Sales Are Up And Show No Signs of Slowing Down
HOUSTON, TEXAS (October 17, 2013) – “The luxury-home market in Houston is hot and shows no signs of cooling off,” said Mark Woodroof, partner, Better Homes and Gardens Real Estate Gary Greene.
Year-to-date sales (through August 2013) of Houston-area homes priced $1 million and more are up 47 percent over sales for the same period last year, according to the Houston Association of Realtors.
“Houston’s luxury homebuyers want a location that is convenient for them and all the amenities to enhance their lifestyle,” said Marilyn Eiland, also a partner with the company. “This includes high-tech features, fabulous design elements for kitchens and baths, and extravagant outdoor entertainment areas.”
Results from a recent Better Homes and Gardens® Real Estate survey reflect that 75 percent of luxury homebuyers believe that homeownership is a more sound investment that the stock market, and 57 percent of employed luxury homeowners believe that homeownership is a bigger indicator of success than their job or title.
Bay Area Luxury
Dan McCarver is a top-producing Realtor with the Better Homes and Gardens Real Estate Gary Greene office in the Bay Area, where he specializes in the luxury-home market.
“The luxury market in the Bay Area is led by full-time residents who are local professionals and entrepreneurs who are ‘moving up’ within the community,” said McCarver.
“They are attracted to golf course homes, waterfront sites, and equestrian properties, all of which are found in the area from Bay Oaks to Clear Lake and Galveston. There are also very attractive equestrian properties in Friendswood,” said McCarver.
The Great Lavish Outdoors
“Luxurious outdoor kitchens and living areas are the number one feature that luxury buyers are asking for,” said McCarver. “Pools continue to be in demand, and the newer ones have stunning water features and are often made luminous with dramatic fire urns.
It is almost a given that buyers will want elevators, a wine cellar or wine room, and a media room. “A second bedroom on the main level is always a plus for guests or a nanny.”
In the Waterford Oaks gated enclave in Kemah, sales are popping. “I recently had two waterfront listings there, and each one sold for more than $1 million,” said McCarver, who added that they were only on the market for a sizzling 30 days.
Sometimes lifestyle changes create a buyer with different needs. McCarver recently worked with a couple who purchased a half floor of the Endeavour on Clear Lake. They did not compromise on luxury — the 19th floor condominium had magnificent panoramic views and building amenities that included a gym, concierge, theatre and spectacular pool.
The Future of Luxury
“The luxury-home market in Bay Area and surrounding communities is very strong,” said McCarver. “I don’t see it slowing down.”
Woodroof said he believes that the luxury-home market all over the Houston area will continue to do extremely well.
“Houston is a dynamic city with a robust economy, and we see only bright things ahead for the luxury-home market and for the real estate market overall.”
For more information about Better Homes and Gardens Real Estate Gary Greene, visit www.GaryGreene.com.
About the Survey
The Better Homes and Gardens Real Estate Luxury Homes Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 500 luxury homebuyers, between May 20 and June 4, 2013, using an email invitation and an online survey.
Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 4.4 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About Better Homes and Gardens Real Estate Gary Greene
Better Homes and Gardens Real Estate Gary Greene is a leading Houston residential real estate brokerage and is owned by Mark Woodroof and Marilyn Eiland. Celebrating its 50th year of operations in the Houston area, the company has listed more homes, sold more listings and closed more transactions than any other brokerage in Houston. The brokerage has grown to encompass 21 offices and more than 850 agents. Real Trends magazine ranked the company among the top 60 residential brokerages in the United States in closed transaction sides in 2012. The company actively supports Sunshine Kids. www.GaryGreene.com.
Attached photo, courtesy Better Homes and Gardens Real Estate Gary Greene:
This home in the gated enclave of Waterford Oaks in Kemah was recently listed by Dan McCarver with Better Homes and Gardens Real Estate Gary Greene’s Bay Area office and sold for more than $1 million after being on the market for only 30 days.
Susan Love Fitts
Susan Love Fitts Communications
Better Homes and Gardens Real Estate Gary Greene