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The Most Expensive Dallas Home Sale for May 2010



One positive note about the Dallas real estate market is it looks like luxury end housing is finally getting the financing it deserves. Overall, there were 65 home sales for over a $1M that closed. A 14% increase over last year.

4237 Armstrong Way in Highland Park was originally listed for $11,499,000. over a year ago, last list price was $7,995,000 and it sold for an undisclosed price, on May 12. Totally renovated 1926 Tudor.

This just shows the available opportunities and how buyers determine the value. Prices have come down way down and that’s why the Park Cities is experiencing greater activity the last two months. Location and schools have a lot to do with that as well as security. Some things never change and never will. Area 25 which is the Park Cities experienced a 61% increase in sales from a year ago, average price is also up 17%.

Hit bottom and cycles back up. There are still lots of great buys and prices to be had, inventory is still high at 12 months, down 32% from last year but still a good selection to preview. Just as there is a lull right now in the market other areas that have been soft are showing a rebound. Thank goodness!

About Terry Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite. Have questions? Ask me. You can find me on Google+ and Pinterest.

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