Most Dallas-Fort Worth residents know that Highland Park, Southlake, University Park, North Dallas and Willow Bend in Plano rank among the most expensive neighborhoods in North Texas.
We’ll show you just how expensive – and how prices in these neighborhoods are trending – in this edition of "Hottest ’Hoods in North Texas."
The overall trend: Home prices continue to rise in most DFW neighborhoods, although they aren’t rising at the rate they were a year ago. North Texas home prices are up only about 3 percent so far in 2019 — markedly short of the double-digit percentage price increases sellers were enjoying a couple of years ago.
Click here for a look at where the most expensive homes are in the Dallas-Fort Worth area based on Zillow Group Inc.’s median home value data for single-family homes by ZIP code. The slides also show year-over-year percentage change in price.
In DFW's 30 most expensive neighborhoods, the percentage change ranged from 8 percent higher to 2 percent lower than they were a year ago.
Sales of very high-end homes have slowed significantly across North Texas, said Robbie Briggs, president and CEO of Briggs Freeman Sotheby's International Realty.
“The $1 million to $2 million is still a fairly active market,” Briggs said in an interview with the Dallas Business Journal. “Over $2 million or $2.5 million, we’re still seeing a number of sales."
"When you get over $5 million, and especially over $10 million, there are very few of those sales, and there’s a fair amount of inventory over $10 million on the market,” he added. “You kind of don’t know what’s going to make those move. The ones that have, for the most part, have started at a really high number and gotten significantly lower.”
Buyers who have that much money to spend are extremely selective and often prefer to start from scratch, Briggs said.
“You can drive around and see some pretty big properties being built that would be way more than $10 million,” he said, “but those people are building their dream house — they’re not buying yours.”