Luxury home sales make up the strongest sector of the Texas housing market right now. The Texas Association of Realtors has tracked a 12.4% increase in luxury home sales between January and October 2015, well ahead of the region’s broader housing market growth of 4.7%.
According to a recent article by the Dallas Business Journal, homes between $1 million and $1.5 million have performed particularly strong, often selling for double or triple the price per square foot as other homes on the market. In Dallas-Fort Worth alone, 1,088 homes sold in the region of $1 million or higher from January to October.
Texas’ economic prosperity is one of the largest contributing factors to this growth, and with companies like Toyota and Liberty Mutual relocating their headquarters to North Texas, the forecast for a continued rise in luxury home sales in Dallas-Fort Worth looks good.
Read Candace Carlisle’s article in full here.