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It would appear that the boom for Dallas condominiums might be peaking. Several of the deals for Dallas condominiums, which were scheduled to break ground, have been postponed or even shut down due to the soaring of construction costs and investors, which are pulling out of the housing market altogether.

The W Dallas Victory Hotel & Residences may be a success story, but many other Dallas condominiums haven't been that lucky. Some of the projects are getting canceled, because the construction costs have risen a lot faster that the sale prices of the respective Dallas condominiums.

Some developers had to shut down sales because they didn't hit their estimated targets. A lot of buyers are stepping back and analyzing their options carefully because of what is going on in the market.

The main reason for this drawback is that the investors are abandoning the housing market. And this is the reason for the recent downturn in home sales. However in the Dallas area there are many Dallas condominiums being built. As increasing numbers consider relocating to neighborhoods such as Uptown, Deep Ellum, Turtle Creek and Oak Lawn since the first wave in the early-to -mid-1990s, developers are responding by building apartments and condominiums that offer more options in pricing, quality, amenities and locations.

There are many high-rise condo projects under construction and a couple more will start soon. The seven towers that are now being built in Uptown and downtown will increase the number of Dallas condominiums by about 1,000 units. And half-dozen buildings that are in the presale part of the project will add about 600 more Dallas condominiums to the market. Dallas condominiums range in price from $150,000 to $1.5 million and square footage goes from 1,200 to 6,000 or more per unit. Some may have all the amenities like a concierge, housekeeping services and inner courtyards, and others may provide primarily basics like 24-hour on-site security and parking garages. Some developers report that the market is so primed for growth that traditional condo presale requirements for financing the projects are being waived by banks.

When land is becoming scarce, there is only one option to evolve: going up. Amongst the Dallas condominiums edging up the skyline you will find the 603-unit 3225 Turtle Creek and the super-luxury 34-unit Gallery of State- Thomas at 3006 Woodside, very appealing. Also, some apartment builders such as Gables Residential and Post Properties are getting into the condo market; a longtime developer of apartments inside town, Shaw's new focus with new company Amicus is The Travis, a 17-story tower of Dallas condominiums currently under construction at 4611 Travis. The 64-unit structure offers views of downtown, shops and restaurants in walking distance and greater security than typical low-rise condos provide. Prices start at $235,000.

There are however developers that are rethinking their deals. Mockingbird Properties has stopped marketing it's 20-story tower of Dallas condominiums and is now negotiating with a hotel operator. If the hotel company will decide to build on the Noel Road site, the project will have about 78 condos, which is far fewer than the expected 126 Dallas condominiums originally planned. The economy is credited with causing the flight to the inner city. High interest rates for single-family homes draw in people who prefer to rent for a while, and they in turn stay downtown and buy Dallas condominiums.