3225 Turtle Creek A

An address on Turtle Creek Boulevard has a certain cachet in Dallas, and often come at a hefty price tag, so an affordable listing always catches my eye.

In today’s Tuesday Two Hundred, we’re looking at a high-rise condo at 3225 Turtle Creek Boulevard in the Renaissance on Turtle Creek. Unit 620B is priced at $259,000 with 1,154 square feet. It is a 2-2, located on the sixth floor of the south building, which has 16 floors. It is listed by Sue Krider at Allie Beth Allman & Associates.

The Renaissance is located near the intersection of Cedar Springs Road and Turtle Creek, in close proximity to Downtown Dallas, Uptown, Oak Lawn, and the Park Cities. In addition to urban lifestyle options, the condo is also steps from Lee Park and one block from the Beasley entrance to the Katy Trail. The actual Turtle Creek has green spaces, parks, and walking paths, as well.

(more…)

You know, I was wondering about condo buying demographics last week as I was walking around downtown and the Arts District. I had this little conversation with myself:

“There are lots of great condos in and around downtown. I wonder who’s buying them? They’re outside of a first-time homebuyer’s price range, and not many families buy condos in urban areas … so what demographic are developers targeting?”

Then it hit me — empty nesters are going to look for a luxury property close to culture and amenities. It makes perfect sense. Of course, a lot of homebuyers are going to be Baby Boomers who are downsizing, looking for a home that is close to the things they love.

And then I saw this article in Inman News that affirmed my deduction:

The vast majority of luxury homebuyers used an agent, are willing to give up square footage for an amenity they want and wouldn’t live in a home that isn’t tech-friendly, according to a survey commissioned by Better Homes and Gardens Real Estate.

The online survey of 500 affluent homebuyers, conducted by Wakefield Research between May 20 and June 4, also showed that most luxury homebuyers believe homeownership is a more sound investment than the stock market, would rather live in a “smart” home than a “green” home, and would rather have an upgraded home than more square footage.

I’m thinking homebuyers in the 45-plus age range will definitely fall into this set of homebuyers. Are there any other demographics you think are a natural fit for luxury condominiums?