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Real Estate Results Revealed in Park Cities and Preston Hollow

No surprise, DFW sales were down 33% from a year ago. It has to do with the economy, lending and the time of year. Mostly lending money of jumbo loans has curtailed sales in the Park Cities and Preston Hollow. It will come back and so will the market. November real estate results for Park Cities was down 40% however average price was up 36%. Preston Hollow sales were down a depressing 59% (yes, that’s correct) however average price was up 49%. Still some unrealistic builders holding on. The biggest problem in the inner loop is inventory levels are out of control – Park Cities has a 11 month supply, 58% increase over last year. And Preston Hollow has a 13.2 month supply up 75% from a year ago. If your a seller offering seller financing and/or leasing/lease option opportunities could help make a transaction and be advantageous. If your a buyer – have your financing in order and shop like there’s no tomorrow,  all you need is time to review many, many many exceptional properties.

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...

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