The inventory of Houston homes priced at $1 million and above was recently up by nearly 30 percent year-over-year, as wealthy buyers are taking a cautious approach. Accounting for a portion of this inventory growth will be larger, $3 million-plus mansions, some of them historic, others relatively newly built.
- A number of homes larger than 20,000 square feet are on the market.
- The largest supply of $3 million to $5 million homes exists within the Woodlands, Tanglewood, Rivercrest and Memorial submarkets.
- The average sale price for the most expensive five percent of homes in Houston is $1.4 million.