Housing Inventory Skyrockets
Real estate listings are up in Preston Hollow and the Park Cities, according to data the Texas A&M Real Estate Center complied for the North Texas Real Estate Information System.
“The real estate market was slow for the first quarter of this year, but picked up quite a bit in the second quarter,” said Caroline Thompson, an agent with Briggs Freeman Sotheby’s International Realty.
March saw 418 active listings in the Park Cities, up 50 percent from the same month a year ago, and 393 active listings in Preston Hollow, up 22 percent.
“More homes have come on the market since April 1, and appear to be continuing to do so, while prior listed homes have adjusted and improved their prices causing a flurry of activity,” Thompson said.
The price per square foot has dropped since December – from $341 to $297 in Preston Hollow and $396 to $392 in the Park Cities.
