Luxury homes account for nearly a quarter of sales volume in Austin

Business

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AUSTIN (Austin Business Journal) — Last December was Compass Realtor Beth Drewett’s busiest month of the year, and this month is on pace to match or surpass it. Drewett, a member of the Elite 25 and Austin Luxury League, sells at the higher end of the market, and she said there’s no break in sight for her or her colleagues.

Statewide between November 2020 and October 2021, nearly 90% more homes sold for $1 million or more compared with a year prior, according to a new report from Texas Realtors. Luxury sales dollar volume for that time increased more than 93%, coming in at $19.9 billion. More than a quarter of this activity was in the Austin area. 

Luxury properties accounted for about 13% of home sales volume statewide. In Austin, 23% of all residential sales dollars during the same time came from luxury homes.

Read the full story in the Austin Business Journal.

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