Fun-filled mansion sells in Southlake
Luxury property filled with amenities is off the market after major price drops
How do you sell the most-expensive house in Southlake? Cut the price and go viral, at least that’s how Tracy Tutor and Breah Brown of Douglass Elliman did it.
They sold a fun-filled Mediterranean-style mansion at 1469 Sunshine Lane for an undisclosed price that they say is “record-breaking.”
The house, which has indoor trampolines, a bowling alley and a hidden waterslide, hit the market with Keller Williams in 2021 for nearly $25 million. Eventually the seller switched brokerages, and Tutor and Brown took the listing. They dropped the price to $19.9 million, then to $17.9 million, before the listing went viral. They closed the deal on June 1, The Real Deal has learned.
TRD first reported on the listing in December, and it went viral after Zillow Gone Wild posted about it in January.
“It kind of took on a life of its own in terms of the press attention that the property received,” Tutor said. “There were so many elements that were a one-off — the pool is crazy, the basketball court, the bowling alley. You pick up that house in Los Angeles, and you’re looking at a $150 million property.”
Described as an “entertainer’s paradise,” the 31,000-square-foot home built in 2016 sits on 3.6 acres and has eight bedrooms. The estate’s slew of amenities puts Dave & Busters to shame.
It also has a home theater, batting cage, yoga room, golf simulator, wine room, elevator and two saltwater pools.
With the typically slow summer buying months arriving, and the seller having already moved out of the property, they were motivated to reduce the price further until the right buyer came along, said Tutor, who is a star of Million Dollar Listings.
The Sunshine Lane sale could spur more ultra luxury home development in Southlake, she said.
“This property is far and away the biggest sale that Southlake has seen in terms of the caliber of the estate and the price it ended up selling for,” Tutor said. “So I think it’s going to do wonders for other developments and people wanting to do some of these larger 20,000 to 30,000 square foot homes.”
Tutor and Brown led Douglass Ellimans Texas expansion last year with offices in Dallas and Austin. While the luxury markets have come back down to Earth in the last year, especially in Austin, the markets should begin to level out next year, Tutor said.
“Interest rates will soften a bit by next summer, but prices haven’t really come down that much. We have had to pivot to be a little more realistic with conversations we’re having with our clients about pricing, and the comps from a year ago are not what the comps are today,” Tutor said. “Conversations I’m having are ‘we need to have less negotiating room, and we need to be really analyzing where we think the property is going to land and list, within five percent of it.’”