A Strong Luxury Market in Dallas
Posted September 10th, 2012 | by The Update
The Dallas Luxury Real Estate Market Continues to Show Growth and Strength
Selling prices for top homes in the Park Cities and other luxury markets in Texas showed growth or continued strength, according to recent reports from the Institute for Luxury Home Marketing.
“Buyers are coming in with strong offers of cash or heavy down payments,” said Robbie Briggs, president and CEO of Briggs Freeman Sotheby’s International Realty in Dallas. ”There’s a renewal of confidence in homebuyers, and that comes from the lower interest rates. I haven’t seen that kind of confidence in a long time.”
The Texas luxury market echoes improvements in the overall domestic real estate market in recent months. The Spring Market found that sales of existing homes of more than $1 million improved by nearly 17 percent in some regions over the same period in 2011, according to the National Association of Realtors. And new home sales at the high end of the market remained strong through the season, according to statistics from the U.S. Department of Housing and Urban Development.
“This is good news for homeowners offering premium real estate in Dallas, across the U.S. and all over the world,” Briggs said. “The luxury real estate market appears to be vibrant in many places domestically and internationally.”