The luxe life

Surprising Fort Worth neighbor ranks No. 13 among small cities with most million-dollar homes

This grand estate at 3206 Wintergreen Terrace, Grapevine, is on the market for $2.2 million.

mediavault.point2.com

With median home prices sitting at $580,000 in Grapevine, it takes a bit of a leap for the average home to be considered a luxury listing. And yet there are many; 13 percent of all real estate listings in Grapevine are homes worth over $1 million, according to a new study.

The report, by online real estate marketplace experts Point2, ranks Grapevine No. 13 nationwide among small U.S. cities with the highest shares of luxury homes. It was the only Texas city to make the top 15.

The report surprisingly lacked any mention of Southlake, which regularly gets nods for being the richest city in Texas.

These new findings confirm that the Metroplex is on the rise as one of the best housing markets for growth, while also opening up possibilities for redefining what the term "luxury" means for real estate in 2023.

"Once used to describe famous estates recognizable by name alone or opulent residences redefining the apartment concept, luxury may now be reduced to a convenient location and cushy amenities," the report says. "Its meaning varies even further when analyzing different-sized markets across the United States, beyond the well-known house-hunting grounds of affluent home seekers."

The small city that made the most gigantic leap into the top spot in the report was East Honolulu, Hawaii, with a massive 70.5 percent of all real estate listings worth over $1 million. Rounding out the top five are Bozeman, Montana (No. 2) with 62.4 percent of listings worth over six figures; North Bethesda, Maryland (No. 3) at 54.7 percent; and California's Cypress (No. 4) and Covina (No. 5) at 36.8 and 36.4 percent.

The remaining smallest cities in the U.S. with the highest shares of luxury real estate listings worth over $1 million are:

No. 6 – Catalina Foothills, Arizona (33.8 percent)
No. 7 – Milford, Connecticut (23.1 percent)
No. 8 –Downers Grove, Illinois (22.6 percent)
No. 9 – Palm Desert, California (19.8 percent)
No. 10 – Country Club, Florida (19.4 percent)
No. 11 – Burien, Washington (18.8 percent)
No. 12 – Murray, Utah (13.5 percent)
No. 13 – Grapevine, Texas (13.0 percent)
No. 14 – Collierville, Tennessee (12.3 percent)
No. 15 – Dunwoody, Georgia (11.1 percent)

The study looked at all available real estate for sale in the 30 largest, mid-size, and smallest cities in the United States, and categorized the listings by their $1-million-plus price tags.

In the category for the largest U.S. cities, Dallas ranked No. 12 with 22 percent of all real estate listings for sale worth over $1 million, while Austin ranked No. 10 nationally at 24.7 percent.

The largest cities also were analyzed for active real estate listings worth over $5 million.

The study admits that luxury homes worth over $5 million are the true indicator of what "real luxury" looks like specifically for the largest American cities. In Dallas, only 1.8 percent of real estate listings fit that criteria, earning the city No. 8. Austin, with 1.5 percent, land just behind Dallas, at No. 9.

The full report and its methodology can be found on point2homes.com.

reports grapevine real estate luxury housing housing market housing texas home-for-sale fort worth Grapevine

Golf News

Tiger Woods has plans for mega-golf community at Kelly Ranch in Aledo

Bluejack National

Tiger Woods' Bluejack National in Montgomery

Fort Worth is teed up to get a new golf-centric community from the sport's biggest name: Golf celebrity Tiger Woods is planning to bring a luxury golf course concept called Bluejack Ranch to Kelly Ranch, the gated community under development in Aledo.

Woods' ambitious plan includes an 18-hole golf course as part of a 914-acre community and entertainment park, featuring a working dude ranch with horses, longhorns, and miniature donkeys.

Kelly Ranch is the master-planned community currently being developed by Ryan Voorhees of Kelly Ranch Estates LLC. They previously forged a deal with Escalante Golf, a Fort Worth-based golf club operator to open a course, but that partnership was severed in January.

Woods divulged the plan for Bluejack Ranch in a letter posted on the facility's website, stating that he and his partners would create a development similar to Bluejack National, which they opened outside Houston in 2016. Located in Montgomery, it was brought to life by developers Andy and Kristin Mitchell of Lantern Asset Management, Woods, and former PGA Tour player and Fort Worth resident J.J. Henry.

In addition to an 18-hole course, plans for Aledo include a 10-hole lighted short course, wellness spa, fitness center, tennis, pickleball, swimming pools, gourmet dining, and a social hub called The Fort.

It would also include a gated community of homes, cabins, and villas ranging in size from 3,200 to 3,500 square feet; plus smaller spa retreats and clubhouse casitas ranging from 1,140 to 2,100 square feet. These will surely be pricey: In 2021, a home at Bluejack National in Houston started at $1 million. In 2020, resort memberships cost $105,000 to join with annual dues of $15,000.

They are also planning an entertainment studio, courtesy of Andy’s Lantern Entertainment company, with room for podcasting, film, and TV productions.

Bluejack Ranch will be its own separate gated community adjacent to Kelly Ranch, says Kelly Ranch director of sales Draze Lawliss. Kelly Ranch will consist of three communities — Rio Vista, Sierra Vista, and La Dorada — which cumulatively will add approximately 2,000 single family residences set across 1,500 acres, with anticipated prices ranging from $500,000 to $2 million+.

"Yesterday’s exciting announcement about Bluejack Ranch, featuring a golf course designed by Tiger Woods, has put Aledo and West Fort Worth on the map for incredible growth opportunities," Lawliss says. "This development is set to ignite substantial economic growth in the area, as Aledo’s future expands beyond just residential communities to include thriving commercial, entertainment, and retail sectors."

"West Fort Worth is primed to benefit as well, with new restaurants, grocery stores, and businesses expected to spring up, adding new life to South Aledo along Highway 377," he says.

Woods has been developing a variety of golf concepts, ranging from miniature golf facilities like PopStroke in The Colony, to a practice course in Jupiter, Florida.

“It’s extremely motivating for me to contribute to the golfing legacy of Fort Worth, and I’m excited to see what we’ll build together,” said Woods in the letter.