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Dallas

Under-construction Dallas home listed at $16M

Texas’ priciest new listing in July is a home developed by Moayedi’s Crescent Estates

A photo illustration of Mehrdad Moayedi along with a rendering of 5531 Walnut Hill Lane (Getty, SHM Architects, Centurion American Development Group)

A photo illustration of Mehrdad Moayedi along with a rendering of 5531 Walnut Hill Lane (Getty, SHM Architects, Centurion American Development Group)

The July numbers are in, and Dallas was home to the priciest new listing in Texas for the fourth straight month. 

A 10,500-square-foot mansion under construction at 5531 Walnut Hill Lane was the most expensive Texas home to hit the market in July, carrying a price tag of just under $16 million, the Dallas Morning News reported, citing the Houston Association of Realtors. 

The seller is Mehrdad Moayedi’s Crescent Estates Custom Homes.

Jonathan Rosen of Compass is the listing agent for the home, which sits next to the historic Crespi Estate, a North Texas landmark that hit the market at $60 million in May. The Crespi Estate also came in as the state’s priciest new listing for that month, and a $20 million home in Dallas’ University Park neighborhood took the top spot in June. 

Construction of the Walnut Hill estate began in August 2022, and it will take another eight months to complete, Rosen told the outlet. Designed by SHM Architects, the house is set to include an infinity pool and spa, a guest house, sports court and a lake with a waterfall and fountain. 

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Three other Dallas-area homes cracked the top 10 highest-priced new listings in July. An 8,700-square-foot mansion in Highland Park took the No. 4 spot with a $13.5 million price tag. Another Walnut Hill estate listed just shy of $12.5 million ranked seventh on the list, and a $10.75 million home in Highland Park ranked ninth.

Two Houston mansions rounded out the top three spots. A Westside-neighborhood home at 10105 Longwood Court hit the market at $15.5 million, and a 12,900-square-foot home in Houston’s River Oaks neighborhood was listed at $14.5 million.

—Quinn Donoghue

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5531 Walnut Hill LaneCrescent Estates Custom HomesHighland ParkHouston Association of RealtorsListingMansionMehrdad MoayediSingle-family