Quick Search

Park Cities Real Estate Report

The May numbers are in and guess what? They are better than April.  This report covers Highland Park and University Park only.  May ended with:

  • 488 active listings
  • 15 pending ( waiting to close )
  • 27 sold ( 22 last month ) it’s better but not great…

For single family homes the least expensive is $385,000 in University Park in the University Heights neighborhood.

The most expensive listing is also in University Park (75205) in the coveted Volk Estates for $18,000,000. (only on market for 2 days).

The time it takes to sell off the current inventory is the absorption rate, which is 18 months, with this current trend and DOM (days on market) hovering around 200 or so – pricing is the most important factor in selling a home.  Always is – no matter what the market bears.  Thawing of credit seems to slow but we are seeing signs of life.  I can’t think of a better time to buy real estate in the Park Cities, inventory is high and most pricing is realistic. What’s the old term?  Buy low and sell high…it’s time to buy in the Park Cities.   Market is still volatile so if you missed out on a property be patience and still watch it, it might fall out and you can have another chance.  Those are Real Estate words of wisdom…

About Terry W. Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite & know stuff, ask me...

Speak Your Mind