Luxury real estate market in Houston growing by the mansion

  • 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.

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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.