The sale of a $4.5 million estate in McKinney was finalized just before it was set to go to auction, ending over a year on the Multiple Listing Service (MLS). The property, located at 2115 Paradise Ranch Trail, is a four-bedroom, six-bathroom home situated on 10 acres and benefits from an agriculture property tax exemption.
Owners Don and Paulette Clark, who are classic car enthusiasts, dedicated half of the property’s 12,500 square feet to a car showroom. This unique feature made pricing the estate challenging, according to listing agent Holly Haven of eXp Realty. “On traditional MLS and marketing, it was like finding a needle in a haystack to find that perfect buyer,” Haven said. “We also listed right before election time last year, so, being in real estate 20-plus years, I know that that can definitely slow down a market.”
While the estate is in a secluded area, there are plans for more homes on nearby lots. Haven noted this as an important consideration for prospective sellers.
Elite Auctions, based in Florida, arranged the auction after the property spent more than a year on the MLS. Market director Alicia Chmielewski of Elite Auctions reported that while the final sale price was not disclosed, the buyer’s cash offer was “close to asking price.” The buyer is described as a local oil and gas executive with private planes; proximity to McKinney National Airport influenced their decision.
The luxury housing market is showing signs of recovery after hitting low points nationwide. In September, median luxury home prices increased by 5 percent compared to the previous year; however, sales volumes remain near record lows since 2012 according to Redfin data. In Dallas specifically, luxury home prices rose by 6 percent—the highest among major Texas metros—while sales dropped by 4 percent.
“Here in North Texas, we’ve been in great shape. Now, things might not be going with multiple offers on the first day, like back in 2021. But at the same time, we’re fortunate to be here; we’re fortunate not to be in Austin,” Chmielewski said. “We still have a lot of businesses relocating here; we have a lot of executives here.”
