In December, there were once again more $1 million-plus home sales in Houston proper than any other market in the greater metropolitan area, according to our latest REAL DATA report.
With more than 69 sales and an average closing price of $1.92 million, Houston was the area’s most active luxury market, and it posted significant gains from November (up nearly 20 sales and an approximately $400,000 increase in average price). Following way behind in the No. 2 spot was West University Place, where despite tripling its sales from November, only 15 sales were closed (at an average price of $1.65 million).
Greater Houston’s luxury market has struggled in 2016, with prices and sales slipping. But as our table below illustrates, several markets ended the year on a relative high note:
| City | $1M+ Sales | Avg. Sale Price |
|---|---|---|
| Houston | 69 | $1,925,502 |
| West University Place | 15 | $1,658,537 |
| Bellaire | 10 | $1,447,993 |
| Spring | 5 | $1,220,400 |
| Spring Valley | 4 | $1,457,781 |
| The Woodlands | 4 | $1,719,666 |
| Bunker Hill | 3 | $1,896,666 |
| Sugar Land | 3 | $1,630,000 |
| Wimberley | 3 | $1,226,666 |
| Montgomery | 2 | $1,332,500 |