Lux Market Watch - Jan 2022

We can start a baseline of the luxury market with January. All these homes are $750,000 or above. The highest priced property sold for $9,500,000 in Hillcrest Estates of Dallas.

For context, the "Luxury" market is standardized per brokerage. Most brokerages raised the definition from $650K last year to $750K this month.

The label is tied to the maximum conforming conventional loan amount (about $100K over). The max amount went up from $548,250 in 2021 to $647,200 in 2022. Consequently, the Lux market in 2022 starts at $750K while the 2021 started at $650K.

Additionally, this is based on the entire market. In DFW, most of Frisco, Prosper, Southlake, Colleyville and the Park Cities are anomalies. Meanwhile, a $750K house on less than an acre in Krugerville should be impressive.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

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