If you're wondering what lots are selling for in the Preston Hollow area, here is the latest estimate of the price of raw land (according to Dallas' top appraisers). These are for standard lots (under an acre) on typical residential streets. Lots that have a larger or small road frontage will vary in price, as will irregular lots. Busy streets sell for less.
"Golden Corridor" between the Tollway & Hillcrest:
South of Walnut Hill $40-$45 sq ft (but there was a recent record high sale of $60 sq ft)
Walnut Hill to Royal Lane $45-52 a sq ft
North of Royal Lane $27 - $30 sq ft
(You'd be surprised at how few multi-acre properties there are south of LBJ. Probably less than 150.)"Estate" properties (an acre or more):
South of Walnut Hill $1.8 to $2.7 million an acre
North of Walnut Hill $1.4 - $1.8 million an acre
Strait Lane area $2.6 million an acre
New Hillwood development $2 million an acre
Russwood Area $1.6 - $1.8 million an acre
Some of the best bargains in land right now are just west of Midway Road - where you can still get land under $30 a sq ft.Other areas in our proximity:
Bluffview $35 - $40 sq ft
Devonshire $35 - $40 sq ft
Lively/Woodfin area $30 - $35 sq ft
Hockaday area $35 - $40 sq ft
Keep in mind these are current appraisal estimates. Every piece of land has it's own unique characteristics (number of trees, privacy issues, etc) that helps determine its value.[where: 75230]
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