Feb 16, 2022 - Real Estate

Luxury home sales up 67 percent in North Texas

Illustration of a gold-plated house-for-sale sign.
Illustration: Brendan Lynch/Axios

Sales are spiking for $10-million-plus homes in North Texas, per a new report by real estate brokerage firm Compass.

By the numbers: At least 10 such homes in Dallas-Fort Worth sold last year, totaling $115 million in sales. The sales were up more than 67% compared to 2020.

  • Dallas fell behind Austin, where 11 luxury homes sold for a collective $189 million in sales.
  • Los Angeles recorded the most ultra-luxury sales nationally, with 628 over $10 million.

Yes, but: There are a lot more ultra-luxury homes that trade hands each year; the Compass stats are for MLS listings and don't include off market ones.

  • As many as 75% of ultra-luxury properties are sold off-market due to concerns about "privacy on many different levels," Compass real estate agent Dara Allen tells Axios Austin.

What they're saying: "We expect to see high appreciation in this area, with no decline in sight," said Compass agent Jonathan Rosen, who listed the company's highest sale of the year at $11.9 million.

Meanwhile, the median home sales price in North Texas has climbed to $350,000.

Of note: Apparently some Dallasites are buying houses over $10 million in Aspen, which had a banner year and expects to see more buyers than sellers this year, the report said.

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