Breaking Point

Dallas-Fort Worth home values have never been higher than they are right now

Exterior of 881 Berkinshire Dr. in Dallas

Dallas-Fort Worth home values have skyrocketed.

Photo courtesy of Briggs Freeman Sotheby's

If you thought 2017 would bring lower home prices, think again, because all evidence points to the contrary. A recent Zillow real estate market report shows that national home values rose 6.5 percent since last November, to a median value of $192,500. This is the fastest pace of appreciation since 2006, near the peak of the housing bubble, when home values were appreciating at about 11 percent annually.

In Dallas-Fort Worth, the median home value is $200,400, up 12 percent over the past year, putting metro home values at their peak. Put in plain English, this means that even during the housing boom around 2006, home values were never as high as they are now. Adding insult to injury, there are also 13.9 percent fewer homes to choose from than a year ago.

In addition to DFW, strong growth is also evident in a handful of new markets, including Seattle and Portland, as well as Denver. This is attributed to strong job markets attracting new homebuyers to these cities over the last year.

At their fastest pace, home values across the country were appreciating at about 11 percent year-over-year. When the bubble burst, home values plummeted, falling 7.4 percent year-over-year before beginning a steady recovery in 2012.

“Home value growth continues to be strong, supported by solid buyer demand and still limited for-sale inventory in many markets across the country,” says Zillow’s chief economist Dr. Svenja Gudell. “Conditions today are very different than the ones we saw back in 2006, which was the last time we saw home values rising this fast. Rampant real estate speculation and loose mortgage credit have been replaced by the sound economic fundamentals we are seeing now.”

Portland, Seattle, and Dallas-Fort Worth reported the highest year-over-year home value appreciation among the 35 largest U.S. metros. Portland home values rose 14 percent to a median value of $351,800. Seattle tied with DFW, with home values rising 12 percent since last November.

In Houston, home values rose around 7 percent, with the median price of homes at $176,000.

reports

farm for sale

Unusual ultra-modern Grapevine ranch is on the market for $7.2 million

Photo courtesy of Briggs Freeman Sotheby’s International Realty

The Willow Wood Horse Farm in Grapevine is on the market for $7.2 million.

A stunning 10-acre property in North Texas that looks like it was made for an ultra modern cowboy family has just hit the market for $7.2 million.

Called the Willow Wood Horse Farm, this one-of-a-kind equestrian paradise is located on West Kimball Avenue in Grapevine, about 30 miles northeast from downtown Fort Worth.

The ranch is an extraordinary combination of elegant and thoughtful modern design paired with all of the practicality required of a fully functioning farm.

According to the listing, which is held by Burgher-Ray Ranch Group and managed by David Burgher and Harlan Ray, the farm includes several fenced pastures, an enclosed and insulated shop storage building with concrete flooring, and a seven-stall horse barn.

A covered and irrigated riding arena is attached to the barn, every stall has its own turnout, and six of the stalls are 12 feet by 12 feet wide, and the seventh is designated as a foaling stall. An additional turnout for grazing is located adjacent to the barn, as well as a training pen.

Willow Wood Horse Farm in Grapevine, ranch for sale The horse barn has seven stalls with individual turnouts.Photo courtesy of Briggs Freeman Sotheby’s International Realty

But the focal point of the entire estate is the 4,353-square-foot, three-story primary residence that sits at the highest point of the gently sloped property. The home was custom-designed and completed in 2022, featuring an exterior made of metal cladding, concrete, durable ipe hardwood, and glass.

Upon entering the front door, guests will notice unparalleled views that lead through the home's living areas and into the 3,000-square-foot back deck, past the 80-foot-long saltwater swimming pool, and out toward the pastures.

The chef's kitchen is outfitted with luxurious Gaggenau appliances, such as a steam convection oven, a conventional convection oven, a coffee machine, stove, dishwasher, a separate paneled refrigerator and freezer, and a warming drawer. A half bathroom and full butler's pantry is located to the side of the kitchen, which is equipped with a prep space and a dishwasher.

Additional features of the home include:

Koi ponds located on either side of the main door that welcome guests to the home
An open concept living space that contains the living room, kitchen, and dining rooms
A primary suite with a spacious walk-in closet and en-suite bathroom
Two additional bedrooms with en-suite bathrooms
Soft opening/closing doors in all main bedrooms
Dynaudio speakers installed throughout the home
Geo-thermal heating/cooling system

A custom-built metal spiraling staircase connects all three levels of the home. The second floor contains a viewing area with floor-to-ceiling windows and access to the covered porch and rooftop deck. The lower level leads to an "acoustically balanced" underground home theater featuring eight-foot concert walls, Dynaudio speakers, an Ember Audio sound system, a 250-bottle wine cooler, and a powder bathroom. The listing notes that this area could be converted into a storm cellar.

Willow Wood Horse Farm in Grapevine, ranch for sale The underground home theater has an impressive Ember Audio sound system with Dynaudio speakers.Photo courtesy of Briggs Freeman Sotheby’s International Realty

A detached three-car garage is located next to the home, which contains one EV charging station and two additional outlets for charging. Discreetly designed solar panels are hidden on top of the garage, which are capable of powering the entire residence.

The horse barn, irrigation system, and stock pond all run off of a water well located on the property, while the primary residence uses city water with a filtration system.

"Situated in the heart of the Dallas-Fort Worth Metroplex, just minutes from Lake Grapevine, Southlake, and an easy commute to DFW International Airport, this property affords someone the ability to have all the comforts of the city, while living just slightly removed from it all," the listing says.

Photo courtesy of Briggs Freeman Sotheby’s International Realty

The Willow Wood Horse Farm in Grapevine is on the market for $7.2 million.

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