2019 Texas Luxury Home Sales Report Released Today by Texas Realtors

TEXAS LUXURY HOME SALES REPORT 2019 Edition TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

ABOUT THE TEXAS LUXURY HOME SALES REPORT The 2019 edition of the Texas Luxury Home Sales Report is provided by the Data Relevance Project, a partnership among Texas REALTORS® and local REALTOR® associations throughout the state. Data analysis is provided by the Real Estate Center at Texas A&M University. The report analyzes single-family home sales priced $1 million and higher from November 2018 through October 2019 for the Austin, Dallas-Fort Worth, Houston and San Antonio metropolitan statistical areas. Texas REALTORS® distributes insights about the Texas housing market each month, including quarterly market statistics, trends among homebuyers and sellers, condominium sales, international trends, and more. To view these reports, visit www.texasrealestate.com. ABOUT TEXAS REALTORS® With more than 130,000 members, Texas REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We are the advocate for REALTORS® and private property rights in Texas. Visit texasrealestate.com to learn more.

MEDIA CONTACT Hunter Dodson Pierpont Communications [email protected] 512.448.4950 TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

EXECUTIVE SUMMARY Texas homes that sold for $1 million or higher from November 2018 to October 2019 increased 4.4% to 5,149 sales, according to the 2019 Texas Luxury Home Sales Report released today by Texas Realtors. The annual report examining housing statistics for luxury homes in the Austin, Dallas-Fort Worth, Houston and San Antonio metropolitan areas also showed that total sales of million-dollar and higher homes reached $8.3 billion, a 5.1% increase from the previous year.

From October 2018 to November 2019, luxury homes in Texas accounted for 8.2% of all sales dollar volume.

The median price for Texas luxury homes in the first 10 months of 2019 was $1,375,000, 2.0% higher than the previous year. The average price per square foot for luxury homes was $364, a 7.4% increase from the first 10 months of 2018 and more than triple the $120 average price per square foot for all residential Texas homes.

From January to October 2019, luxury homes in Texas spent an average of 87 days on the market, a decrease of eight days from the same time frame in 2018. On average, luxury homes spend more time on the market than lower-priced homes. TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

STATEWIDE HOME SALES $1M+ NOVEMBER 2018-OCTOBER 2019

5,149 Luxury home sales 2005 Median year built in Texas January-October 2019

$8.3B Sales dollar volume 87 Average days on market of luxury home sales January-October 2019 ($8,392,126,841)

4.4% Year-over-year 12,546 New listings increase in luxury sales November 2018-October 2019 volume

8.2% Percentage of all residential sales dollar volume in Texas ($102,407,137,282) 11.7 Months of inventory as of October 2019 TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

STATEWIDE HOME SALES $1M+ 12-MONTH COMPARISON: SALES VOLUME

637 590 520 510 467 423 423 368 374 363 268 206

Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19

AVERAGE PRICE PER SQUARE FOOT STATEWIDE JANUARY – OCTOBER 2019

All Residential $132

$364 Luxury Homes

$0 $50 $100 $150 $200 $250 $300 $350 $400 TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

AUSTIN-ROUND ROCK MSA AUSTIN-ROUND ROCK MSA HOME SALES $1M+ NOVEMBER 2018-OCTOBER 2019

1,085 Luxury home sales 2002 Median year built in the Austin-Round Rock January-October 2019 MSA

$1.7B Sales dollar volume of 74 Average days on market luxury home sales January-October 2019 ($1,744,204,734)

14.9%Year-over-year increase 1,913 New listings in luxury sales volume November 2018-October 2019

12.4% Percentage of all residential sales dollar volume in 6.6 Months of inventory the Austin-Round Rock MSA as of October 2019 ($14,113,399,852) TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

AUSTIN-ROUND ROCK MSA 12-MONTH COMPARISON: SALES VOLUME AUSTIN-ROUND ROCK MSA

155

126 120 94 98 90 81 81 72 65 51 52

Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19

AVERAGE PRICE PER SQUARE FOOT AUSTIN-ROUND ROCK MSA JANUARY – OCTOBER 2019

All Residential $125

$456 Luxury Homes

$0 $100 $200 $300 $400 $500 TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

