Houston Developers Add Luxury Homes as $800K-Plus Sales Outperform Market

Houston-area home sales above $800,000 are outpacing the broader single-family market, prompting developers to shift building plans toward higher-priced inventory, the Houston Chronicle reported. Sales of homes priced between $300,000 and $800,000 were flat or negative over the past year, while transactions above $800,000 rose 9.3%, according to Houston Association of Realtors data cited by the outlet. Sales above $1 million climbed 18% so far this year. Houston-based Johnson Development is adding about 250 homes to Cross Creek West, a 1,258-acre master-planned community in Fulshear. Half will sit on 65- to 80-foot-wide lots, with homes priced from $600,000 to $1 million. More than a dozen master-planned communities across Greater Houston now offer floor plans above $900,000. The average price of a newly constructed home in the Houston area is $409,552.