#United States #Austin #Real Estate #Texas REALTORS #Million-Dollar Homes

Texas Sees Record Sales of Million-Dollar Homes

Texas has witnessed a remarkable increase in the sales of million-dollar homes, with a record number of transactions occurring from November 2024 to October 2025. According to the latest report released by Texas Realtors, a total of 14,418 homes were sold for $1 million or more, marking a 12% increase from the previous year.

The total value of these sales reached an astounding $24.5 billion, a new benchmark for the state. This surge in high-end property transactions reflects the growing demand and accessibility of luxury homes across Texas.

As inventory expanded, 32,793 new listings were made available in the million-dollar category, up from 28,325 the year before. This increase in available properties suggests a healthy balance between supply and demand among high-end real estate buyers.

Market Dynamics

Interestingly, while only 4.3% of all homes sold in Texas were priced at $1 million or more, these properties accounted for 17.2% of the state's total residential sales dollar volume. This statistic indicates that the segment of luxury homes is not only growing in numbers but also commanding a larger share of the market value.

Jennifer Wauhob, Chairman of Texas Realtors, commented on this phenomenon, stating, "High-end homes continue to be a small but mighty segment of the market. Texans remain confident in the value of these properties, drawn to outstanding amenities, prime locations, and luxurious offerings that these homes present."

Metro Area Insights

The last year has shown robust sales growth across all four of Texas's largest metropolitan areas, with increases of at least 10%. Leading the chart was the Houston metropolitan statistical area (MSA), which experienced an impressive 18% increase in million-dollar homes sold. Approximately 90% of the million-dollar homes sold were located in these key metro areas.

The Dallas-Fort Worth-Arlington area held a significant share of this market segment with 5,485 homes, valued at nearly $9.7 billion. Houston-Pasadena-The Woodlands followed, accounting for 27% of sales, while Austin-Round Rock-San Marcos captured 19%. The San Antonio-New Braunfels area tracked at 5%, and the remaining regions of Texas collectively made up the last 11% of million-dollar home sales.

Pricing Trends

Additionally, the average price per square foot for million-dollar homes in Texas saw growth, rising to $423, compared to $418 in the previous year. This figure is more than double the average price per square foot for all Texas homes, which sits at $188.

The report also provided insight into median closing prices and how they correlate to original listing prices. In 2025, million-dollar homes across Texas closed for 93% of their original asking price. In the major metro areas, Austin and Dallas also maintained this figure, while homes in the Houston metro saw a slightly better performance at 94%.

The state’s median closing price for these properties was $1,370,000. Among the largest metros, Dallas-Fort Worth-Arlington led with a median of $1,421,560, while Houston-Pasadena-The Woodlands recorded $1,385,000. Austin-Round Rock-San Marcos, alongside San Antonio-New Braunfels, displayed median closing prices of $1,325,000 and $1,300,709 respectively.

Wauhob emphasized the complexity of the million-dollar market, remarking, "The million-dollar market is nuanced and highly local. Small details can significantly impact financial outcomes. A Texas Realtor provides the expertise and market understanding that clients need to navigate this competitive space confidently."

Conclusion

The surge in Texas's luxury home sales encapsulates a vibrant real estate market driven by both supply and demand among affluent buyers. This trend is likely to continue as the state's economy grows and more individuals seek high-end residential properties in prime locations across Texas.