A buyer walks into Colleyville with $1.8 million and a clear brief: newer construction, larger lot, something ready to move into. Six weeks later, that same buyer is either writing an offer on a 2001-built Texas Traditional that needs a kitchen, or writing a lot deposit check for $2.5 million and waiting a year.
That is the market. Not a spectrum. A gap.
The median sale price in Colleyville sat at $1.0M over the last 3 months, up 11.0% since the same period last year through May 2026, with the median sale price per square foot at $294, up 6.9% since last year. Read past the median and the picture changes. Colleyville's luxury inventory is bifurcated between aging resale near the $1M line and a new-construction floor that starts at $2.5M. The band in between is thinner than most buyers expect, and it is filled almost entirely with homes that need work.
The Transaction Friction Buyers Don't See Coming
The moment this gap surfaces is the second showing. A buyer tours a 4,200-square-foot home listed at $1.65M, likes the lot, and then notices the kitchen is original to 2003. The primary bath has a garden tub and a separate shower behind glass block. The finish-out is honest and well-kept, but it is not what a buyer relocating from a newer Southlake build expects at that number.
That is not a listing problem. That is inventory reality. As one local market summary put it, Colleyville's older homes will never have space for the luxury master baths, island chef's kitchens, or the soaring ceilings we've come to expect, and many of the "Texas Traditional" homes of the '90s and early 2000's that offer high ceilings, large kitchen and baths, and open plans, do require some updates. Fresh flooring, paint, and a kitchen remodel can go a long way. For a buyer at $1.5M to $2.4M, the choice is renovate or reset expectations.
Reading the Segments Instead of the Median
Different data providers show different numbers for Colleyville right now because they are picking up different slices of the same split market. The way to reconcile them is to segment by product type rather than average them together.
| Segment | Typical Price (mid-2026) | Product | What It Looks Like |
|---|---|---|---|
| Established resale | $600K–$1.1M | 1990s to early-2000s Texas Traditional, 2,500–4,000 sq ft | Mature trees, larger lots, dated finishes |
| Renovated resale | $1.1M–$2.4M | Same era stock with recent updates or golf-course lots | Kitchen and bath refreshes, some structural updates |
| New custom construction | $2.5M+ | 2026 delivery, micro-subdivisions | 0.5 to 1+ acre lots, current spec, waitlist |
The $2.5M floor is not a rounding convention. It is set by the actual developers building here.
Where the Floor Comes From
Colleyville is running out of land, and the developments taking shape in 2026 reflect that. Every one of them is small, custom, and priced at the top of the market.
Holt Farms. Colleyville City Council unanimously approved a preliminary and final plat that will allow for the construction of a 10-lot subdivision at a Nov. 5 meeting. Holt Farms is located on 11.8 acres to the southeast of the intersection of Bandit Trail and John McCain Road. The neighborhood will have upscale, custom-built houses developed by Calais Custom Homes starting at $2.5 million. Per Community Impact's April 2026 update, home construction is anticipated to finish in the fall of 2026.
Park Hill. A Graham Hart project at 1508 Four Seasons Drive: a 16-lot development with 0.5-acre custom-built homesites starting at $2.5 million. Twelve lots are remaining on the site as of the November 2025 report.
The Bluffs at Colleyville. A nine-lot enclave with lots north of an acre. Per one investment guide, lots start around $1.5M and homes from $4.5M, with Atwood Custom Homes among the builders. Community Impact's April 2026 update noted that three of the nine lots have been sold, according to Atwood Custom Homes' website.
Three developments, roughly 35 total lots, all above $2.5M. There is no new-construction alternative below that number because the economics of small-lot infill on scarce land will not allow it. As one broker summary observed of the current cycle, in 2026, the focus is on ultra-luxury infill, with custom "micro" subdivisions like Holt Farms and Park Hill bringing new multi-million dollar sites to market.
The Split Signals in the Sales Data
Once you accept the two-tier structure, the market's contradictory-looking indicators start making sense.
