Fresh Air: Dallas Luxury High-Rise Market Update

Ask veteran Allie Beth Allman and Associates real estate agent Sue Krider about vertical living in Dallas and be prepared for a steady stream of valuable information including market insights, facts and figures, and a healthy dose of experience. 

As the authority on high-rise living in DFW, Krider knows the luxury market and the most desirable neighborhoods intimately. 

She is a consistent multimillion-dollar producer who specializes in the listing and sales of premium homes, townhomes, and condominiums on Turtle Creek, Uptown, downtown Dallas, Oak Lawn, Park Cities, and North Dallas areas. What’s more, she’s an expert with years of proven successes under her belt, results-oriented, with fresh marketing ideas, and legendary dedication to her clients.

“Even when dealing with tight inventory, volatile interest rates, and the like, in Dallas, there is plenty of allure when it comes to luxury high-rises, especially in the market’s premier zip codes,” she explained.

Krider points to a recent example at the Renaissance on Turtle Creek. “I listed a unit for $400,000 and immediately had multiple offers within the first few hours it was on the market, which is a revealing statistic on high-rise living.” 

Big Gains For High-Rises

Of the 16 buildings Krider tracks regularly, for the first six months of 2022, three averaged 100 percent or more to list price vs. sales price, indicating multiple offers (all are in the Turtle Creek area) including average sale prices at The Centrum ($1.435 million); The Mayfair ($820,083); and The Renaissance on Turtle Creek ($331,934). The average sold vs. list price for all buildings was 98 percent.

Also, the average sales price for all the buildings on her list increased 22 percent for the first six months of the year vs. year-end 2021. Leading the way in increased average sale prices was The Centrum ($1.435 million); Ritz Tower II ($3.2 million); Plaza II ($1.05 million); and Museum Tower ($5.04 million).

“It’s worth noting that both the Ritz and Museum Tower had significant penthouse sales,” she said.

Driving the average sale price is the continued lack of inventory, however, the number of high-rise sales is on track to equal last year, Krider explained. 

Get Plugged In

Among the most common questions buyers are currently asking her (beyond special assessment histories) is whether there are electric charging stations in the garage, or if the spaces can be adapted to accommodate them.

“Quite a few savvy buyers have already sold their homes and are leasing in the area waiting for the right opportunity to make a purchase,” she added. 

But they are picky and will wait for just the right property to come along.

Sue Krider’s website, https://www.dallashighrisecondo.com, is filled with listings, important information, and her continuously updated blog with valuable information about the market. Reach out online at [email protected] or at 214-673-6933.