Dear Friends,
The Houston luxury condo market ($1M and up) is shifting — and waiting may come at a price. Here’s what I’m seeing:
- Tight Inventory: Only a handful of new, move-in-ready luxury residences remain in the city. The next comparable developments are 2– 3 years away.
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Rising Costs: Current luxury condos average around $850 per sq. ft. Looking ahead, new projects are expected to rise to $1,100+ per sq. ft., with branded offerings already reaching $1,600+.
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Interest Rates: Rates are beginning to creep downward, which improves affordability. However, falling rates also mean more buyers will re-enter the market — creating greater competition for an already limited supply.
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Lifestyle Benefits: Newer developments deliver lock-and-leave living with concierge, valet, fitness centers, lounges, and resort-style amenities — often at more competitive HOA rates than older buildings.
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📈 The takeaway: Buyers in the $1M+ market can capture luxury amenities and a pricing advantage before the next wave of higher-cost projects and before increased competition tightens the market further.
If you’ve been considering a move into Houston’s luxury condo market — or know someone who is — I’d be glad to provide a tailored overview of the best opportunities available right now.
Warmly,
Scott Brown
Greenwood King Properties
