$10M+ Sales, 2022

Total $10M+ Sales Volume, 2022

*Source: HAR MLS, based on all Single Family, Condo, Townhome, and Land properties sold in Houston between 1/1/2022-12/31/2022. Compass did not represent a transaction over $10M on the buy-side in this region.

Ultra-luxury homes in our market are rare, with very little inventory and infrequent turnover. When these do become available, it is a highly competitive buying environment. Those individuals who are liquid and prepared to buy with cash are almost always the winners in capturing these once in a lifetime opportunities.”

The ultra luxury market in 2022 finished strong. Waterfront properties comprise the majority of the ultra-high-end and there is less and less inventory every year regardless of the overall market conditions. Waterfront remains the rarest of the rare.”

Tere Foster

$262.4M

$55M

Highest Listing-represented

Compass Regional Sale, 2022

Represented by Graham-Faupel-Mendenhall & Associates

$25M

Highest Buyer-represented

Compass Regional Sale 2022

Represented by Matt Faupel

Buyers are scrutinizing numbers, and they need reasons to buy in.”

The panic Covid buying during the last three years is over and that ‘pie in the sky’ pricing is no longer feasible. Buyers are scrutinizing numbers, and they need reasons to buy in. It’s more important than ever to have a trusted real estate expert – many highend listings have been pulled off the market or sellers are waiting until the peak selling season to launch, making quality inventory tight.”

Christy Gillespie

In 2020 and 2021, the luxury market saw four times the number of transactions over $10 million properties over prior years*. In 2022, the number of transactions has returned to more traditional levels but demand remains strong. 2022 also recorded two of the top five residential sales in history. Reduced inventories contribute to the reduction along with the current economic and political factors.”

Matt Faupel

As the Fed continues disincentivizing the market, those sensitive to interest rates will hold back while the higher price point market will continue to transact at a consistent pace. The last 24 months saw an explosion in luxury home sales. I expect this to revert back to pre-pandemic pace, but buyers that find that unique home they desire won’t hesitate to pay record-breaking prices.”

Mack Mendenhall