Lux Market Watch - May 2022

All four categories increased again in the luxury market this month. The Luxury Market shifted from inverted to traditional with more new listings than new closed sales as we go into the traditional real estate buying season.

The highest listed price on the MLS is $43 million for an exquisite 6 bed, 8.3 bath estate with a 10-car garage on 1.84 acres in University Park. The highest closed property was listed at $1.96 million for a French Country 3 bed, 4.1 bath house on .207 acres in Westworth Park of Westworth Village.

Although the luxury market remained strong during May, the main market wobbled. Expect longer days on market as well as offers closer to or below the listing price to arrive soon in the luxury market as a result of inflation, higher interest rates and ongoing global unrest.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, Certified New Home Sales
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com

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