“When land for new development starts to run out, home values and demand go up,” Assaad said. “[Grapevine, Colleyville and Southlake] are already highly desirable communities, thanks to their schools, location and lifestyle.”
In 2024, Colleyville had 39 home builds and Southlake had 54 new homes completed. Comparatively, Flower Mound had 177 homes built in 2024.
“[Grapevine] had a handful of applications for infill lots ... or redevelopment of an area,” Grapevine Director of Planning Services Erica Marohnic said. “I think [people want to be here] because it has a small-town feel amid cities. We have our historic Main Street and township.”
What's Happening?
Grapevine, Colleyville and Southlake are more than 90% built out, leaving developers only small parcels of land to build on, Calais Custom Homes co-owner Paul Rostron said. Calais Custom Homes works with clients to build homes, with the company currently selling lots at Linmar Estates in Southlake and Holt Farms in Colleyville.
The available lots for development in the three cities are mostly under 100 acres and the parcels over 100 acres belong to long-time families who have lived on these properties for decades and are unwilling to sell, Rostron said.
“For [Southlake and Colleyville], [City Council] will typically not let any developer or builder put more than one home per acre of land,” he said.
Despite the small amount of land available, the demand for houses in Grapevine, Colleyville and Southlake persist because of available jobs from companies like Toyota and Wells Fargo being headquartered nearby, Assaad and Rostron said.
Diving Deeper
New houses in the area are often listed above $2 million, primarily in Southlake and Colleyville, Assaad said. Many first-time homebuyers are looking for homes between $500,000 and $1 million. This could lead to families moving to other cities with more affordable new homes, she said.
Another challenge for homebuyers interested in this area is people are not moving out, Assaad said.
“Empty nesters and retirees love the communities so much that they’re not moving out [and] opening up their homes to families with kids coming in,” Assaad said.
The population that grew the most in Grapevine and Southlake between 2019 and 2023 were residents 75 and older, according to the most recent data available from the U.S. Census Bureau.
However, Colleyville’s population saw an increase in residents 19 and younger, but its senior population declined by more than 22% during the same period, indicating younger families are moving into this city.
Looking ahead
New trends are forming in Grapevine, Colleyville and Southlake as land becomes scarce.
There are 185 home listings in Grapevine Colleyville ISD and 181 listings in Carroll ISD, but most of the homes are older builds, Assaad said.
Home developers are looking to build toward Flower Mound and Argyle where there is more land available, Rostron said.
Some residents with multi-acre properties in Grapevine, Colleyville and Southlake are splitting their land to sell off smaller sections, said Curtis Young, principal at The Sage Group, a land-planning and development company.
There will also be a shift toward homes being torn down and rebuilt, Assaad said. “With limited inventory and steady demand, especially in the luxury space, sellers have the advantage,” she said. “We’re seeing higher prices per-square-foot [and] quicker sales ... That trend will only intensify as land becomes even more limited.”
