Right now there are seventy-five luxury and executive homes listed for sale in the Beaumont MLS. What criteria defines a luxury or executive home in our market? The simple, straight forward answer is price. For the post today, any home priced at or above $400,000 is considered a luxury and or executive home.
Its fair to say the upper echelon home buyers have been an elusive group the past few months.
Seems everybody, even the big dollar home buyer, has been waiting and watching the economy before making any major financial moves- including buying a luxury home.- Fourteen homes have sold in our luxury market segment in the past six months
- Seventy-five homes are for sale
- The highest number of active, closed and pendings are located in Beaumont W2
- Lumberton has seven luxury homes on the market but no closings in the upper price points lately
Surprisingly...
Even though the luxury segment has seen fewer sales over the past six months, the average number of days homes were on the market prior to contract was 107. Very close to the same days on market for all price categories.
How much are sellers coming off their asking price?
Data is from the Beaumont MLS.
- In Fannett 4% on average
- In Port Arthur 5% on average
- In Port Neches 19% on average
- In Beaumont W2 12% on average
- In Beaumont W4 4% on average
Do you have more questions about luxury and executive homes sales in any Southeast Texas neighborhood? I've got answers!
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