Houston-The Woodlands-Sugar Land MSA was about on par with Austin-Round Rock with 3,527 homes sold. The San Antonio-New Braunfels MSA was much lower at 776 homes sold, while there were 1,442 homes that sold for $1 million or more elsewhere in the state. The vast majority of homes selling for $1 million or more were in the four largest MSAs in Texas. Combined, 89.6 percent of these sales were in these large areas. Austin had the highest price per square foot of this price range of homes at $520. Dallas-Fort Worth-Arlington MSA price per square foot was $368, the Houston-The Woodlands-Sugar Land MSA price per square foot was $388, and the San Antonio-New Braunfels MSA price per square foot was $361. The report was formerly called the Texas Luxury Home Sales Report. Read the full report: