Found 3 blog entries tagged as million dollar listing.

The average buy-in for a home has become far greater than what it was before the pandemic in a number of communities across the country. PAMELA MOORE / GETTY IMAGES

Austin Business Journal writes, "Nick Wemyss saw firsthand how the Covid-19 pandemic fundamentally reshaped the luxury housing market.

Wemyss, a real estate consultant and Realtor at Berkshire Hathaway affiliate Intero Real Estate Services, watched as the rise of remote work freed people to relocate from his home base in Los Altos, California — where home prices on average top $4.7 million — to surrounding cities and counties. Those relocations drove up home prices in places like Reno, Nevada, and around Lake Tahoe.

It was a pattern that was replicated in markets across the country.

“This isn't just growth. It's a complete redesign of where wealth lives,” Wemyss said. “While traditional luxury markets like Silicon Valley, Manhattan and Los…

270 Views, 0 Comments

There's no shortage of million-dollar homes on the market in Austin. Courtesy of Realty Austin

CultureMap Austin shares, "A new 2024 report from Texas Realtors has revealed the number of homes that sold in the state for $1 million or more increased 10 percent from last year to reach its second-highest peak ever recorded.

According to the report's findings — which calculated sales data from November 2023 to October 2024 — Texas' luxury real estate market accounted for $21.4 billion in economic activity. The period from November 2021 to October 2022 still holds the current statewide record, which is $22.6 billion.

A total 12,888 homes sold for at least $1 million during this time, which represented nearly 16 percent of all Texas residential home sales.

May 2024 was the busiest month for Texas' luxury home sales. Nearly 1,580 homes were…

783 Views, 0 Comments

Million-dollar home sales in Austin have skyrocketed along with the rest of the market, coming neck and neck with luxury sales in Dallas and Houston.

The number of Austin's luxury sales from January-May 2022 was almost double the number of sales for the entire year of 2018, according to a report from the Texas Real Estate Research Center at Texas A&M University.

While Houston, Dallas-Fort Worth and San Antonio saw sales spike in 2021, luxury home sales had remained relatively stable before that.

The Dallas area still leads the charge on luxury real estate sales but the study says Austin is poised to surpass Houston soon. Austin’s population is one about one-sixth of the Houston metro area.

Researchers say year-to-date sales are…

450 Views, 0 Comments