DALLAS-FORT WORTH-ARLINGTON MSA DALLAS-FORT WORTH-ARLINGTON MSA HOME SALES $1M+ NOVEMBER 2018-OCTOBER 2019

1,785 Luxury home sales 2005 Median year built in the Dallas-Fort Worth- January-October 2019 Arlington MSA

Sales dollar volume $2.9B 77 Average days on market of luxury home sales January-October 2019 ($2,957,467,631)

0.8% Year-over-year 3,840 New listings increase in luxury sales November 2018-October 2019 volume

8.8% Percentage of all residential sales dollar volume in 9.4 Months of inventory the Dallas-Fort Worth-Arlington as of October 2019 MSA ($33,405,849,503) TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

DALLAS-FORT WORTH-ARLINGTON MSA 12-MONTH COMPARISON: SALES VOLUME DALLAS-FORT WORTH-ARLINGTON MSA

212 202 171 174 162 154 169 127 122 131 96 65

Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19

AVERAGE PRICE PER SQUARE FOOT DALLAS-FORT WORTH-ARLINGTON MSA JANUARY – OCTOBER 2019

All Residential $141

$329 Luxury Homes

$0 $50 $100 $150 $200 $250 $300 $350 TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

HOUSTON-THE WOODLANDS-SUGAR LAND MSA HOUSTON-THE WOODLANDS- SUGAR LAND MSA HOME SALES $1M+ NOVEMBER 2018-OCTOBER 2019

1,715 Luxury home sales in 2005 Median year built the Houston-The January-October 2019 Woodlands-Sugar Land MSA

$2.8B Sales dollar volume of 92 Average days on market luxury home sales January-October 2019 ($2,842,278,440)

3.3%Year-over-year 4,944 New listings increase in luxury sales November 2018-October 2019 volume

10.5% Percentage of all residential sales dollar volume in 12.6 Months of inventory Houston-The Woodlands-Sugar as of October 2019 Land MSA ($27,051,720,843)

©2019 Houston Realtors Information Service, Inc. Certain information contained herein is derived from information which is the licensed property of, and copyrighted by, Houston Realtors Information, Inc. TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

HOUSTON-THE WOODLANDS-SUGAR LAND MSA 12-MONTH COMPARISON: SALES VOLUME HOUSTON-THE WOODLANDS-SUGAR LAND MSA 218 202 182 170 158 161 132 124 123 101 80 64

Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19

AVERAGE PRICE PER SQUARE FOOT HOUSTON-THE WOODLANDS-SUGAR LAND MSA JANUARY – OCTOBER 2019

All Residential $125

$336 Luxury Homes

$0 $50 $100 $150 $200 $250 $300 $350 $400

SAN ANTONIO-NEW BRAUNFELS MSA SAN ANTONIO-NEW BRAUNFELS MSA HOME SALES $1M+ NOVEMBER 2018-OCTOBER 2019

211 Luxury home sales in 2002 Median year built the San Antonio-New January-October 2019 Braunfels MSA

$319M Sales dollar volume of 93 Average days on market luxury home sales ($319,572,805) January-October 2019

10.8% Year-over-year 560 New listings increase in luxury sales volume November 2018-October 2019

3.4% Percentage of all residential sales dollar volume in the San Antonio-New Braunfels 18.8 Months of inventory as of October 2019 MSA ($9,308,480,305) TEXAS LUXURY HOME SALES REPORT | 2019 EDITION

SAN ANTONIO-NEW BRAUNFELS MSA 12-MONTH COMPARISON: SALES VOLUME SAN ANTONIO-NEW BRAUNFELS MSA 26 25 21 18 17 17 17 16 16 14 15

Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19

AVERAGE PRICE PER SQUARE FOOT SAN ANTONIO-NEW BRAUNFELS MSA JANUARY – OCTOBER 2019

All Residential $128

$343 Luxury Homes

$0 $50 $100 $150 $200 $250 $300 $350 $400