In the sought-after Inwood Road/Royal Lane area, build a home in a private park-like setting on 1.785 acres at 5214 Royal Lane. Listed for $1,895,000. Photos / Briggs Freeman Sotheby’s International Realty
If you own a residential lot, 2014 may be the best year in a long time to sell. If you want to build a home, this year is definitely a great time to buy because prices for lots in many neighborhoods are rising fast.
Last year alone, the value of lots in University Park rose 25 percent, Preston Hollow by more than 20 percent. On some of the area’s premier streets, lot prices jumped from $1.8 million per acre in 2012 to more than $2 million last year. “2013 was unbelievable,” says Bryan Hagen with DW Skelton Appraisers. “For 2014, expect a lot of the same.”
Here are several prime lots to consider:
5114 W. Amherst Avenue | Briarwood | Listed for $335,000
On one of the best blocks in Briarwood, Alexander Hunt Distinct Homes offers to build a new house on a 7,405-square-foot lot.
5214 Royal Lane | Inwood Road/Royal Lane | Listed for $1,895,000
In the sought-after Inwood Road/Royal Lane area, build a home in a private park-like setting on 1.785 acres.
4808 Drexel Drive | Highland Park | Listed for $5,900,000
The heart of Highland Park this lot is magical, with a bridge to a large building site surrounded by a creek, ponds and trees. Enjoy access from Drexel and St. Johns.
4623 Wildwood Road | Bluffview | Listed for $2,400,000
In coveted Bluffview, this prime residential building site sits on a heavily treed lot surrounded by gorgeous estates.
For more beautiful homes, see briggsfreeman.com. Click here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with six offices in Dallas, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.