The market for luxury home parks in Texas has a lot of buzz this year.
That buzz includes a new report from TMZ that shows that home parks are becoming a more popular and valuable destination for luxury homes in Texas.
TMZ’s annual list of the most popular luxury homes found that nearly all of the luxury home park properties on its list had been purchased or renovated in 2016, with the exception of two Texas locations.TMZ’s analysis found that home park purchases were up by nearly 20 percent in 2016 and more than 12 percent year-over-year.
That means home parks that were purchased in 2016 were worth nearly $1.5 billion more than the homes on TMZ�s list.
The report indicates that home buyers have been more willing to invest in luxury home ownership in Texas because of a growing number of luxury home amenities, which include spa, spa services, spa pools, and a range of other amenities.
Home Park Owners Report 2017 by TMZ found that luxury home purchases were down from 2016 by roughly 10 percent and the median price of luxury homes was $2.2 million.TMz estimates that in-state buyers have bought more than 80 percent of luxury properties in Texas, with most of the purchases occurring in Texas�s most expensive and most exclusive neighborhoods.
Texas also ranks highly in the list of luxury markets.
The Texas City area, which includes Austin and Dallas, was the second most popular market in the state for luxury purchases with more than 50 percent of purchases, and the Austin-Bergstrom area was the third most popular.
The most popular homes on the list in Texas were the five luxury homes TMZ listed in Houston, which had a median price in the $2 million to $3 million range, and two in Austin, which have a median of $1 million to less than $1,000,000.TMX’s data also showed that luxury homes were more popular in the Dallas-Fort Worth area, with more buyers in the top five luxury markets of Dallas, Austin, and Houston buying homes in the luxury category.TM Z did not include the two Texas City properties on the TMZ list.TM’s report comes on the heels of an investigation into the home ownership market in Texas and other states.TMZA, which is a subsidiary of TMZ, is a market research and advisory firm that specializes in evaluating the luxury properties and homes in luxury markets to determine how they will perform in the market and whether or not they will generate revenue.
TMZA reports are typically released by the media every year.