4326 Lorraine

Caroline Summers, the Briggs Freeman Sotheby’s agent who sold 4326 Lorraine, says that well-designed luxury homes in high-profile areas are seeing heightened demand.

Luxury home sales with prices of $1 million and up posted huge growth in 2014 according to the latest Texas Luxury Home Sales Report from the Texas Association of Realtors. In Dallas-Fort Worth, the sales volume of luxury homes was second highest in the state and grew 15 percent year-over-year. Dallas was a runner up to Houston, which had the highest volume of luxury home sales as well as the highest luxury home price growth.

The overall inventory of luxury homes in Dallas-Fort Worth shrank by 1.2 months in 2014, a trend that was seen across the market in North Texas, and luxury home sales represented only 1.2 percent of the market. Compare that to Houston, in which luxury home sales represented 2 percent of the market and were up 13 percent year-over-year.

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