Luxury Home Sales in Denton County


Luxury Home Sales in Denton County

It's been a very busy Spring for North Texas markets and we decided to take a look at the upper end of the market at homes that sold for $1 million or more in Denton County.

To really understand markets it is good to not just look at recent sale data but to look at the history of sales to get a good understanding of the "big picture". A 10 year history of sales of homes that sold for $1 Million or more shows last year was the highest number of sales at 65 and second highest number was 2013 at 61 sales. The lowest number of sales occurred in 2009 at 27 sales. The number of sales from 2009 to 2014 increased 140%. The number of sales in 2015 is currently at 11. The largest year to year increase occurred from 2012 to 2103 at 38.6 % It is also interesting that 2010 and 2011 had the exact number of sales at 37.

It is also of note to see how these sale are financed. The majority of the purchases were financed from conventional financing. Of the 364 sales, 228 were financed from conventional financing which is 86% of all sales. The second financing terms were cash sales at 112 sales making up 31% of all sales. Two sales were FHA, three were owner financed and 19 were other/not disclosed.

Looking at the median number of days each sale was on the market, we find that the longest marketing times occurred in 2011 at 184 days and then 2013 at 162 days. It is not uncommon for homes at the luxury market to be on the market longer than homes in the mid-range price range.