Dallas Leads Texas Ultra-Luxury Home Market

Dallas County once again asserted its dominance over Texas’ high-end housing market this month, with five of the 10 most-expensive home listings across the state, according to the Houston Association of Realtors.

That includes three homes in Preston Hollow, one in Highland Park and a full-floor penthouse in Hall Group’s tower in the Arts District, all priced north of $14 million. The priciest North Texas offering, a $18.5 million Mediterranean-style estate on Turtle Creek Boulevard, ranked third statewide behind listings in Houston’s River Oaks and Henderson County’s Cedar Creek Lake.

The April rankings reinforce what brokers and listing data suggested last fall: Dallas-Fort Worth is the state’s ultra-luxury capital.

DFW logged 11 home sales over $10 million last year, more than double Houston’s five, while Austin had recorded zero, according to the MetroTex Association of Realtors, HAR and Compass.

Brokers credit the surge to DFW’s business diversity, higher concentration of ultra-high-net-worth buyers and stronger track record of modern estate construction. A record number of all-cash purchases — which made up 26 percent of the DFW luxury market last year, up from 15 percent — has also helped insulate the segment from high mortgage rates.

Demand is concentrated in Highland Park, University Park and Preston Hollow, with new builds and legacy homes alike getting action.

Compared to April’s activity in other metros, ultra-high-end listings were spread thin: two in Austin, including one in Davenport West and one in Spanish Oaks, two in Houston and a single $17 million waterfront home in Horseshoe Bay, west of Austin.
Here are the four most-expensive listings in Dallas.

7031 Turtle Creek Boulevard, $18.5 million

This Mediterranean-style estate tucked along one of University Park’s most prestigious stretches hit the market this month asking $1,831 per square foot, the third-most expensive offering in the state. Compass’ Suzanne Warner has the listing.

1747 Leonard Street, $17.5 million

The Gallery Penthouse at Hall Arts Residences in the Dallas Arts District hit the market asking $2,276 per square foot. Kyle Richards of Briggs Freeman Sotheby’s International Realty has the listing.

10331 Strait Lane, $15.9 million

This Preston Hollow home asking $886 per square foot is the sixth most expensive listing statewide. Allie Beth Allman & Associates’ Lucinda Buford has the listing.

10006 Hollow Way Road, $14.9 million

Another Old Preston Hollow mansion hit the market asking $1,302 per square foot. It places 8th of the 10 most expensive listings in Texas, repped by Charles Gregory of Dave Perry-Miller Real Estate.

3609 Gillon Avenue, $14 million

This Highland Park home is listed for $1,645 per square foot. Allie Beth’s Rachel Towbridge has the listing.