Luxury home sales have been on the rise for several years in North Texas but new data is suggesting that trend may be coming to an end.
In 2018, area real estate agents sold a record 1,743 million-dollar properties. This year, 1,382 million-dollar homes have sold through the first nine months, which essentially equals no change compared to last year.
Furthermore, inventory for ultra-luxury homes is up roughly 5% right now, further pointing to a bit of a slowdown for this particulate segment of the market.
Over the last few years, sales for million-dollar properties have seen double-digit percentage increases. But earlier this month, more than a dozen DFW-area mansions were listed on the market for an asking price north of $10 million.
While demand for high-end homes seems to be leveling off in DFW, starter homes are both in short supply and highly sought-after by buyers heading into 2020.
INTERESTED IN LUXURY HOMES AROUND DFW? CHECK OUT WHAT IS CURRENTLY ON THE MARKET BELOW:
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Posted by Kenneth G. Cox on
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