Houston’s strong luxury housing market is showing now signs of slowing down

Sales prices for Houston’s luxury housing market are leading the charge this year, according to a new Redfin analysis of the nation’s luxury markets.

Redfin’s study analyzed the top 5 percent of listings, and according to its research, the average sale price for Houston’s luxury market in 2015’s first quarter was $1.364 million, a 7.5 percent increase from 2014’s first quarter. By comparison, the remaining 95 percent of listings in Houston saw their average sales price jump 5.6 percent to $227,000.

Despite that increase in price, additional numbers from Redfin’s analysis offer a more nuanced portrait of Houston’s luxury market. For the top 5 percent of Houston listings, the average days on market in 2015’s first quarter was 64, quite a few days more than the 45 days for the remaining 95 percent of listings.

Luxury Real Estate in Houston

One other interesting characteristic of Houston luxury housing market is how much more expensive those upper-tier listings are than the remainder of the market.

According to Redfin, listings in the top 5 percent are 6 times pricier, which is among the largest disparities in the country – though admittedly, it’s far beyond the 11.6 of Miami Beach.

This graph shows the luxury sales price ratio for the nation’s largest metro areas: