T
he Dallas-Fort Worth area is leading the way as the ultra-luxury capital of Texas, with 11 homes sold for over $10 million so far this year. This surpasses last year's total of eight sales and outpaces Houston's five sales and Austin's zero. According to a mid-year report from Compass, DFW's luxury market is thriving despite economic volatility.

    The ultra-luxury market nationwide and in Texas remains strong, with affluent buyers undeterred by rising mortgage rates. In the DFW area, all-cash buyers have increased significantly, making up nearly 26% of the market this year compared to 15% historically.

    DFW's diverse economy, driven by major logistics and distribution centers, is a key factor in its robust luxury market. The area has a pool of ultra-high net worth individuals who are drawn to its business-friendly environment and lack of reliance on a single industry.

    One notable ultra-luxury sale was made by Raising Cane's founder Todd Graves, who purchased a $15 million condo in the under-construction Knox Hotel and Residences. Another penthouse in the building is listed at $25 million.

    Ultra-luxury sales in Texas are often driven by exclusive locations within historic neighborhoods like Dallas' Highland Park and Preston Hollow. However, not all high-end buyers prioritize smart features, with some preferring a more understated approach to luxury, as seen in Houston's "quiet luxury" trend.