More than 12,000 homes were sold statewide for $1 million in 12 months, the study found.
The number of luxury home sales in Texas saw a significant increase last year, with Dallas-Fort Worth leading the charge, according to the latest report from Texas Realtors.
From November 2023 to October 2024, sales of homes priced at $1 million or more rose by 10% compared to the previous year. This data comes from the Texas Sales of Million-Dollar Homes Report, which relies on information from the Data Relevance Project, a collaboration between Texas Realtors and local Realtor organizations statewide. The report focuses on single-family homes in the $1 million and up price range over the past 12 months.
During this period, over 12,000 luxury homes were sold across the state, with these properties spending an average of 68 days on the market.
The state’s four largest metropolitan areas — Austin, Dallas, Houston, and San Antonio — accounted for nearly 90% of these sales. The Dallas-Fort Worth-Arlington area, historically the state’s largest market for high-end homes, led the way with 4,992 million-dollar home sales, representing 38.7% of the state’s total. This was a slight increase from 37.3% in the previous report covering 2022-2023. North Texas continues to boast some of the state’s most expensive properties, including iconic listings like the “White House of Dallas” and a modern mansion in Fort Worth that could break local price records.
Houston followed DFW with 26.2% of the state’s million-dollar home sales, while Austin accounted for 19.1%. The San Antonio-New Braunfels area represented 5.1% of sales.
In total, luxury home sales in the Dallas-Fort Worth area reached about $8.5 billion between late 2023 and late 2024, marking a 14% rise in the number of million-dollar properties sold. During this time, 9,340 new luxury home listings came to market, and by October, inventory stood at six months, compared to 5.8 months a year earlier.
Million-dollar home transactions in DFW now make up 19% of the total residential sales volume in the Metroplex. However, the average time these properties spent on the market increased to 57 days in October, up from 44 days the year before.
Across Texas, the average price per square foot for luxury homes rose from $409 to $418 over the past year.
The Texas Real Estate Research Center at Texas A&M University contributed the data analysis for the report.
