Along with scores of first-time home buyers looking to test the waters of home ownership in 2015, luxury home buyers are also expected to play a very active role in this year’s real estate market across the country, and that certainly includes the DFW region.
In general, increased demand and low mortgage rates are helping breathe live into the luxury market, and a somewhat limited inventory is helping boost home prices, which are up roughly 6% from 2013. Additionally, according to the Texas Association of Realtors, sales of homes priced at $1 million and above increased by 15% in 2014, with North Texas seeing the second highest luxury home sales increase in the state at a 26% hike from the year prior.
So whether you’re looking to buy immediately or only considering a move for sometime in the near future, if you happen to be searching the luxury Dallas real estate market, here’s where we recommend starting your search:
Preston Hollow
Believe it or not, Dallas’ Preston Hollow neighborhood has some of the most expensive real estate in the state of Texas. In fact, some homes here even price in the $20 to $30 million range, but if you’re looking for something a bit more practical, the inventory for homes in the $1 to $3 million range is also quite impressive. [View Preston Hollow homes for sale...]
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Lakewood
Offering a close proximity to White Rock Lake and also a pretty short commute to downtown Dallas, Lakewood is a perfect location for home buyers looking to escape the constant hustle-and-bustle of the city, but still be within a close range to enjoy all the fun amenities and attractions around Dallas, not to mention your workplace. [View Lakewood homes for sale...]
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University Park
Home to one of the best school districts in the area, it’s of no surprise why luxury home buyers want to be a part of University Park, especially those with kids. And along with that, the homes here are also rather spectacular, with some even exceeding $7 and $8 million. [View University Park homes for sale...]
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Southlake
The on-going development around Southlake is why this area has become one of the top destinations for all kinds of home buyers, which of course includes the affluent ones. For those who are constantly traveling, for work or for pleasure, Southlake’s close proximity to the Dallas/Fort Worth International Airport also makes it a convenient location as well. [View Southlake homes for sale...]
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Posted by Kenneth G. Cox on
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