Texas Hits Another Record For Luxury Home Sales

Texas luxury is settling into a new normal after booming during the pandemic.

Sales volume, median price, inventory and days on market all describe a luxury market that’s growing, just not as rapidly as it was a few years ago, according to data released by Texas Realtors on transactions that took place between November 2024 to October 2025. The five-year trajectory of the Texas luxury market points to a return to pre-pandemic levels as volume swells at a more consistent rate.

The number of home sales over $1 million hit the highest level on record in Texas last year. More than 14,400 homes over $1 million sold in 2025, dethroning the period from November 2021 to October 2022, when almost 14,000 homes above $1 million sold.

The state has reached a new high water mark for luxury sales almost every year since 2015. The steadiness of the state’s growth was interrupted in 2021 and 2022, when Texas saw a whopping 90 percent increase in home sales above $1 million. That growth slowed rapidly in 2023 when the luxury market abruptly posted a 16 percent decline in million-dollar home sales from the year before — the only statewide decline in sales in the last decade.

The growth rate of million-dollar home sales in 2025 resembles pre-pandemic conditions. In 2018, million-dollar home sales grew by 11.5 percent. Last year, they grew by 12 percent.

The market showed other signs of slowing, as months supply and days on market increased in 2025. Both metrics have been on the rise since 2021.

From 2024 to 2025, inventory rose slightly from 8.1 to 8.3 months supply. The average luxury home also spent 72 days on the market last year, four days slower than 2024. The third-most expensive residential sale in Dallas this year, a 15,7000-square-foot six-eight at 1 Dorset Place, sold in 72 days.

While the market is slowing, it’s not stalling. Before 2021, when inventory plunged below 4 months supply and the average million-dollar home sold in just 55 days, Texas luxury homes generally took at least 80 days to sell, and months supply reached double-digit levels.

The growth in inventory from 2024 to 2025 is the flattest change between years since the last decade, indicating a settling ratio of buyers to sellers.

The average price per square foot of Texas homes above $1 million rose five dollars to $423 last year. Meanwhile, the average price per square foot of all Texas homes decreased from $190 to $188.