The ‘Beverly Hills’ of Houston Is Thriving

Houston boasts one of the busiest luxury markets in Texas, where million-dollar home sales in the state rose to the second-highest level on record last year.

Sales of $1 million homes in Houston jumped 10% compared to 2023, with the typical high-end home selling faster there than in any of the other top-three cities—Dallas, Austin and San Antonio—according to a report from Texas Realtors earlier this month.  

And at the center of the metro’s luxury real estate scene is River Oaks, “the Beverly Hills of Houston.”

Characterized by palatial estates, the exclusively residential community is centered amid a socially and culturally rich setting filled with luxury boutiques, museums, fine-dining restaurants and social events.

“The general vibe is of an affluent lifestyle,” said Walter Bering, a broker associate at Martha Turner Sotheby’s International Realty. “It is a well-heeled crowd with down-to-earth-values. Neighbors are friendly. Many people socialize when walking their dogs through the neighborhood.”

Noting that River Oaks offers a “balanced mix of activity and tranquility,” Brett Hartman, sales director for Corcoran Prestige Realty, said that the neighborhood, which places a priority on privacy, is defined by “beautifully maintained streets, mature trees and a sense of grandeur.”

Boundaries

River Oaks, which is in the center of the city, is bounded by Buffalo Bayou on the north, South Shepherd Drive on the east, Westheimer Road on the south and Willowick Road on the west.

Price range

In 2024, the median and average sales price for a luxury home, according to the Houston Association of Realtors, was around $3.2 million, which reflects the fact that there’s limited turnover in this highly coveted market. 

The price range in River Oaks runs from $2 million to over $20 million, with the luxury market starting at $6 million. The lower price point buys an older or tear-down house, and those listed in the $10 millions to $20 millions are for homes with larger acreage, Bering said.

Condos in older buildings start in the $500,000s, he added, while the more prestigious properties have units that are $1.5 million to $5 million.

Hartman said that while there were only 27 recorded sales in 2024, a 7% decrease from the previous year, the average price still climbed 14.6% to $3.2 million.

“The median price per square foot edged up to $593.21, and sellers were getting about 96.6% of their list price, a 4% bump from the previous year,” he said.

Housing stock

In River Oaks, single-family homes dominate and there are only about 1,400 of them. They range from grand historic estates from the 1920s and 1930s to new custom-built homes in contemporary styles. More often than not, they are on oversized lots that are professionally landscaped.

There also are townhomes and full-service luxury condos, many with modern finishes and amenities such as concierge services, doormen, guest rooms, common entertaining areas and resort-style pools.

What makes it unique

River Oaks, Houston’s premier luxury community, offers a fusion of elegance and legacy, Hartman said.

“It stands out due to its blend of historic charm, architectural beauty and prestigious reputation,” he said, adding that “its tree-lined streets and proximity to Houston’s finest dining and cultural institutions contribute to its allure.”

Noting that people “like the prestige of a River Oaks address,” Bering said that the neighborhood features some homes designed by highly acclaimed architects, including John Staub, Birdsall Briscoe, Cameron Fairchild, and Curtis & Windham.

Luxury amenities

River Oaks is known for its upscale shopping and dining destinations.

The River Oaks Shopping Center is a prime retail, dining and entertainment venue, and the Galleria mall is renowned for its roster of stores and restaurants that range from Balenciaga and DeBeers to Jimmy Choo, Saks Fifth Avenue and Nobu.

River Oaks District, a high-end open-air shopping complex, is anchored by Hermes, Dior, Cartier, Harry Winston, and Van Cleef & Arpels.

The members-only River Oaks Country Club, which has a private golf course, pools, tennis courts and social spaces, is one of the city’s most exclusive amenities.

Memorial Park, which is nearby, caters to outdoors enthusiasts. The 5-acre Pumpkin Park has a playground, community center and tennis courts.

Houston’s Museum District, which is a short drive away, includes the Museum of Fine Arts, Houston, and the Contemporary Arts Museum Houston.

Houston’s Theater District, which includes Alley Theatre, the Hobby Center for the Performing Arts, Jones Hall for the Performing Arts, Wortham Theater Center and Bayou Place, is a 15-minute drive from River Oaks.

Residents have several private schools from which to choose, including St. John’s, a co-ed day school for students in kindergarten through high school, and River Oaks Baptist, a Christian co-ed day school that enrolls students in preschool through middle school.

Who lives there

The community attracts a diverse group of local and international buyers, including business executives and professionals as well as families.

Hartman said that many families have lived in River Oaks for generations, “contributing to its strong sense of community and tradition.”

Notable residents

U.S. Sen. Ted Cruz, televangelist Joel Osteen, billionaire Tilman Fertitta, philanthropist Lynn Wyatt, and philanthropist and art collector Carolyn Farb call River Oaks home, according to published reports.

Outlook

Over the past five years, home prices in River Oaks have increased by about 35%, Bering said, adding that “this significant rise reflects the strong demand and desirability of this prestigious neighborhood.”

And the River Oaks housing market continues to look “promising,” he said.

For instance, there’s been a  “significant” increase in the median home price to around $2.1 million in River Oaks, a “somewhat” competitive market where homes typically sell in less than two months; and an increase in pending sales, indicating strong demand for luxury properties.

Noting that luxury homes in the community often sell quickly because of high demand, Hartman said that “River Oaks continues to be one of Houston’s most sought-after neighborhoods, with stable property values and consistent demand. The luxury market here remains competitive, and prices have seen steady appreciation over recent years due to limited inventory and the area’s ongoing desirability.”