Dallas Mansion Ask Drops to $37.5 Million
Scott Everett cut the asking price of his Preston Hollow home by $7.5 million after a reported $30 million offer fell through.
Updated on Nov. 3, 2026 in Residential
Scott Everett reduced the asking price of his 13,900-square-foot Preston Hollow mansion at 5547 Walnut Lane in Dallas from $45 million to $37.5 million. A reported $30 million offer for the home fell through.
Why it matters
The price cut and the failed offer show how high-end Dallas residential listings are being repriced in the current market. The reduction also reflects a 17 percent decline from the original ask on a home completed in 2025.
The asking price dropped $7.5 million to $37.5 million, a 17 percent cut from $45 million on a 13,900-square-foot home. The price now works out to $2,698 per square foot, down from more than $3,200, and Everett borrowed $14.4 million from Morgan Stanley for the property.
The players
Scott Everett
Everett is the owner of the Preston Hollow mansion who reduced its asking price and previously occupied the home for about one year.
Alex Perry
Perry is the listing agent with Allie Beth Allman & Associates who spoke to the Dallas Business Journal about the offer.
Morgan Stanley
Morgan Stanley is the financial institution that issued a $14.4 million loan to Everett for the home, according to loan documents.
The details
The home was built in 2025 in the Crespi Estates gated community, which includes four properties, after three years of design and construction. Everett occupied the property for about one year before listing it, and last year it was appraised at $15.5 million for tax purposes.
Timeline
Design and construction of the home began three years before listing.
The home was built in 2025.
Last year, the home was appraised at $15.5 million for tax purposes.
Over the summer of 2026, Everett informed investors their equity in a REIT and fund was gone.
On November 3, 2026, the asking price cut to $37.5 million was reported.
Market Context
The reduction places the Walnut Lane listing within a broader repricing of Dallas ultra-luxury homes as high-end buyers become more selective. It shows how a newly built trophy property can lose substantial value between its initial ask and its current listing.
Buyers considering high-end Dallas properties may find room to negotiate when a listing has been reduced substantially from its original ask. Sellers with recently built homes may need to adjust pricing to match current demand.
The takeaway
Substantial price reductions on newly built trophy homes signal that the luxury segment is still finding its footing. Readers tracking Dallas real estate should watch whether this listing sells near its reduced ask.
Further reading
For more on housing trends, see Dallas Residential listings and market coverage.
Source note: This article includes information reported by The Real Deal New York.
