10-08-2013 11:46 PM

Dallas one of the top U.S. markets for million-dollar mansions


The luxury Plano mansion, known as Grand Gables at Kings Gate, received the highest recorded sales price in June for a Kings Gate property in the past four years.




Dallas is one of the top markets in the U.S. for million-dollar mansions based on homes sales and listings.
The city had 434 million-dollar home listings in the past 12 months, as well as 518 million-dollar luxury home sales, according to the 2013 Luxury Market Report by Coldwell Banker Previews International and Luxury Institute LLC, which surveyed affluent Americans on home buying trends.
Based on the report, Dallas was among the top U.S. cities with million-dollar home listings and sales. Other cities surpassing the Big D in million-dollar home listings and sales include New York with 2,350 listings and 4,557 sales, and Los Angeles with 934 home listings and 1,608 home sales.
The Big D ranked No. 11 in million-dollar listings and No. 15 on million-dollar home sales.
"Today's luxury buyer is both dynamic and diverse, and it's reflected in the homes and products they're buying,"said Milton Pedraza, CEO of the Luxury Institute, in a written statement.
Even as the U.S. real estate market is gaining strength, there are some amenity preferences in luxe homes, Pedraza said. We take a look at some of the survey's top amenities for a luxury home:

  • Open floor plan
  • Fully automated and wired
  • Pool
  • Outdoor kitchen
  • Home gym
  • Home theater
  • Green or LEED certified
  • Wine cellar or wine room

Candace covers commercial and residential real estate and sports business.


Continue Reading >>