A home in Fredericksburg has entered the top 10 list of the most expensive new residential listings in Texas, a ranking typically dominated by Dallas properties, according to data from the Houston Association of Realtors.
Retired banker Don Hanna and philanthropist Gwen Hanna are selling their 10-acre estate at 371 Achtzehn Road for $7.5 million, which comes out to about $1,200 per square foot. The property includes a 6,200-square-foot house built in 2022 with five bedrooms and six bathrooms. The architecture uses local limestone and reclaimed barn wood. The estate is located near Boot Ranch country club and is approximately six miles north of downtown Fredericksburg.
Fredericksburg is located around 80 miles west of Austin and is known as a tourist destination because of its architecture, scenery, wine industry, and ties to country music. Listing agent Susan Barringer with Kuper Sotheby’s International Realty said the property could be used as a luxury rental.
Dallas continues to dominate luxury real estate sales in Texas. This year’s most expensive listing—a $64 million estate in Preston Hollow—was in Dallas, while Houston had a $60 million listing. Most high-end listings are found within or near the Texas Triangle area defined by Interstates 35, 10, and 45.
Fredericksburg is more often recognized for its ranch market than residential luxury homes. Notable ranches for sale include JL Bar Ranch, Resort & Spa—which hosts thousands of guests annually—and the recreational 3 Creeks Ranch that has an asking price of $42.5 million.
The town’s Main Street shopping district has seen investment from DC Partners, which aims to develop a large mixed-use project by 2027.
