The Best Southlake Neighborhoods for a $1.5M to $2M Budget

If you’re moving to Southlake, Texas with a budget of $1.5 to $2 million, you have great options. But not every neighborhood gives you the same thing. One may offer a bigger lot. Another may be newer. Another may give you more house for your money.

Below are six neighborhoods I recommend at this price point, along with the tradeoffs of each, so you can make an informed choice.

1. Carillon: Best for Newer Homes

If you tell me, “I have $1.8 million and I don’t want to remodel,” Carillon is the first place I’ll show you.

The median home in Carillon was built in 2015. That may not sound brand new, but for most Southlake homes under $2 million, the median build year is 1998. In Carillon you can find homes built as recently as 2018 that won’t need updating.

The tradeoff: smaller lots. At this price, most Carillon homes sit on a quarter to a third of an acre. In other neighborhoods, the same budget can get you a half acre or even three quarters of an acre.

Why it’s worth a look:

• Better energy efficiency. Even production builder homes here outperform a 1998 custom build.
• Carillon Parc is going up right across the street, with custom villa homes ($2.5 to $4 million) and new retail. Once finished, you may be able to walk to shops and restaurants.
• It’s popular with younger families.

If newer is your top priority, Carillon is my top pick.

2. Clariden Ranch and The Cliffs: Best for Larger Lots

If a quarter or third of an acre feels too small, Clariden Ranch is one of my favorite neighborhoods in Southlake.

The neighborhood has two sections:

• Clariden Ranch, with one acre lots
• The Cliffs at Clariden Ranch, with half acre lots

Either way, that’s a big step up from Carillon. You’ll have plenty of backyard space (within HOA rules, of course).

The median home was built in 2006. Many still have the brown tones of that era and may need updating. The good news is that when you update a home in Clariden Ranch, you can generally get your money back.

The tradeoff: schools. Clariden Ranch is zoned to Northwest ISD, not Carroll ISD. Northwest ISD is a good district, but many families move to Southlake specifically for Carroll ISD, one of the top districts in Texas.

Since Clariden Ranch is inside Southlake city limits, you can apply for open enrollment to Carroll ISD each year. However, school bus service is not available. Some families are fine with that. Others want the convenience of a bus or don’t want to reapply every year.

If privacy and space for kids and dogs are your priorities, this is a great neighborhood.

3. Estes Park: Best for Space and Remodel Potential

Estes Park makes a great first impression. As you drive in, you’ll see ponds with water features and walking trails throughout.

The neighborhood has a mix of Toll Brothers production homes and custom builds, which explains the price range you’ll see. Homes over $2 million are typically the custom builds. Homes under $2 million are typically Toll Brothers.

Why it stands out:

• Resale after renovation. You may find dated homes listed around $1.6 to $1.9 million. Once renovated, they can sell for $2 to $2.3 million.
• Room to spread out. The median home size is 5,300 square feet. If you want five bedrooms, a media room, a game room, and an office, Estes Park is worth a look.

4. Shady Oaks: Best for Location and Convenience

If convenience is your hot button, Shady Oaks is a great option. The neighborhood gets its name from the beautiful oak trees you’ll see as you drive through.

There is an HOA but no pool or similar amenities. You will find walking trails throughout the neighborhood.

Location highlights:

• Across the street from The Marq, Southlake’s recreation center
• Close to Southlake Town Square and Central Market
• Quick access to Highway 114 by heading north on Dove

By the numbers:

• Median build year: 2014, newer than most Southlake homes
• Median home size: 5,400 square feet
• Lot size: a third to a half acre
• Prices: from about $1.5 million up to $3 million

Shady Oaks holds its value well and combines a newer feel with an established location.

5. Kirkwood Hollow: Best for Mature Trees and Backyards

Kirkwood Hollow is one of my all-time favorite neighborhoods in Southlake. Prices range from $1.3 to $2.4 million, with a median of $1.7 million. At that median, plan on renovating, but it’s worth it.

Outside of Clariden Ranch, Kirkwood Hollow has some of the most beautiful backyards I’ve seen. If you love tall trees, you’ll love the drive in. The median lot is about six tenths of an acre, and some lots reach a full acre.

The location: Kirkwood Hollow is north of Highway 114, so it’s less convenient to Town Square and Central Market. The upside is that it’s quiet. It’s also close to the Charles Schwab campus.

Strong resale: Well priced homes here can sell in one to four days. One renovated home listed at $2.3 million received multiple offers and sold for $2.4 million. Homes sell between 97% and 105% of list price, with a median of 100%.

It’s a small neighborhood with a community pool and more privacy than many others.

6. Timarron: Best for Amenities and Community

Timarron is one of the best known neighborhoods in Southlake and its largest master planned community. It offers a wide range of homes and beautiful lots at the $1.5 to $2 million price point.

Amenities include:

• Walking trails
• Pools
• Pickleball and tennis
• A country club and golf course
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Timarron has an established feel, with both production and custom built homes. At this price, you’ll find many homes that have already been renovated (and a few you’ll want to pass on). The trees are more mature, and the sense of community is a big draw.

You’ll find every season of life here. We’ve helped first time buyers, families relocating from out of state, and retirement age empty nesters all find homes in Timarron.

Finding Your Ideal Southlake Neighborhood

These six are a great starting point, but Southlake has many other smaller neighborhoods that are just as lovely at the $1.5 to $2 million price point. The right one depends on what matters most to you: a newer home, a bigger lot, a great location, or room to renovate and build value.

Thinking about a move to Southlake? Reach out to the Dana Pollard Group. We’d love to help you find the neighborhood that fits your life.