A surge in high-end home sales has given some Dallas-area neighborhoods a big boost this year. Pre-owned home sales jumped more than 80 percent in the Park Cities and more than 50 percent in North Dallas during the first quarter of this year from the same period in 2009.Other big increases were recorded in Westlake, which is northwest of Dallas/Fort Worth International Airport, and in northeast and northwest Dallas, according to sales data from real estate agents' Multiple Listing Service.
Overall sales in the areas The Dallas Morning News tracks quarterly increased less than 3 percent.
And in many moderately priced neighborhoods on Dallas' east and south sides, home sales this year are down from the same period in 2009, statistics from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems show.
The sizable jump in sales in affluent neighborhoods is a positive sign, analysts and property agents agree.
"We are definitely seeing a much stronger upper-end spring market – certainly heads and shoulders ahead of last spring," said David Griffin, CEO of Dallas' David Griffin & Co. Realtors. "Buyers still want outstanding value for their dollars, but they are giving themselves permission to act, which they didn't do so often last year.
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