Texas

Luxury Real Estate in Texas

Texas has absorbed more high-net-worth relocation over the past decade than any other state, and its luxury markets have changed shape accordingly. Highland Park and Preston Hollow in Dallas, River Oaks and Memorial in Houston, and the hill country west of Austin now compete for buyers who a decade ago would have looked only at the coasts.

How the Market Breaks Down

Dallas's established addresses trade on lot size, school attendance and proximity to the Park Cities. Houston's energy corridor and River Oaks move on a different cycle again, tied more closely to industry. Austin's market is the newest and the most volatile, with land west of the city carrying a premium that did not exist a decade ago.

What Sellers Should Know

Property tax rates in Texas are high and vary sharply by jurisdiction, and informed buyers price that in. Knowing your effective rate and having the assessment history ready shortens negotiation considerably.

What Buyers Should Know

Relocating for tax residency requires more than buying a house, and the sequence matters. Speak to your advisors about the residency calendar before you commit to a closing date.

The Texas Market in Context

Across every price band, the statewide median sale price was $335,600 as of March 2025, according to Redfin. Homes took a median of 53 days to sell in 2024 at 4.2 months of supply — closer to balanced than most of the past decade — and closed sales rose 0.58% against 2023, per Clever Real Estate's state analysis. Those are whole-market numbers spanning starter homes to estates; the luxury tier trades on its own timeline and against its own comparables.

Market data: Redfin state median sale prices, March 2025; Clever Real Estate 2025 state study (2024 days on market, months of supply, and 2023–24 change in sales). These figures describe the broader Texas market and are not Platinum Group transaction data.