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Million-dollar home sales in Austin have skyrocketed along with the rest of the market, coming neck and neck with luxury sales in Dallas and Houston.
The number of Austin's luxury sales from January-May 2022 was almost double the number of sales for the entire year of 2018, according to a report from the Texas Real Estate Research Center at Texas A&M University.
While Houston, Dallas-Fort Worth and San Antonio saw sales spike in 2021, luxury home sales had remained relatively stable before that.
The Dallas area still leads the charge on luxury real estate sales but the study says Austin is poised to surpass Houston soon. Austin’s population is one about one-sixth of the Houston metro area.
Researchers say year-to-date sales are expected to surpass pre-pandemic sales, though it's too early to tell if sales have enough fuel to outpace the boom of 2021.
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