A. BRADLEY NELSON
Chief Marketing Officer Sotheby's International Realty
AVIEWFROM NORTHTEXAS Twenty twenty-one proved to be a perfect storm for the high-end housing market. The starts and stops of the pandemic ? and the same in the reopenings of businesses and diversions ? fueled even stronger demand for larger homes. Inventory struggled to keep pace. Here in North Texas, the luxury market was on fire all year, as it was almost all of 2020, a big change from the traditional spring and fall selling seasons. With prices on the rise, more properties are selling in higher price segments, and sales of luxury condominiums in Dallas doubled from a year ago. What?s more, our specialized ranch-and-land division had an exceptional 2021, too, with sales of both weekend getaways and working ranches strong all year. Record-breaking sales of superluxury properties everywhere are proof that real estate is a very solid investment, as the trends in this report explore. Is there relief ahead from this frenzy?Read on.
RUSS ANDERSON, left, and ROBBIE BRIGGS President, left, and CEO Briggs Freeman Sotheby?s International Realty randerson@briggsfreeman.com rbriggs@briggsfreeman.com
$3billion Total transaction volume in 2021, another exceptional multibillion-dollar year in the 61-year history of Briggs Freeman Sotheby?s International Realty 2
RECENTMARKETMOVERS It was a year for the superluxury listings: From a rarefied ranch in Bosque County to some of the most significant sales ever in the premier Dallas suburb of Highland Park, our expert agents represented exceptional properties all year long. (No small feat, as inventory remains exceedingly tight.) North Texas?extreme popularity with buyers moving from California, New York and other states is keeping our market hot, as is the changing profile of today?s buyer: Millennials, once a generation thought of as less likely to purchase homes, now make up more than half of all applications for home-purchase loans. Texas?many charms and wide-open spaces should keep demand for our luxurious properties high in the years ahead. We invite you to explore them all at sothebysrealty.com.
THERE IS NOWHERE LIKE NORTH TEXAS In 2021, we saw a record number of buyers moving from California, New York, Illinois and many other states. They are attracted to the job opportunities here, the tax benefits, the year-round sunny climate and by North Texas? larger, more luxurious homes ? like this one, sold, in Highland Park, a top suburb of Dallas. Our agents represented exceptional properties in 2021 across Dallas, Fort Worth and all points beyond, including homes, high-rises, ranches and land.