While active home listings in Preston Hollow and the Park Cities dipped in the fourth quarter, 2016 brought greater housing inventory overall, creating opportunities for buyers as well as sellers.
New listings may not be likely to go under contract instantly in a wave of multiple offers like they would a few years ago, but home prices remain strong and sellers who have done quality renovations are still rewarded, according to Shell Stegall, senior vice president and broker with Briggs Freeman Sotheby’s International Realty, who has spent 25 years in real estate.
“It’s not quite so chaotic now,” she said. “It’s becoming a little more balanced between the power of buyers and sellers.”
Active listings in 2016 averaged 22 percent higher than in 2015, according to data from North Texas Real Estate Information Systems Inc.