North Texas home values are at record levels right now so it’s hardly surprising that nearly 1,400 million-dollar homes have sold in DFW so far this year.
But even despite that kind of sales volume, the luxury residential market in Dallas is far behind many other major cities and only ranks 21st among U.S. markets with the most million-dollar homes.
According to data from Lendingtree, just over 2 percent of Dallas homes are valued over $1 million, while the median single-family home price sits at just $270,000.
For comparison, more than 56% of home sales in San Jose exceed the million-dollar threshold and 42% of homes in San Francisco trade above that level too.
But towards the end of this past summer, only about 1,500 homes actively listed in North Texas, which includes more than two dozen counties, were at or above $1 million.