A McKinney mansion, initially listed for $5.9 million in July last year and now asking $4.5 million, is scheduled to go to auction after spending over a year on the market. The property, located at 2115 Paradise Ranch Trail in Collin County, sits on a 10-acre lot about 30 miles north of Dallas.
The home features four bedrooms and six bathrooms, with a total living space of 12,500 square feet. It includes a 6,200-square-foot showroom attached to the main residence, reflecting the owners’ interest in classic cars and their involvement in local restoration clubs. An equestrian barn capable of housing four horses is also part of the estate.
Holly and Andi Haven of Real Broker are managing the listing. Elite Auctions, based in Florida, will conduct the auction on site at 11 a.m. on November 7. This marks Elite Auctions’ first event in McKinney; previously, they have handled auctions for other North Texas homes.
Randy Haddaway, CEO of Elite Auctions, said that more sellers are turning to auctions after traditional sales efforts have not succeeded. “There’s a lot of inventory that needs to be cleaned up around the country,” Haddaway said. He noted that his company has seen three times as many auction candidates this year compared to previous years.
The increase in luxury properties going to auction comes as national trends show sellers retreating from the high-end market. Data from Redfin indicates that Texas is among the states experiencing a slowdown in luxury real estate activity. Austin has reported particularly high inventory levels for luxury condos following its tech-driven growth period. Across Texas—especially in Houston and Dallas—relistings now make up a larger portion of ultra-luxury home listings.
A recent example from the region was an auction for a Southlake mansion at 1469 Sunshine Lane: once listed at $27.5 million, it sold for $14.22 million after bidding started below expectations.
