New York and Los Angeles have long been the top luxury real estate markets in the country. But when it comes to growth, Texas is now tops.
According to the latest Luxury Market Report from Coldwell Banker Previews, Austin, Texas, was the country's No. 1 city last year for sales growth of homes priced at $1 million or more.
Coldwell credited the city's boom in technology, entertainment and education for its 32 percent increase. That boost translated into 694 million-dollar homes being sold.