Mar 13, 2008

The Cost of Dirt in Preston Hollow

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

"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

(You'd be surprised at how few multi-acre properties there are south of LBJ. Probably less than 150.)

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

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.
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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