Dallas-Fort Worth experienced the second-highest increase in luxury real estate sales among Texas cities, according to the 2105 Texas Luxury Home Sales Report released Monday by the Real Estate Center at Texas A&M University.
It’s further evidence that North Texas is a burgeoning market for real estate investors.
Across Texas, luxury real estate sales increased by 15 percent in 2014.
3362 Blackburn Street | Katy Trail | Listed for $1,279,000
The report looked at homes sold for at least $1 million from January 2014 to October 2014. Overall, Texas saw another year of impressive growth in luxury real estate, with sales volume increases ranging from 9 percent to more than 25 percent.
Here’s what the report says about the Dallas-Fort Worth luxury market:
Luxury sales volume was the second highest in the state and increased by double digits, up 15 percent compared to 2014 when overall home sales were flat. Despite a modest increase in listings, the inventory of luxury homes shrank in Dallas-Fort Worth in 2014 by 1.2 months, mirroring a decrease in inventory across the market.
• 926 – Total luxury homes sold, 15 percent more than January – October 2013.
• 1.2 percent – Luxury homes made up 1.2 percent of the total housing market (926 out of 77,023 homes sold).
4609 Porto Vila Court | Montserrat | Listed for $947,500
Click here to see more luxury listings in North Texas.
For more luxury homes, see briggsfreeman.com. Click here to see the latest in real estate news. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with seven offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.