Dallas is seeing a surprising trend: million-dollar homes are being foreclosed, auctioned off, or already bank-owned.
At least 78 properties in Dallas are currently listed on Zillow and are in some form of economic distress. The properties are either marked as foreclosed, in foreclosure, pre-foreclosure, or headed to auction, with three of those homes carrying estimated values of over $1 million.
Overview of Key Listings
Below is a breakdown of three high-end properties currently listed on Zillow, each valued at more than $1 million and marked with distress-related designations:
| Property | Street Address | Listing Price | Zestimate® | Sq. Ft. | Beds | Status | Listed/Foreclosed Date | Zillow Link |
|---|---|---|---|---|---|---|---|---|
| Property 1 (Summerhill) | 9406 Summerhill Ln #2, Dallas, TX 75238 | $1,150,000 | N/A | 2,595 | 6 total (3 per unit) | Foreclosure | Listed May 12, 2025 | Zillow |
| Property 2 (Mill Creek) | 4616 Mill Creek Rd, Dallas, TX 75244 | Auction (Est. $1,054,400) | $1,054,400 | 3,296 | 4 | Auction | Listed July 14, 2025 | Zillow |
| Property 3 (Graystone) | 17207 Graystone Dr, Dallas, TX 75248 | $1,087,400 | $1,087,400 | 5,051 | 5 | Foreclosed | Foreclosed March 4, 2025 | Zillow |
1. SUMMERHILL
2. MILL CREEK
3. GRAYSTONE
What These Terms Mean
| Term | Definition |
|---|---|
| Foreclosure | The legal process by which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments. The property is typically scheduled for sale. |
| Foreclosed | Indicates that the legal foreclosure process has been completed and the property is now owned by the lender (bank-owned or REO—real estate owned). |
| Pre-Foreclosure | The early stage of the foreclosure process when the homeowner has missed mortgage payments, but the property has not yet been officially foreclosed or scheduled for auction. |
| Auction | The property is being sold through a public or online auction, often as a result of foreclosure. It may be sold to the highest bidder, sometimes below market value. |
A Post-Pandemic Shift
Amy Nixon, a Dallas-based housing analyst, pointed out on social media that this uptick in distressed listings is especially notable given the recent history.
It was basically zero during the pandemic (2020-2023)
And since prices popped so much and everyone should have equity, it’s shocking there are foreclosures at all
Yet here we are.
— Amy Nixon (@texasrunnerDFW) July 17, 2025
Other users chimed in with their own observations. Tom Tousignant, a self-described “Former Mortgage Banker and AF Pilot,” wrote on July 18, “Area is very heavy with mortgage banking centers which have had massive employment reductions in last 3 years. Foreclosures aren’t surprising and local due to employment in area.”
Nixon agreed, replying, “A lot of tech here too that’s been hit with layoffs.”
Others reported seeing similar phenomena elsewhere in Texas. Texberta (@Albertagarbage) tweeted, “I’m seeing foreclosures in the woodlands/conroe area right now. Sure didn’t see that a year ago!”
Despite the uptick, no users suggested the current situation was comparable to the widespread foreclosure crisis of 2008.
A Shared Profile: 1970s Builds with Modern Price Tags
One notable commonality among the Dallas listings is their vintage. All three highlighted properties were built between the late 1960s and late 1970s, a trend mirrored in the scores of other properties currently listed as economically distressed. Although not new construction, many have been updated or remodeled and feature square footage and amenities that align with today’s high-end expectations, including multiple bathrooms, two-car garages, and fenced yards.
The Zillow Factor
Zillow, a Seattle-based real estate marketplace, is one of the most widely used platforms for buying, selling, and renting homes in the U.S. Its listings often include user-generated content, public records, and third-party data feeds. While Zillow’s proprietary Zestimate® tool estimates a property’s market value based on public data and algorithms, it notes that these estimates are not appraisals and may not reflect actual market conditions.
Listings on the site often flag properties in legal or financial transition, including foreclosures and auctions, making it a barometer of broader economic trends within housing markets.
With mortgage layoffs, tech job cuts, and lingering inflationary pressure, even affluent neighborhoods in Dallas are not immune to economic turbulence. Though the scale pales in comparison to the 2008 crash, the appearance of multiple million-dollar homes in distress signals a notable and perhaps growing vulnerability in the local real estate market.