More than 12,000 homes were sold statewide for $1 million in 12 months, the study found.
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The number of luxury home sales in Texas rose significantly last year, according to the latest data from the Texas Realtors — and Dallas-Fort Worth led the way.
The study found a 10% increase in the number of Texas homes that sold for $1 million or more from November 2023 to October 2024 when compared to the prior year.
The Texas Sales of Million-Dollar Homes Report uses data provided by the Data Relevance Project, a partnership between Texas Realtors and local Realtor organizations across the state. The report analyzes single-family homes priced at $1 million and higher during the 12-month period.
More than 12,000 homes were sold statewide for $1 million or more during the studied period. These homes spent an average of 68 days on the market.
Almost 90% of these million-dollar homes were sold in the state’s four largest metros: Austin, Dallas, Houston and San Antonio. According to the data, 4,992 homes were sold in the Dallas-Fort Worth-Arlington area, or 38.7% of the state total. DFW has traditionally been the largest market for high-end homes in the state — in the prior Texas Realtors report, covering 2022-23, the Metroplex accounted for 37.3% of the state’s million-dollar home sales. North Texas is home to some of the priciest listings in the state, from the “White House of Dallas” to a modern mansion in Fort Worth that could set a new record in Cowtown.
The Houston area followed behind Dallas with 26.2% of sales in the state with Austin not far behind at 19.1%. Meanwhile, 5.1% were sold in the San Antonio-New Braunfels area.
The Dallas-Fort Worth-Arlington metro area saw around $8.5 billion in luxury home sales from late 2023 to late 2024, with a 14% jump in the number of million-dollar properties that changed hands. There were 9,340 new listings during the study’s timeframe and inventory stood at six months in October, compared with 5.8 months a year earlier.
Plus, million-dollar home sales accounted for 19% of all residential home sale volume in the Metroplex. But the average days on the market in DFW increased to 57 days as of October, up from 44 a year prior.
The average price per square foot among luxury homes statewide increased from $409 to $418, according to the study.
The Texas Real Estate Research Center at Texas A&M University provided data analysis for the study.