DFW luxury home market boomed in 2013

DALLAS-FORT WORTH – Sales of luxury homes were one of the fastest-growing segments of the housing market in DFW in 2013.

Between January and October 2013, 809 luxury homes were sold, making up 1.1 percent of the total housing market. The area experienced a 22 percent increase in sales compared to the same period in 2012 and outperformed the 19 percent year-over-year increase of the market as a whole.

As of October 2013, there were 922 active luxury home listings, 4.1 percent of all active listings on the market. The housing inventory for a luxury home was 11.4 months, 8.4 additional months than that of the Dallas-Fort Worth housing market at large.

The Texas Luxury Home Sales Report is based on data from the Real Estate Center at Texas A&M University and analyzes sales data of homes priced at $1 million and higher from January through October 2013.