Purchasing a $2.5 million house in North Texas doesn’t make you king of the mountain among North Texas homebuyers, but it does put you in rarified air.
Purchasing a $2.5 million house in North Texas doesn’t make you king of the mountain among North Texas homebuyers, but it does put you in rarified air.
The inventory of homes on the market above that price drops sharply as the number of buyers who can afford them dwindles, real estate agents say.
Take a photo tour of North Texas homes on the market priced around $2.5 million.
This is the fifth in a series of stories the Dallas Business Journal will run on DFW housing options at various price points.
To learn more about homes for different price ranges, see below:
As of late January, there were 203 homes priced between $2 million and $3 million on the market across 29 North Texas counties, with the bulk of those homes being in Dallas, Collin, Tarrant and Denton counties.
Ninety-seven of the homes in the price range were in Dallas County, 37 in Tarrant, 29 in Collin County and 16 of the homes were in Denton County.
Those numbers include both preowned and newly built homes.
Breaking it down further in Dallas County, 53 of the homes priced $2 million to $3 million were in Preston Hollow and 27 were in Highland Park.
The number of homes on the market drops sharply above $3 million, with only 126 listed at that price or higher in the 29 North Texas counties as of late January, Hughes said. Only 70 of those homes in the 29 counties were priced at $5 million or above.
What kind of home can buyers expect at the $2.5 million price?