Orchard's last-30-day snapshot shows a median sale-to-list-price ratio of 98.68%, up 3.5 pt compared to the same period last year. 25% of homes sold above list price, up 11.5 pt year-over-year. 37.5% of homes listed dropped in price, down 5.7 pt from last year.
Read that carefully. One in four homes is going for over ask. More than one in three has cut price. That is not a market in equilibrium. That is two markets sharing a ZIP code:
The renovated, well-staged, right-priced Colleyville home under $1.5M is getting bid up. The tired 4,500-square-foot home listed at $1.9M is cutting price twice before it moves.
Days on market data tells the same story in a different key. Redfin reports homes in Colleyville sell after 24 days on the market compared to 30 days last year. Homes.com shows on average, houses spend 44 days listed before being sold. Movoto puts July 2026 median DOM at 42. Orchard's last-30-day median DOM is 13. Those are not competing measurements of the same thing. They are the fast-moving segment and the slow-moving segment, reported without segmentation.
What This Means for a Buyer
If your budget is $1.5M to $2.4M and you want new, the honest answer is that Colleyville does not have it right now. Your options are three:
- Buy resale in that band and budget $150K to $400K for kitchen, primary bath, and flooring. Sellers know renovation cost, so expect list prices that already assume it, which is why price cuts cluster here.
- Cross into new construction at $2.5M and accept a build timeline. Holt Farms and Park Hill are both accepting reservations; Calais Custom Homes has been taking lot deposits since infrastructure work began.
- Move your search radius. Southlake luxury runs meaningfully higher on a per-foot basis, but the product mix at $1.5M to $2.4M includes more updated inventory. That is a real tradeoff, not a knock on either market.
If your budget is at or above $2.5M and you want new, you are effectively bidding on a shrinking pool. Twelve of sixteen lots remain at Park Hill. Six of nine at The Bluffs. Ten total at Holt Farms with construction stretching into late 2026. That is the entire inventory of ground-up new custom homes in the city for this cycle.
What This Means for a Seller
The bifurcation cuts both ways. If you own a well-maintained but dated home in the $1.2M to $2.2M band, the market is telling you two things at once. It is willing to pay strong per-foot numbers for updated product, and it is punishing anything that reads as "needs work at this price." Pricing to the segment matters more than pricing to the median. A home that would clear at $1.4M with a $60K refresh may sit at $1.55M in original condition and cut twice before it trades.
The homes going above list are almost always the ones that presented as move-in ready on day one. That is a marketing outcome as much as a market outcome, and it is where seller preparation pays for itself several times over.
FAQ
Is Colleyville still appreciating, or is it flattening? It depends which segment you sample. Redfin's three-month view through May 2026 shows sale prices up 11.0% compared to the same period last year. Movoto's July 2026 listing snapshot shows the median list price a 6% decrease to July 2025 last year. Both can be true if updated inventory is bidding up while dated inventory is cutting price. The blended average obscures both moves.
Why isn't there more new construction under $2.5M? Land. New homes in Colleyville are becoming scarce, though, due to the lack of available land. The remaining developable parcels are being platted as 9- to 16-lot enclaves on half-acre-plus lots, which forces per-lot land basis high enough that the finished home clears $2.5M by construction math alone.
How does this compare to Southlake and Westlake? Southlake carries a higher entry point for comparable new product, and Westlake sits higher still with a much smaller total transaction count. Colleyville's advantage in this cycle is the renovated-resale band under $1.5M, where updated homes on mature lots trade faster and closer to ask than new construction at $2.5M.
Should I wait for the new Holt Farms or Park Hill homes to hit resale? Buyers do ask this. The first resale trades out of these micro-subdivisions typically arrive three to five years after completion, and they arrive at or above the original build price on a per-foot basis because the lots do not exist to replicate. Waiting is a real strategy, but it is a five-year strategy, not a next-spring one.
If you are weighing Colleyville against Southlake or Westlake and want a segmented read on where your budget actually lands, the team at Jeannie Anderson Group can walk you through active inventory, upcoming Holt Farms and Park Hill deliveries, and the renovated-resale opportunities that rarely surface on the portals. Request a private consultation or a luxury home valuation to start the conversation.
