We're almost midway through July, so time for a look at real estate statistics in and around Preston Hollow. These are the for the area bordered by Northwest Hwy on the south, Central Expressway on the East, LBJ on the north, and Midway Road on the west.
If you're a seller,the bad news is that prices haven't rebounded yet. Prices in the area peaked in 2008 and they have dropped by a small percentage in the past few years. Now the good news:
Pending Sales are the highest they've been since 2008. Added to the increase in closed sales, this shows that demand has risen. And based on the economic growth in North Texas, it is continuing to rise. Now the really good news:
The supply of homes for sale is way down. Given the demand, we should see a gradual increase in prices over the next year. [where: 75230]
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