It’s always informative to step back and take a quick “snapshot” of a specific niche of the local luxury residential real estate market. In Dallas, a good barometer of how things are fairing is the $2- to $3 million price band in the highly sought-after Highland Park Independent School District. The district is widely known for the quality education it offers, and the towns it serves, Highland Park and University Park, are known for the quality of housing they offer the district’s families.
So … just what will $2- to $3 million buy in the way of luxury housing in the Park Cities? 
A fine example of this price band is my new listing at 3728 Stratford. This classic turn-of-the-century Prairie-style home in Highland Park offers ample charm and is a short distance from highly desirable Armstrong elementary. The four-bedroom residence, on a 70-by-208-foot corner lot, features extensive period detailing, and has been beautifully remodeled and meticulously maintained. It offers all the amenities today’s luxury buyers desire, including a pool and a very tastefully updated kitchen, and a more than 2,000-square-foot guest quarters.
This fine residence is currently competing with 52 other homes for sale in the HPISD priced between $2- and $3 million. The average asking price per square foot of these 51 homes is $417. The average days on market is 156, with the maximum time on market being 418.
Thirteen properties in this price band in the HPISD have sold in the past six months. Those homes sold at an average of $364 per square foot, having spent an average of 153 days on the market. The minimum time on the market for these luxury homes was 18 days, while the maximum time was 422 days.
Posted by:
Dave Perry-Miller
